Academic journal article ABA Banking Journal

Getting Started with Resolution Trust

Academic journal article ABA Banking Journal

Getting Started with Resolution Trust

Article excerpt

Getting started with Resolution Trust

It was bound to happen sooner or later. Banks and numerous other providers of everything from financial services to magazines to silverplated miniature antique cars market through toll-free 800 numbers. Now the Resolution Trust Corp. does, too.

Dial 1-800-RTC-4033 and you can obtain a packet of information that gives you all the basics of how to go about acquiring a thrift from the RTC.

How-to-guide. The centerpiece of the package is a 20-page booklet, A Buyer's Guide: How to Purchase a Savings Association from the RTC. The text portion of the booklet explains what types of institutions are for sale; when they will be sold; the types of purchase options RTC will generally offer to buyers; the process through which institutions are sold; prerequisites for being considered by RTC; and who to contact when you're ready to begin.

The booklet also includes detailed listings of various parts of RTC and other agencies that will be involved in the thrift acquisition process.

More paper. In addition to the pamphlet, the RTC kit includes other documents.

One of these lists the total number of institutions in each affected state that are under RTC control. Key information is listed for each institution, including total assets, total deposits, and the number of deposit accounts held.

The remainder of the package consists of information sheets that interested buyers must fill out and return to RTC in order to be added to the agency's list of potential purchasers. …

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