SAIF has reached the insurance coverage goal mandated by the U.S. Congress in the Financial Institutions Reform, Recovery and Enforcement Act.

Question

Quizplus · Accepted Answer

SAIF (Savings Association Insurance Fund) was merged into the FDIC's (Federal Deposit Insurance Corporation) Deposit Insurance Fund (DIF) in 2006, and thus, it no longer exists as a separate entity to reach insurance coverage goals. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) initially established SAIF, but its specific goals have since evolved under the broader FDIC administration.

SAIF Has Reached the Insurance Coverage Goal Mandated by the U.S