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Old Court Savings and Loans : ウィキペディア英語版 | Old Court Savings and Loans Old Court Savings and Loan (Old Court Thrift Savings) was a savings and loan association headquartered in Pikesville, Maryland, United States, that failed due to embezzlement by its president Jeffrey Levitt, which led to the failure of the state deposit insurance corporation. ==Collapse of state deposit insurance corporation== In 1962 Maryland established a quasi-public non-profit corporation, the Maryland Savings-Share Insurance Corporation (MSSIC), to insure accounts held in state chartered savings and loan associations. In May 1985, rumors of financial instability at two thrifts, Old Court and Merritt Commercial Savings and Loan. Old Court had recently grown from $86 million in deposits to $839 million in only three years by offering high deposit interest rates, allowing it to make risky loans. Merritt was considered to be at risk as a result of loans made to a failed repo company. The rumours led to depositors questioning whether MSSIC was financially able to guarantee all of the deposits, resulting in a run on all state savings and loan associations. This led to the withdrawal of deposits, the failure of Old Court and the subsequent collapse of MSSIC. To temporarily protect other state savings and loan associations, Governor Harry Hughes issued an executive order limiting withdrawals to $1000 per month.〔 The Maryland General Assembly during two special sessions in 1985 established the Maryland Deposit Insurance Fund (MDIF) to replace the MSSIC.〔
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「Old Court Savings and Loans」の詳細全文を読む
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