Bank Insurance Fund

Business, Legal & Accounting Glossary

Definition: Bank Insurance Fund


Bank Insurance Fund


Full Definition of Bank Insurance Fund


BIF. A unit of the Federal Deposit Insurance Corporation (FDIC) which provides deposit insurance to non-thrift banks. The focus of the BIF is to separate the administration of banks and thrift insurance companies, though it also increased the deposit insurance of commercial and savings banks to $100,000. Both the Bank Insurance Fund and the Savings Association Insurance Fund were formed in 1989 in response to the savings and loan bailout. The two funds were merged into the Deposit Insurance Fund in 2005.


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, from PayrollHeaven.com website: https://payrollheaven.com/define/bank-insurance-fund/

Definition Sources


Definitions for Bank Insurance Fund are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 14th November, 2021 | 0 Views.