Thrift Institutions Advisory Council

DEFINITION of 'Thrift Institutions Advisory Council'

A council that advises the Federal Reserve board of governors on the various needs and condition of savings institutions. The council is made up of representatives of all types of savings institutions, including banks, credit unions and savings and loans.

BREAKING DOWN 'Thrift Institutions Advisory Council'

The Thrift Institutions Advisory Council was established by the Monetary Control Act of 1980. It was created in order to foment communication between the Federal Reserve Board and the savings industry. The Fed is able to take action based on the reports that it receives from this council.

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RELATED FAQS
  1. What are the requirements for opening a savings account in the United States?

    Understand what information and documentation is necessary to open a savings account within the United States, and learn ... Read Answer >>
  2. Is a Thrift Savings Plan (TSP) a qualified retirement plan?

    Take advantage of the government's retirement plan for employees with the Thrift Savings Plan. As with a 401(k), contributions ... Read Answer >>
  3. What is the difference between a savings & loan company and a bank?

    Find out how a savings and loan company, sometimes also known as a thrift or savings institution, focuses on different types ... Read Answer >>
  4. Who controls the Federal Reserve Bank?

    Read about the ownership and control of the Federal Reserve, the most powerful financial institution in the world and the ... Read Answer >>
  5. Who determines the reserve ratio?

    Understand what the Federal Reserve is and what it regulates in the U.S. economy. Learn about the reserve ratio and how the ... Read Answer >>
  6. What economic factors affect savings account rates?

    Find out how supply, demand and central bank policy all affect savings account rates offered by banks for extra deposits ... Read Answer >>
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