Resolution Trust Corporation

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Resolution Trust Corporation (RTC)

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.

Resolution Trust Corporation

An agency of the United States government that was charged with closing thrifts declared to be insolvent. It also issued bailout bonds and paid for the reorganization and the financing of thrifts that were bankrupt but could still function. It was established by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and was closed in 1996.

Resolution Trust Corporation (RTC)

A corporation that no longer exists,but had a major impact on U.S. real estate markets. The RTC was formed in the wake of the banking and thrift crisis and bailouts of the mid to late 1980s.As lending institutions were declared insolvent and closed by their various regulatory agencies,the Federal Deposit Insurance Corporation (FDIC) or the Federal Savings and Loan Insurance Corporation (FSLIC,pronounced “fizz-lick”) arranged for payments to depositors and then took over the assets of the failed institutions.The assets could include performing and nonperforming loans, real estate, vehicles, equipment, furniture, and often rare and expensive artwork and accessories.The task of managing and liquidating the assets proved too much, so the government created the RTC to take over those functions.The mandate of the RTC was to liquidate assets, including real estate,as quickly as possible,even if a higher price might be obtained by holding the assets and managing sales over a longer period of time.Billions of dollars of real estate came into the hands of the RTC.The real estate was then sold,often for pennies on the dollar,and as a result many real estate markets were seriously depressed and took years to recover.

References in periodicals archive ?
Espenilla said that insurance and asset management companies, in particular, have been inquiring about BSP procedures on trust corporations.
Trust corporations are included in the liberalized foreign banking regulation and are allowed to increase ownership up to 100 percent.
In June, the BSP eased up on the P300-million minimum capital compliance for trust corporations to encourage more interests in spinning off trust departments from regular banks.
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Northern Trust Corporation (Northern Trust or the company) is a financial holding company.
Provides all the crucial information on Northern Trust Corporation required for business and competitor intelligence needs
Contains a study of the major internal and external factors affecting Northern Trust Corporation in the form of a SWOT analysis as well as a breakdown and examination of leading product revenue streams of Northern Trust Corporation
Data is supplemented with details on Northern Trust Corporation history, key executives, business description, locations and subsidiaries as well as a list of products and services and the latest available statement from Northern Trust Corporation
Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory services to high-net-worth clients in 33 countries, and Corporate Client services to institutional clients in 86 countries.
Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory services to high-net-worth clients in 36 countries, and Corporate Client services to institutional clients in 89 countries.