modified payoff


Partial reimbursement to depositors of failed banks. This form of deposit insurance was introduced in the early 1980s by the Federal Deposit Insurance Corporation for deposits over $100,000 per account. The modified payoff is paid for the amount not covered by FDIC.

Use modified payoff in a sentence

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
modified pass-through modified prior approval state