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TeachMeFinance.com - explain income capital certificate (ICC) income capital certificate (ICC) -- an instrument developed by the former Federal Savings and Loan Insurance Corporation to provide assistance to troubled thrift institutions. Under the program, the thrift issued ICCs to the FSLIC in return for cash or the FSLIC's promissory notes. The thrift was allowed to count outstanding ICCs as part of its net worth (minimum required capital). As the institution regained financial health, the ICCs were retired. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.