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FICO was chartered by the Federal Home Loan Bank Board pursuant to the FSLIC Recapitalization Act of 1987. [1] [2] FICO's sole purpose was for issuing bonds to finance a rebuilding of the Federal Savings and Loan Insurance Corporation (FSLIC), [3] and after FIRREA to function as a financing vehicle for the FSLIC Resolution Fund (FRF) that succeeded the FSLIC.
A face-amount certificate company is an investment company which offers an investment certificate as defined by the United States Investment Company Act of 1940. In general, these companies issue fixed income debt securities that obligate the issuer to pay a fixed sum at a future date. They are generally sold on an installment basis. [1]
In finance, a bond is a type of security under which the issuer owes the holder a debt, and is obliged – depending on the terms – to provide cash flow to the creditor (e.g. repay the principal (i.e. amount borrowed) of the bond at the maturity date and interest (called the coupon) over a specified amount of time. [1])
Savings bond. Corporate bond. Interest. Yields are typically lower than corporate bonds, such as 3 percent to 4 percent. Interest varies considerably based on what the company offers.
If a bond issuer cannot pay its interest or repay the bond’s principal, then the issuer is in default. In this case the bond’s owner may have to take legal action to claim the money it is owed.
A corporate bond is a bond issued by a corporation in order to raise financing for a variety of reasons such as to ongoing operations, mergers & acquisitions, or to expand business. [1] The term sometimes also encompasses bonds issued by supranational organizations (such as European Bank for Reconstruction and Development). Strictly speaking ...
In an indirect auto loan, a car dealership (or a connected company) acts as an intermediary between the bank or financial institution and the consumer. Other forms of secured loans include loans against securities – such as shares, mutual funds, bonds, etc.
But even if the Fed didn’t act immediately, the financial markets will respond by pushing up the yield they demand for bonds and therefore lowering the price of bonds. Bond yields and prices ...