Financial Institutions Reform Act
The act divided the FDIC's insurance fund into a Bank Insurance Fund (BIF) to cover U.S. commercial bank deposits and a Savings Association's Insurance Fund (SAIF) to insure the deposits of the U.S.-based savings and loan associations and other thrifts.
The Financial Institutions Reform, Recovery and Enforcement Act was part of the legislation born out of the savings and loan crisis of the 1980s.
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