Federal Savings And Loan Insurance Corporation

What Does Federal Savings And Loan Insurance Corporation Mean?

The Federal Savings and Loan Insurance Corporation (FSLIC) was a former government institution that insured bank deposits up to a specified limit. It was abolished in 1989, with its assets transferred to the Savings Association Insurance Fund.

Insuranceopedia Explains Federal Savings And Loan Insurance Corporation

The Federal Savings and Loan Insurance Corporation (FSLIC) was established in 1939 to protect bank deposits in the event that a financial institution became insolvent, with a maximum insured amount of $100,000. By 1989, however, the FSLIC was unable to prevent the collapse of certain banking institutions and had begun receiving taxpayer funding to maintain its operations. Ultimately, it became defunct.