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What Is The Status Of Swap Agreements Under Banking Law? |
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Answer» Commercial BANKS and thrift INSTITUTIONS are not subject to the provisions of the Bankruptcy Code. Instead, bank FAILURE resolution is governed by federal and state banking LAWS, which gives the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation (RTC) (in the case of certain savings and loan institutions) CONSIDERABLE discretion in dealing with failing federally insured depository institutions. Commercial banks and thrift institutions are not subject to the provisions of the Bankruptcy Code. Instead, bank failure resolution is governed by federal and state banking laws, which gives the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation (RTC) (in the case of certain savings and loan institutions) considerable discretion in dealing with failing federally insured depository institutions. |
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