Financial Institution Insolvency : Federal Authority over Fannie Mae, Freddie Mac, and Depository Institutions.

Format:

Book

Government document

Author/Creator:

Library of Congress. Congressional Research Service.

Language:

English

Subjects (All):

Banks and banking.

Business cycles.

Finance--Law and legislation.

Finance.

Physical Description:

1 online resource (32 pages, digital, PDF file)

Place of Publication:

[Place of publication not identified] : [publisher not identified], 2008.

System Details:

text file

Summary:

Addresses Federal authority over FNMA (Fannie Mae), the Federal Home Loan Mortgage Corp. (Freddie Mac), and depository institutions, in light of Federal Housing Finance Agency (FHFA) decision to place them in conservatorship; due to turmoil in the housing, mortgage, and financial markets. Details FDIC bank and thrift insolvency process, including appointment of a conservator or receiver over banks and thrifts; FDIC conservatorship or receivership powers; options for resolving bank and thrift insolvencies; FDIC claims process as receiver; and payment of claims and priority of claimants. Examines authority given to FHFA by P.L. 110-289, the Housing and Economic Recovery Act of 2008; including process initiation; when conservatorship and receivership are selected, and distinctions between the two; when judicial review is available, priorities for claims against a receivership, and authority for repudiating claims.

Notes:

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Dec. 2010). Reuse except for individual research requires license from ProQuest, LLC.

CRS Report.

Other Format:

Microfiche version: Library of Congress. Congressional Research Service. Financial Institution Insolvency

Access Restriction:

Restricted for use by site license.