Number, Assets, Deposits, Losses, and Loss to Funds of Insured Thrifts Taken Over or Closed Because of Financial Difficulties
Number, Assets, Deposits, Losses, and Loss to Funds of Insured Thrifts Taken Over or
Closed Because of Financial Difficulties, 1989 through 1998 1
(Dollars in Thousands)
1 Prior to July 1, 1995, all thrift closings were the responsibility of the Resolution Trust Corporation (RTC). Since the RTC was
terminated on December 31, 1995, and all assets and liabilities transferred to the FSLIC Resolution Fund (FRF), all the
results of the thrift closing activity from 1989 through 1995 are now reflected on FRF's books. The Savings Association
Insurance Fund (SAIF) became responsible for all thrifts closed after June 30, 1995; there has been only one such failure.
Additionally, SAIF was appointed receiver of one thrift (Heartland FSLA) on October 8, 1993, because, at that time,
RTC's authority to resolve FSLIC-insured thrifts had not yet been extended by the RTC Completion Act.
2 Year is the year of failure, not the year of resolution.
3 The estimated losses represent the projected loss at the fund level from receiverships for unreimbursed subrogated claims of
the FRF/SAIF and unpaid advances to receiverships from the FRF.
4 The Loss to Funds represents the total resolution cost of the failed thrifts in the SAIF and FRF-RTC funds, which includes
corporate revenue and expense items such as interest expense on Federal Financing Bank debt, interest expense on
escrowed funds, and interest revenue on advances to receiverships, in addition to the estimated losses for receiverships.
5 Total for 1989 excludes nine failures of the former FSLIC.