FDIC ANNOUNCES "MANAGING THE CRISIS: THE FDIC AND RTC EXPERIENCE," A SYMPOSIUM
ON RESOLVING BANK AND THRIFT FAILURES IN THE 1980s AND '90s
FOR IMMEDIATE RELEASE PR-04-98 (1-26-98)
Media Contact: David Barr (202) 898-6992
The Federal Deposit Insurance Corporation (FDIC) today announced it will host a symposium April 29-30 that will examine the experience of the FDIC and the Resolution Trust Corporation (RTC) in resolving troubled banks and thrifts during the financial crisis of the 1980s and early 1990s.
Current and former FDIC and RTC executives will discuss the strategies they used to maintain market stability during the period 1980 - 1994 when 1,617 banks and 1,295 thrifts failed. Financial institution representatives, members of the media, scholars, officials of other regulatory and government agencies, and private sector professionals will also participate in the symposium.
In January 1997, the FDIC held a symposium on the supervisory and policy lessons learned from the financial crisis of the 1980s and early 1990s. Papers and proceedings from that symposium, which focused on issues leading up to the financial institution failures of the period, were recently published and made publicly available.
The April event announced today follows up on the earlier symposium by addressing the issues and events occurring after the bank and thrift failures. Papers and proceedings from this symposium also will be published and made available.
"Managing the Crisis: The FDIC and RTC Experience" will include panel discussions covering four topics: (1) the evolution of resolution strategies developed by the FDIC and RTC, (2) the FDIC's and RTC's innovative techniques that disposed of a substantial volume of assets, (3) the resolution strategies used by other countries, and (4) the FDIC's and RTC's most difficult challenges in resolving troubled institutions during the crisis, with a look ahead to the future.
"Managing the Crisis: The FDIC and RTC Experience" is the second of three symposia planned for 1998 that will deal with federal deposit insurance issues. The first symposium, on deposit insurance and financial modernization, is scheduled for January 29. The third, on international deposit insurance issues, is planned for the fall.
"Managing the Crisis: The FDIC and RTC Experience" will be held at the Sheraton National, Arlington, Virginia, from 9:00 am on Wednesday, April 29, through 12:30 pm on Thursday, April 30. For further information, please call Stan Ivie at (202) 898-6646.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 11,027 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.
FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov and
may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).