Depository institution

 

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Depository institution

A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. Although historically they have broadened their powers in recent years. For example, NOW accounts, credit union share drafts and other services similar to checking accounts may be offered by thrift institutions.



Depository institution

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Institutional investor

A financial institution which invests large amounts of money in the stock, bond and other financial markets. e.g. a pension or insurance fund. Contrast with an individual or 'retail' investor investing his or her own money.


Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA)

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Legislation that established the Office of Thrift Supervision, which was created in the wake of the savings and loan crisis of the late 1980s.


Thrift Institution Advisory Council (TIAC)

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A council, established following the passage of the Monetary Control Act of 1980, whose purpose is to provide information and views on the special needs and problems of thrifts. The group is comprised of representatives of savings banks, savings and loan associations, and credit unions.


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A US depository organisation for savings including savings and loan associations and mutual savings banks. Deposits are in the main used for home mortgage loans.


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