DEPOSITORY INSTITUTIONS ACT OF 1982
A law passed by Congress with the intent of making savings and loan institutions more competitive. The best known of its many provisions was a section that enabled these so-called thrifts to offer money market deposit accounts with no interest rate ceiling, allowing them to compete more effectively with money market mutual funds for capital.
The Act also raised the ceiling on their direct investments in nonresidential real estate from 20-40% of assets, and their consumer lending from 20-30% of assets. The Act is more formally known as the Garn-St. Germain Depository Institutions Act after its sponsors, Congressman Fernand St. Germain and Senator Jake Garn.
POPULAR TERMS
Asset Substitution Problem
A problem which arises when a company trades its low-risk assets for high-risk investments. This substitution moves the value from the bondholders ...
Lawful Money
Any currency, in coin or paper form, that is issued by the United States Treasury, not the Federal Reserve System. It also includes gold and silver ...
Red Clause Letter Of Credit
It refers to a specific type of letter of credit where a buyer extends an unsecured loan to a seller. This permits documentary credit beneficiaries ...
Trust Certificate
Bond or debt investment backed by other assets and serve like a collateral. Normally in a public company, the assets may be seized or sold for the ...
Cowboy Marketing
Slang term for a situation in which a firm is unaware a marketer sends massive spam emails to everyone promote the stock, instead of producing legi ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
Digesting Financial Statements: Pension Plans
Deducing on the topic we previously discussed, this tutorial now puts the spotlight on the pension fund. It is a distinct long-term obligation for ...
Buying a Home: Obtaining a Homeowners Insurance
You are one step closer to acquiring your dream house, and you want to make sure it has substantial protection against any disaster or occurrence t ...
Buying a Home: Determining the Amount You Can Afford
You have decided to buy a house, choose the best location, and select a home suitable for you needs. It is high time to determine the amount you ca ...
An Introduction to the Basics of Economics
Economics, as defined by the dictionary, is the science that is concerned with the process or system by which goods and services are produced, sold ...
Health Savings Account: Introduction
In essence, health savings account shoulders any health- and medical-related expenses that are not included in the high-deductible health plan. Pay ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 05:00 | Credit Card Spending | Mar | |
| 14:30 | Industrial Product Price Index | Mar | |
| 14:30 | New Housing Price Index | Mar | |
| 14:30 | Raw Materials Price Index | Mar | |
| 16:00 | Consumer Confidence | Apr | |
| 02:30 | PMI Manufacturing | Apr | |
| 02:30 | Tertiary Industry Index | Apr | |
| 02:30 | PMI Composite | Apr | |
| 08:00 | Public Sector Net Borrowing | Mar |
