Business and Personal Finance Dictionary

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• NET WORTH CERTIFICATE
  
  an instrument authorized by the Garn-St Germain Depository Institutions Act of 1982, to assist thrift institutions in meeting minimum regulatory net worth requirements. A thrift participating in the program issued net worth certificates to the former Federal Savings and Loan Insurance Corporation (FSLIC) in return for the FSLIC's promissory notes. The notes could be counted as part of the institution's net worth. As the institution regained financial health, it redeemed the net worth certificates by returning the FSLIC's promissory notes.
  
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