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Federal Savings and Loan Insurance Corporation
 
 
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The Federal Savings and Loan Insurance Corporation (FSLIC) was an institution that administered deposit insurance
Deposit insurance

Explicit deposit insurance is a measure introduced by policy makers in many countries to protect deposits, in full or in part, in the event of a Bank run or banks....
 for savings and loan institutions in the United States
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
. It was abolished in 1989 by the Financial Institutions Reform, Recovery and Enforcement Act, which passed responsibility for savings and loan deposit insurance to the Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a :Category:Government-owned companies in the United States created by the Glass-Steagall Act of 1933....
 (FDIC).

The FSLIC was created as part of the National Housing Act of 1934
National Housing Act of 1934

The National Housing Act of 1934 was passed during the Great Depression in order to make housing and home mortgages more affordable. It created the Federal Housing Administration and the Federal Savings and Loan Insurance Corporation....
 in order to insure deposits in savings and loans, a year after the FDIC was created to insure deposits in commercial banks.






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The Federal Savings and Loan Insurance Corporation (FSLIC) was an institution that administered deposit insurance
Deposit insurance

Explicit deposit insurance is a measure introduced by policy makers in many countries to protect deposits, in full or in part, in the event of a Bank run or banks....
 for savings and loan institutions in the United States
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
. It was abolished in 1989 by the Financial Institutions Reform, Recovery and Enforcement Act, which passed responsibility for savings and loan deposit insurance to the Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a :Category:Government-owned companies in the United States created by the Glass-Steagall Act of 1933....
 (FDIC).

The FSLIC was created as part of the National Housing Act of 1934
National Housing Act of 1934

The National Housing Act of 1934 was passed during the Great Depression in order to make housing and home mortgages more affordable. It created the Federal Housing Administration and the Federal Savings and Loan Insurance Corporation....
 in order to insure deposits in savings and loans, a year after the FDIC was created to insure deposits in commercial banks. It was administered by the Federal Home Loan Bank Board (FHLBB).

In the 1980s, during the savings and loan crisis
Savings and Loan crisis

The savings and loan crisis of the 1980s and 1990s was the failure of 747 savings and loan associations in the United States. The ultimate cost of the crisis is estimated to have totaled around United States dollar160.1 billion, about $124.6 billion of which was directly paid for by the U.S....
, the FSLIC became insolvent. It was recapitalized with taxpayer money several times, with $15 billion in 1986 and $10.75 billion in 1987. However, by 1989 it was insolvent to save and was abolished along with the FHLBB; and the FSLIC savings and loan deposit insurance responsibility was transferred to the FDIC.