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 ?
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S.
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However, it can have a stake in multiple trust corporations.
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said there are renewed interests from financial companies to set up stand-alone trust corporations in the country.
Board of directors of Community Bankers Trust Corporation (NASDAQ: ESXB) has declared a USD 0.03 per share quarterly dividend on outstanding common stock, the company said.
Community Bankers Trust Corporation (NASDAQ: ESXB), the holding company for Essex Bank, has said that its board of directors has declared a quarterly cash dividend of USD0.03 per share on its common stock.
In the circular memo, the asset under management (AUM) for a stand-alone trust corporation which are also subsidiaries of a quasi bank, will not be calculated as part of the quasi bank's SBL, as well as the imposed ceilings of the parent company's DOSRI (directors, officers, stockholders and their related interests).
At the same time, Phoenix Four helped the owners' corporation to negotiate with the Resolution Trust Corporation (RTC) for the return of unsold shares to the corporation.
Second-quarter call data for the nation's 2,089 privately owned savings and loan institutions and those controlled by the Resolution Trust Corporation showed a continued improvement in their financial condition.
M2 EQUITYBITES-June 10, 2019--Community Bankers Trust Corporation declares dividend