FIRREA

FIRREA
Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
A federal law enacted in 1989. FIRREA primarily addresses the operation of savings and loan associations; however, it includes a number of important provisions affecting commercial banks. Arguably the most important FIRREA provisions affecting banks are those that address requirements for real estate appraisals. American Banker Glossary
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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. Bloomberg Financial Dictionary

Financial and business terms. 2012.

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Look at other dictionaries:

  • FIRREA — Financial Institutions Reform, Recovery, and Enforcement Act of 1989 Short Dictionary of (mostly American) Legal Terms and Abbreviations …   Law dictionary

  • FIRREA — Financial Institutions Reform and Recovery Enforcement Act Закон о реформе финансовых институтов, поддержке и исполнении …   Финансово-инвестиционный толковый словарь

  • FIRREA —   An acronym for the US Financial Institutions Reform, Recovery and Institutions Act of 1989. A law which gives the FDIC and RTC strong powers to reorganise failed banks and thrifts in the US. Passed into law in 1989 …   International financial encyclopaedia

  • Financial Institutions Reform, Recovery And Enforcement Act - FIRREA — A law enacted to ensure that real estate appraisals are performed up to standard. This includes regulation on the competency of the appraisers, supervisory standards and accurate and full documentation. The FIRREA also holds claim to the creation …   Investment dictionary

  • Financial Institutions Reform, Recovery and Enforcement Act of 1989 — ( FIRREA) Legislation that established the Office of Thrift Supervision, which was created in the wake of the savings and loan crisis of the late 1980s. Bloomberg Financial Dictionary …   Financial and business terms

  • Financial Institutions Reform, Recovery and Enforcement Act of 1989 — The Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA) is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation (RTC) to close… …   Wikipedia

  • Benj. Franklin Savings and Loan — was a thrift based in Portland, Oregon, which was seized by the United States Government in 1990. In 1996 the United States Supreme Court found that this and similar seisures were based on an unconstitutional provision of a 1989 law known as… …   Wikipedia

  • Savings and loan association — A savings and loan association, also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage loans. The term is mainly used in the United States; similar institutions in the United Kingdom …   Wikipedia

  • Savings and loan crisis — The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S L crisis) was the failure of 747 savings and loan associations (S Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around… …   Wikipedia

  • Financial Institutions Reform, Recovery, and Enforcement Act — ( FIRREA) A federal law enacted in 1989. FIRREA primarily addresses the operation of savings and loan associations; however, it includes a number of important provisions affecting commercial banks. Arguably the most important FIRREA provisions… …   Financial and business terms

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