Resolution Trust Corporation: Asset Purchase Option for Resolution of City Federal Savings Bank
GGD-93-77
Published: Apr 30, 1993. Publicly Released: Apr 30, 1993.
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Highlights
Pursuant to a congressional request, GAO reviewed the Resolution Trust Corporation's (RTC) asset purchase option agreement to determine whether the selection and sale of assets complied with asset disposition statutory requirements, focusing on: (1) the City Federal Savings Bank resolution transaction and asset purchase option; and (2) RTC obligations and efforts to satisfy the requirements of the asset purchase option.
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AssetsBank failuresBank managementFederal corporationsFederal property managementInsured commercial banksProperty disposalPurchase ordersSavings and loan associationsStatutory law