A government agency established in 1989 and disbanded in 1996 that administered federal savings and loan institutions that were insolvent between 1989 and August 1992 by either bailing them out or merging them.
A federal agency that succeeds the former federal savings and loan insurance corporation (FSLIC) as a conservator or receiver of FEDERAL SAVINGS AND LOAN ASSOCIATIONS (S&Ls) that became insolvent while insured by the FSLIC. One of the agency's functions is to dispose of assets of insolvent S&Ls. With the abolition of the FSLIC in 1989, such associations are now insured by the FDIC. See also FEDERAL DEPOSIT INSURANCE CORPORATION.
A government agency responsible for managing and resolving the affairs of insolvent savings and loan associations placed into receivership by the FDIC. This includes the liquidation, operation and sale of thrift institutions and thrift assets.
Federal agency created by the Financial Institutions Re- form, Recovery and Enforcement Act of 1989 to oversee management and liquidation of assets of failed savings and loan associations.
A temporary federal government corporation chartered by congress in 1989 and affiliated with the fdic that: (1) ensures that customers of failed thrifts have access to their insured deposits, and (2) disposes of the assets of failed thrifts. The rtc receives overall policy guidance from the thrift depositor protection oversight board. The rtc was scheduled to finish its work and go out of business by december 31, 1995, and stopped accepting newly failed institutions on june 30, 1995. All subsequent business was to be handled by the fdic.... read full article
a federal agency created by FIRREA to manage and resolve insolvent savings and loan associations placed into its conservatorship or receivership. The agency is supervised by the Federal Deposit Insurance Corporation.
The agency established by Congress to oversee the management and disposition of failed savings and loans and their assets.
The organization created by FIRREA to liquidate the assets of failed savings and loan associations.
Federal agency, which was created by Firrea to manage or liquidate insolvent savings and loan associations that, have been placed into receivership. The RTC is supervised by the Federal Deposit Insurance Corporation.
RTC Corporation formed in 1989 pursuant to FIRREA to close failed savings and loan associations and liquidate their assets which were primarily real estate secured loans. The RTC was closed as of 12/31/95 and its remaining assets and duties were transferred to the FDIC.
The Resolution Trust Corporation was a US government-owned asset management company mandated to liquidate assets (primarily real estate-related assets, including mortgage loans) that had been assets of savings and loan associations ("S&Ls") declared insolvent by the Office of Thrift Supervision. It also took over the insurance functions of the former Federal Home Loan Bank Board. It was created by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), adopted in 1989.
