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The 1980s was a turbulent period in the history of the savings and loan industry. The high inflation and high interest rates of the 1970s and early 1980s combined with an abrupt shift in real-estate tax codes and a severe economic downturn to expose the illiquid and undiversified portfolios of most savings institutions. As market interest rates rose above regulated savings-deposit rates, institutions were faced with heavy withdrawals and a shortage of funds. Moreover, their largely fixed-rate mortgage portfolios had declined in value. Hence, much of the industry was technically insolvent. The federal government responded first by removing deposit interest-rate ceilings in order to allow institutions to compete for deposits, and subsequently by allowing greater diversification. Unfortunately, the regulation of the industry failed to keep pace with the new developments, and many institutions that were insolvent.
Records of thrift and loan companies that failed in Utah during the 1980s.
Failed Utah Thrifts and Loans Collection, 1964-1988, Utah State Historical Society.
Transferred from the Utah State Archives.
The Failed Utah Thrifts and Loans Collection is the physical property of the Utah Historical Society, Salt Lake City, Utah. Literary rights, including copyright, may belong to the authors or their heirs and assigns. Please contact the Historical Society for information regarding specific use of this collection.
Photographs have been removed and filed as Mss C 1050.