Type:Notice
Citation:90 FR 10500
Reading Time:less than a minute
The Federal Deposit Insurance Corporation (FDIC) announced its plan to end the receivership of an institution, as the process of liquidating its assets is complete. The FDIC will make a final payment to verified creditors using the available funds. The receivership's termination is set to occur no less than 30 days from the notice's release date. Individuals wishing to comment on this decision must submit their remarks in writing to the FDIC within the 30-day window.
Simple Explanation
The FDIC is planning to stop watching over a bank because they've finished selling everything the bank owned. They'll pay back the people the bank owed money to one last time, and anyone who wants to say something about this plan has to write to them within 30 days.