Type:Notice
Citation:89 FR 96652
Reading Time:less than a minute
The Federal Deposit Insurance Corporation (FDIC) has completed the process of winding up the affairs of a particular insured depository institution and has liquidated all related assets. The FDIC, acting as the Receiver, has also authorized FDIC-Corporate to handle any necessary paperwork. As of the termination date, the Receivership is officially closed, meaning the Receiver's duties are complete and it no longer exists as a legal entity.
Simple Explanation
The FDIC finished its job of closing down a bank and has sold everything they could. Now, the FDIC has given another part of itself the task of doing any last bits of paperwork, and this job is all done.