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IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC). Before its failure, IndyMac Bank was the largest savings and loan association in the Los Angeles area and the seventh largest mortgage ...
The Federal Deposit Insurance Corporation ( FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. [7] : 15 The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system.
The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
The FSLIC would suspend insurance premiums whenever the FSLIC's reserve fund was greater or equal to 5% of all insured accounts and creditor obligations of all insured institutions. The FSLIC was administered by the Federal Home Loan Bank Board (FHLBB). Insolvency. In the 1980s, during the savings and loan crisis, the FSLIC became insolvent. It ...
Index funds are mutual funds or exchange-traded funds (ETFs) that have one simple goal: To mirror the market or a portion of it. For example, an S&P 500 index fund tracks the collective ...
The majority of money market accounts are with federally insured banks and credit unions. You can use the FDIC’s BankFind Suite to confirm that your bank is FDIC insured. Likewise, you can ...
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( FIRREA ), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
The FDIC-guaranteed debt would be collateralized by the purchased assets and the FDIC would receive a fee in return for its guarantee. Private sector partners manage the assets: once the assets have been sold, private fund managers will control and manage the assets until final liquidation, subject to strict FDIC oversight. Legacy securities