Journal of Economic Perspectives: Vol. 3 No. 4 (Fall 1989)


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Symposium on Federal Deposit Insurance for S&L Institutions

Article Citation

Jaffee, Dwight M. 1989. "Symposium on Federal Deposit Insurance for S&L Institutions." Journal of Economic Perspectives, 3(4): 3-9.

DOI: 10.1257/jep.3.4.3


Federal deposit insurance was introduced to eliminate the bank runs of the Great Depression: the FDIC (Federal Deposit Insurance Corporation) was created in 1933 to insure commercial bank deposits, and the FSLIC (Federal Savings and Loan Insurance Corporation) was created in 1934 to insure savings and loan association (S&L) deposits. Following a decade of neglect, the Bush administration and Congress moved early in 1989 to resolve the most serious problems yet to confront federal insurance of U.S. bank deposits. How did S&L losses expand so rapidly and unexpectedly? How should FSLIC be redesigned to avoid a reoccurance? Who is going to pay for the existing FSLIC losses? What are the future prospects for the S&L industry?

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Jaffee, Dwight M. (Princeton)

JEL Classifications

311: Domestic Monetary Policy, Including All Central Banking Topics
314: Financial Intermediaries


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