什麼是儲蓄與放款協會

接受存款人的儲蓄並使用這些資金來借貸給購屋者的金融機構。儲蓄和放款協會起源於18世紀的英國建築協會，那裏的工人們聯合起來集資修建房屋。美國第一家儲蓄和放款協會在1831年成立於費城。儲蓄和放款協會最初是協會股東的合作機構，股東根據利潤提侖紅利。但今天的儲蓄和放款協會已經成爲了雙邊的機構，可提供多種儲蓄方案。它們因可以向其他金融機構貸款來經營抵押證券、貨幣市場票證和股票而不一定要依靠個人儲蓄來提供資金。由於1970年代的高通貨膨脹和不斷提高的利率已使利率的抵押利潤極度減少，儲蓄和放款協會的條規得到了改進，它們獲准對抵押進行改動。1980年代後期，大量的儲蓄和放款協會因對抵押的不當調整導致的投資風險和詐騙而倒閉。政府因此被迫提供2000多億美元來賠償損失，1989年聯邦儲蓄與貸款保險集團破產。其保險功能被一個由聯邦儲蓄保險公司監管的新組織接手管理，後成立了清債信託公司來解決破產的儲蓄與放款協會的問題。

savings and loan association

Financial institution that accepts savings from depositors and uses those funds primarily to make loans to home buyers. Savings and loan associations (S&Ls) originated with 18th-century British building societies, in which workmen banded together to finance the building of their homes. The first U.S. savings and loan was established in Philadelphia in 1831. S&Ls were initially cooperative institutions in which savers were shareholders in the association and received dividends in proportion to profits, but today are mutual organizations that offer a variety of savings plans. They are not obliged to rely on individual deposits for funds but are permitted to borrow from other financial institutions and to market mortgage-backed securities, money-market certificates, and stock. Because high inflation and rising interest rates in the 1970s made fixed-rate mortgages unprofitable, regulations were altered to permit S&Ls to renegotiate mortgages. In the late 1980s, a growing number of S&Ls failed because inadequate regulation had allowed risky investments and fraud to flourish. The government was obliged to cover vast losses in excess of $200 billion, and the Federal Savings and Loan Insurance Corp. (FSLIC) became insolvent in 1989. Its insurance functions were taken over by a new organization supervised by the Federal Deposit Insurance Corp., and the Resolution Trust Corp. was established to handle the bailout of the failed S&Ls.