S&L
Business & Finance abbreviation · Banking
| Stands for | Savings and loan association |
|---|---|
| Categories | Business & Finance |
S&L stands for Savings and loan association, a banking abbreviation.
US financial institution, also called a thrift, that historically specialized in taking savings deposits and making home mortgage loans. S&Ls are chartered under federal or state law and today offer services similar to banks.
Example: Her grandparents financed their first house with a 30-year mortgage from the local S&L.
Usage notes
The savings and loan crisis of the 1980s and early 1990s saw more than 1,000 thrifts fail, costing taxpayers about $124 billion and leading to the creation of the Resolution Trust Corporation. Federal savings associations have been supervised by the Office of the Comptroller of the Currency since the Dodd-Frank Act abolished the Office of Thrift Supervision.
Related abbreviations
More banking abbreviations
- RD – Recurring deposit
- RDC – Remote deposit capture
- RTGS – Real-time gross settlement
- RTN – Routing transit number
- RTP – Real-Time Payments
- RWA – Risk-weighted assets
- SAR – Suspicious activity report
- SBLC – Standby letter of credit
- SCA – Strong customer authentication
- SEPA – Single Euro Payments Area
- SIFI – Systemically important financial institution
- SLR – Statutory liquidity ratio