Resolution Trust Corporation

The Resolution Trust Corporation was established on August 9, 1989, by the Financial Institutions Reform, Recovery, and Enforcement Act of1989 (12 U. S. C. 1441a). The duties of the Corporation were: (1) the managing and resolving all cases involving depository institutions, the accounts of which were insured by the former Federal Savings and Loan Insurance Corporation prior to August 9, 1989; (2) conducting the operations of the Corporation in such a way as to maximize the return of value from the sale or other disposition of depository institutions or their assets, while minimizing the impact on real estate and financial markets and minimize losses to the Government; and (3) maximizing the availability and affordability of residential real property for low- and moderate-income individuals. The Resolution Trust Corporation was abolished by act of Dec. 12, 1991 (105 Stat. 1769). Corporation functions terminated pursuant to act of Dec. 17, 1993. (107 Stat. 2369).