Type:Notice
Citation:90 FR 9080
Reading Time:less than a minute
The Federal Deposit Insurance Corporation (FDIC) has announced its intent to terminate the receiverships for certain institutions, as their asset liquidation has been completed. The FDIC plans to make a final dividend payment to authorized creditors, as allowed by the funds available. The notice specifies that these receiverships will end at least 30 days following the announcement date. Interested parties have until this deadline to submit written comments regarding these terminations.
Simple Explanation
The FDIC plans to close down certain banks they took over because they sold everything they could. People who are owed money have 30 days to speak up if they have something to say about this.