Saturday, June 13, 2009

protection of the depositor by FDIC

IN addition to protecting depositors against loss, the FDIC makes such deposits promptly available in the event of bank failure. In most cases, In 10 days to 2 weeks after the closing of the bank the depositors receive a substantial proportion of their insured deposit directly from the FDIC. If the distressed bank has been placed in receivership, the remainder of the depositor claim is paid after certain assets of the bank have been liquidated.

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