Resolution Funding Corporation
E1039784
Resolution Funding Corporation was a U.S. government-created financing vehicle that issued debt to help fund the Resolution Trust Corporation’s cleanup of the savings and loan crisis.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
financing vehicle
ⓘ
government-sponsored enterprise ⓘ |
| activity |
funding of Resolution Trust Corporation obligations
ⓘ
issuance of debt securities ⓘ |
| associatedWithTimePeriod |
1990s
ⓘ
late 1980s ⓘ |
| beneficiary | Resolution Trust Corporation NERFINISHED ⓘ |
| classification | off-budget federal entity ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| createdBy | United States federal government NERFINISHED ⓘ |
| createdByStatute |
FIRREA
NERFINISHED
ⓘ
Financial Institutions Reform, Recovery, and Enforcement Act of 1989 NERFINISHED ⓘ |
| dateFounded | 1989 ⓘ |
| debtLimitCurrency | United States dollar NERFINISHED ⓘ |
| financedAmountUpperBound | approximately $30 billion in RTC obligations ⓘ |
| function | to pay interest on REFCORP bonds using contributions from the Federal Home Loan Banks ⓘ |
| fundingMechanism |
issuance of Treasury-backed securities
ⓘ
issuance of long-term bonds ⓘ |
| fundingSourceForInterest | Federal Home Loan Banks NERFINISHED ⓘ |
| governance | board of directors ⓘ |
| guaranteedBy | United States Department of the Treasury NERFINISHED ⓘ |
| hasAcronym | REFCORP NERFINISHED ⓘ |
| hasLiabilitiesType | long-term bonds ⓘ |
| industry | government finance ⓘ |
| jurisdiction | federal jurisdiction of the United States ⓘ |
| legalForm | federally chartered corporation ⓘ |
| legislativeAuthority | Public Law 101-73 NERFINISHED ⓘ |
| locatedIn | Washington, D.C. ⓘ |
| maximumAuthorizedDebt | $30 billion ⓘ |
| obligationsBackedBy | United States government NERFINISHED ⓘ |
| oversightBy |
Federal Housing Finance Board
NERFINISHED
ⓘ
United States Department of the Treasury NERFINISHED ⓘ |
| partOfProgram | U.S. thrift industry resolution framework ⓘ |
| primaryObjective | to minimize direct budgetary impact of the thrift cleanup on the U.S. federal budget ⓘ |
| purpose |
to help fund the cleanup of the U.S. savings and loan crisis
ⓘ
to provide financing for the Resolution Trust Corporation ⓘ |
| relatedTo |
Federal Deposit Insurance Corporation
NERFINISHED
ⓘ
Federal Home Loan Bank System NERFINISHED ⓘ Office of Thrift Supervision NERFINISHED ⓘ |
| relatedToAgency | Resolution Trust Corporation GENERATED ⓘ |
| relatedToEvent |
U.S. savings and loan crisis of the 1980s and early 1990s
NERFINISHED
ⓘ
savings and loan crisis ⓘ |
| roleInCrisisManagement | financing thrift resolutions ⓘ |
| sector | financial sector ⓘ |
| shortName | REFCORP NERFINISHED ⓘ |
| status | inactive ⓘ |
| typeOfDebtIssued | non-marketable Treasury-backed securities GENERATED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.