What does TFR mean in FINANCE
TFR stands for Thrift Financial Report. This is an essential document for any thrift institution, such as a savings and loan or credit union. It is used to report the financial condition of the institution and must be filed with a regulatory agency, such as the Federal Deposit Insurance Corporation (FDIC).
TFR meaning in Finance in Business
TFR mostly used in an acronym Finance in Category Business that means Thrift Financial Report
Shorthand: TFR,
Full Form: Thrift Financial Report
For more information of "Thrift Financial Report", see the section below.
Essential Questions and Answers on Thrift Financial Report in "BUSINESS»FINANCE"
What is a Thrift Financial Report?
A Thrift Financial Report (TFR) is a document used to report the financial condition of a thrift institution, such as a savings and loan or credit union. It must be filed with a regulatory agency, such as the Federal Deposit Insurance Corporation (FDIC).
What information does a TFR include?
A TFR includes information about the institution's assets and liabilities, its income and expenses, statement of changes in members' accounts, and other relevant information.
Who needs to file a TFR?
Any thrift institutions are required by law to submit a TFR to their regulatory agency (such as FDIC) annually or on request.
How often does an institution need to file its TFR?
The frequency of filing depends on the size and complexity of the institution. Generally speaking, thrifts must file their annual TFR reports within four months after their fiscal year ends.
What happens if an institution fails to submit its TFR?
Failure to submit an accurate and timely TFR can result in civil penalties or administrative sanctions being imposed by regulators.
Final Words:
A Thrift Financial Report (TFR) is an important document that any thrift institution must file with their regulatory agency annually or on request in order to provide details about their financial condition. The submission of this report helps regulators monitor and protect consumers from risks associated with financial institutions.
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