History
It was established in 1989 by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), and was overhauled in 1991.
In 1995 its duties were transferred to the Savings Association Insurance Fund (SAIF) of the Federal Deposit Insurance Corporation (FDIC). In 2006 the SAIF and its sister fund for banks—the bank insurance fund (BIF)—also administered by the FDIC, were combined to form the Deposit Insurance Fund (DIF) under the provisions of the Federal Deposit Insurance Reform Act of 2005.
Read more about this topic: Resolution Trust Corporation
Famous quotes containing the word history:
“Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?”
—Alexander Herzen (1812–1870)
“The history of every country begins in the heart of a man or a woman.”
—Willa Cather (1876–1947)
“The history of the world is none other than the progress of the consciousness of freedom.”
—Georg Wilhelm Friedrich Hegel (1770–1831)