Search Results for keywords:"FDIC-Corporate"

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Search Results: keywords:"FDIC-Corporate"

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  • 2025-02313 — Notice of Termination of Receiverships
    Type:Notice
    Citation:90 FR 9081
    Reading Time:less than a minute

    The Federal Deposit Insurance Corporation (FDIC) acted as the Receiver for certain insured banks, handling the closure and asset liquidation of these institutions. The FDIC has completed its duties, distributed necessary dividends, and subsequently appointed FDIC-Corporate to handle any remaining documentation. As of the listed termination dates, the receiverships are officially closed, and the entities no longer exist legally. This action is backed by the authority of U.S. law.

    Simple Explanation

    The FDIC, like a caretaker for banks that couldn't keep going, has finished its job of closing them down and handling their left-behind stuff, so now there's nothing left for these banks to do. They have given the job of looking after any leftover paperwork to another part of FDIC, meaning these banks are like toys that got put away and don't get to play anymore.

  • 2021-02783 — Notice of Termination of Receiverships
    Type:Notice
    Citation:86 FR 9071
    Reading Time:less than a minute

    The Federal Deposit Insurance Corporation (FDIC), acting as the Receiver for several insured banks, has completed its role of wrapping up the banks' affairs and liquidating their assets. The FDIC has transferred the authority to execute any necessary legal documents to FDIC-Corporate. As a result, the receiverships have been terminated and no longer exist as legal entities.

    Simple Explanation

    The FDIC, like a helper for banks that are closing down, finished its job of taking care of some banks' leftover things and selling their stuff. Once everything was sorted out, they passed on the paperwork to another part of FDIC, and now these specific helpers are no longer needed.

  • 2024-28456 — Notice of Termination of Receiverships
    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.