Word: ls
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...ASCs have also failed in their mission of helping to rescue beleaguered savings banks and S and Ls from financial failure. These thrift institutions are losing money at a catastrophic clip because they must now pay an average of 11.6% interest to attract deposits, while the mortgages and other assets on their books are earning only an average of 10.1%. Richard Pratt, chairman of the Federal Home Loan Bank Board, said last week that about 80% of the 3,900 federally insured savings and loan associations lost money in 1981 and that some 400 of them will...
Problems for S and Ls are serious elsewhere too. A list kept by the Home Loan Bank Board shows that 200 S and Ls could be close to reaching the point where their liabilities exceed their assets and wipe out their net worth. Hundreds more may be in that position within a year...
...fears that any new surge in interest rates, which many economists predict will occur perhaps as early as the summer, could eliminate one-third of the U.S. thrift industry. That would strain the Government's capacity to engineer the rescue mergers needed to absorb insolvent S and Ls. Says an official at the Federal Reserve: "If rates start to turn up again, then 1982 will be the crunch year. A lot of existing thrifts simply won't make...
...Government's bailout agencies, the FDIC and the Federal Savings and Loan Insurance Corporation, have so far been able to deal with failing thrifts by buying up their old loans or forcing weak S and Ls to join with stronger institutions...
...three years of lower interest rates before a substantial part of the older fixed-term mortgages could be replaced by new higher-yielding loans. The stronger thrifts may also be helped by some of the banking deregulation legislation now pending in Congress. One measure would allow S and Ls to offer loans to corporations, just as banks do, and another would permit thrifts to make a broader range of loans to consumers...