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The savings and loan crisis of the 1980s and 1990s was the failure of 32% of savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members.
Canadian Commercial Bank (CCB) was a bank based in Edmonton, Alberta, Canada, which failed in 1985. It received its parliamentary charter in 1975 and established its head office in Edmonton. The bank was privately owned and operated as a wholesale commercial bank.
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The Battle of Jonesborough was fought between Union Army forces led by William Tecumseh Sherman and Confederate forces under William J. Hardee during the Atlanta Campaign in the American Civil War. On the first day, on orders from Army of Tennessee commander John Bell Hood, Hardee's troops attacked the Federals and were repulsed with heavy losses. That evening, Hood ordered Hardee to send half his troops back to Atlanta. On the second day, five Union corps converged on Jonesborough. For the only time during the Atlanta Campaign, a major Federal frontal assault succeeded in breaching the Confederate defenses. The attack took 900 prisoners, but the defenders were able to halt the breakthrough and improvise new defenses. Despite facing overwhelming odds, Hardee's corps escaped undetected to the south that evening.
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The Independent Treasury was the system for managing the money supply of the United States federal government through the U.S. Treasury and its sub-treasuries, independently of the national banking and financial systems. It was created on August 6, 1846, by the 29th Congress, with the enactment of the Independent Treasury Act of 1846. It was expanded with the creation of the national banking system in 1863. It functioned until the early 20th century, when the Federal Reserve System replaced it. During this time, the Treasury took over an ever-larger number of functions of a central bank and the U.S. Treasury Department came to be the major force in the U.S. money market.
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Saul V. Levine is a Canadian psychiatrist and author, professor emeritus at various universities for psychiatry at University of California, San Diego, School of Medicine; Stanford University Medical School; and University of Toronto (1970–1993). He was chairman of the Department of Psychiatry at Rady Children’s Hospital, San Diego, from 1993–2011. He was department head of psychiatry at Sunnybrook Medical Center in Toronto, Ontario, Canada.
"Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and therefore should be supported by government when they face potential failure. The colloquial term "too big to fail" was popularized by U.S. Congressman Stewart McKinney in a 1984 Congressional hearing, discussing the Federal Deposit Insurance Corporation's intervention with Continental Illinois. The term had previously been used occasionally in the press, and similar thinking had motivated earlier bank bailouts.
Old Court Savings and Loan was a savings and loan association headquartered in Pikesville, Maryland, United States, that failed due to embezzlement by its president Jeffrey Levitt, which led to the failure of the state deposit insurance corporation.
In finance, a stress test is an analysis or simulation designed to determine the ability of a given financial instrument or financial institution to deal with an economic crisis. Instead of doing financial projection on a "best estimate" basis, a company or its regulators may do stress testing where they look at how robust a financial instrument is in certain crashes, a form of scenario analysis. They may test the instrument under, for example, the following stresses:
References
- ↑ Estey, Willard (August 1986). Report of the Inquiry into the Collapse of the CCB and Northland Bank (Report). Canada: Privy Council Office. ISBN 0-660-12171-9 . Retrieved December 18, 2015.
