AA |
Arthur Andersen, a “Big 8” accounting firm |
ACC |
American Continental Corporation; Keating holding company used to buy Lincoln Savings |
ACFE |
Association for Certified Fraud Examiners |
ADC |
acquisition, development, and construction |
AICPA |
American Institute of Certified Public Accountants |
ARM |
adjustable-rate mortgage |
AY |
Arthur Young & Company, a “Big 8” accounting firm |
C&D |
cease and desist order |
CDSL |
California Department of Savings and Loans |
CEBA |
Competitive Equality in Banking Act (of 1987); authorized the FSLIC recapitalization |
CEO |
chief executive officer |
CFO |
chief financial officer |
CPA |
certified public accountant |
CRA |
Community Reinvestment Act |
CRAP |
creative regulatory accounting principles |
DCCC |
Democratic Congressional Campaign Committee |
DNC |
Democratic National Committee |
DOJ |
United States Department of Justice |
ERC |
Enforcement Review Committee |
FAS |
Financial Accounting Standards |
FASB |
Financial Accounting Standards Board; top accounting-profession standard-setting body |
FBI |
Federal Bureau of Investigation |
Foreign Corrupt Practices Act; forbids bribery of foreign officials |
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FDIC |
Federal Deposit Insurance Corporation; federal banking insurance agency |
FHLB |
Federal Home Loan Bank; a regional bank that regulated and made loans to S&Ls |
FHLBB |
Federal Home Loan Bank Board; federal S&L regulator |
FHLBSF |
Federal Home Loan Bank of San Francisco; FHLB with jurisdiction over California, Arizona, and Nevada |
FICO |
Financial Corporation set up to “recapitalize” FSLIC |
FSLIC |
Federal Savings and Loan Insurance Corporation; federal deposit insurer for S&Ls |
FY |
fiscal year |
GAAP |
generally accepted accounting principles |
GAO |
General Accounting Office; federal auditors (recently renamed the Government Accountability Office) |
GPRA |
Government Performance Results Act of 1993 |
IRS |
Internal Revenue Service; federal tax agency |
KIO |
Kuwaiti Investment Office; co-owner with Lincoln Savings of the Phoenician Hotel |
LTOB |
bank board regulation that restricted “loans-to-one-borrower” |
MBS |
mortgage backed securities |
MCP |
management consignment program |
MOU |
Memorandum of Understanding |
NAHB |
National Association of Home Builders |
NAR |
National Association of Realtors |
NASSLS |
National Association of State Savings and Loan Supervisors |
NCFIRRE |
National Commission on Financial Institution Reform, Recovery and Enforcement; appointed to study the causes of the S&L debacle |
NRV |
net realizable value |
OCC |
Office of the Comptroller of the Currency; federal regulator of national banks |
OE |
Office of Enforcement; enforcement office at the Bank Board |
OES |
Office of Examinations and Supervision; original name of the supervisory office at the Bank Board |
OGC |
Office of General Counsel |
Office of Management and Budget; budgetary agency of the federal executive branch |
|
OPER |
Office of Policy and Economic Research; economic office of the Bank Board |
OPM |
Office of Personnel Management; federal personnel agency |
ORPOS |
Office of Regulatory Policy, Oversight, and Supervision; supervisory office of the Bank Board |
OTS |
Office of Thrift Supervision |
PAC |
political action committee |
PR |
public relations |
PSA |
Principal Supervisory Agent |
RAP |
regulatory accounting principles |
RCA |
risk-controlled arbitrage |
REPO |
Reverse Purchase Obligations |
RTC |
Resolution Trust Corporation |
S&L |
savings and loan |
SEC |
Securities and Exchange Commission; federal securities law regulator |
TDR |
troubled-debt restructuring |
TFR |
Thrift Financial Report |
TRO |