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 ?
For information on Community Bankers Trust Corporation, please visit its website at www.
Trust Corporation and the United States Trust Company of New York are paying to the Board a civil money penalty in the amount of $5 million and are making a $5 million monetary payment to the state of New York.
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Federal Trust Corporation is a unitary thrift holding company and is the parent company of Federal Trust Bank, a federally-chartered, FDIC-insured savings bank.
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Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 88 countries.
Ward, Chief Executive Officer and President of Federal Trust Corporation , announced that the Company accepted the resignation of James V.
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Federal Trust Corporation is a unitary thrift holding company and is the parent company of Federal Trust Bank, a $723 million federally-chartered, FDIC-insured savings bank, and Federal Trust Mortgage Company, a Florida corporation, which originates fixed and adjustable rate mortgage loans for sale in the secondary market.
News reports that list Wilmington Trust Corporation (NYSE:WL) among the largest unsecured creditors of TOUSA, Inc.
14 /PRNewswire-FirstCall/ -- Federal Trust Corporation , announced the appointment of Dennis T.