Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What was the Resolution Trust Corporation (RTC)?

April 26, 2017corporation resolution RTC Trust

0

Posted

What was the Resolution Trust Corporation (RTC)?

1 Answer

0

Posted

The RTC was created following the savings and loan crisis in 1980s. The government inherited thousands of failed small banks and had to dispose of the real estate assets and mortgage-related loans of the thrifts. It originated as part of the Federal Institutions Reform and Recovery Act of 1989. Before the RTC was formed to deal with the mess, the Federal Savings and Loan Insurance Corporation (FSLIC) had closed 294 thrifts.