TeachMeFinance.com - explain Resolution Trust Corporation (RTC)
Resolution Trust Corporation (RTC) -- 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.
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