Resolution Trust Corporation

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Resolution Trust Corporation

(RTC), in U.S. history, government-owned company formed in 1989 to liquidate the assets of insolvent savings and loan associationssavings and loan association
(S&L), type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public.

The first U.S. S&L was founded in 1831.
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 (S&Ls). Essentially a huge property-management company operated as an agent of the federal government, the RTC had as its primary mission the disposal (at maximum value) of office buildings, homes, loans, and other assets that were held by bankrupt thrifts in order to reduce taxpayer costs associated with the S&L bailout. Hundreds of S&Ls, which had taken advantage of lax regulations and invested in high-risk real estate and other imprudent assets, failed in the 1980s, and after the Federal Savings and Loan Insurance Corporation itself became insolvent and the Federal Deposit Insurance Corporation assumed its responsibilites, the RTC was created. By the time the RTC was dissolved in 1995, it had closed or reorganized 747 institutions and managed to sell off some $400 billion in assets. The eventual cost to the taxpayers was approximately $130 billion, well below original estimates.
References in periodicals archive ?
Control of the leased GuestHouse property dates back to a June 1992 deal with the Resolution Trust Corp.
Earlier, Wolk served as Assistant General Counsel for real estate and asset disposition at the Resolution Trust Corp.
Prior to joining RBS, Larocca was a senior vice president at Lehman Brothers in the mortgage finance business, managed the consumer and single family securitisation business for the Resolution Trust Corp.
Before moving to Florida in 1995, he worked as a federal regulator with the Resolution Trust Corp.
It would enable them to pool together all the bad assets into a 'bad bank', an idea that has a successful precedent in Resolution Trust Corp that emerged from the saving and loans crisis of the 1980s.
It's too early to know whether a government-created entity, such as a Resolution Trust Corp.
The envisaged bailout entity is expected to be modeled after Resolution Trust Corp.
The model mentioned most often is the Resolution Trust Corp.
A few years later, the chairman of the Fed would serve on the board of Resolution Trust Corp.
30 Kyodo The ruling Liberal Democratic Party (LDP) and the opposition should consider giving wide-ranging powers to a planned Japanese version of the Resolution Trust Corp.
The KPERS lawsuit sought more than $100 million in alleged investment losses from the auditing firm, including a $65 million investment in 1986 in Home Savings & Loan Association, a thrift in Kansas City, Missouri, taken over by the Resolution Trust Corp.
Indeed, the study of the Whitewater land deal commissioned by the Resolution Trust Corp.