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When it becomes clear that a bank is failing, many things happen in a short amount of time. The banks chartering authority, that is, the government entity that authorizes it to operate as a bank, generally gives it 90 days to take Prompt Corrective Action, that is, to either recapitalize or sell itself to another bank. Financial regulators, including the chartering authority and the FDIC, prefer the bank succeed in this effort. But in case it doesnt, the FDIC uses that same 90-day period to make plans and be ready to implement the Resolution Process. This involves managing the closing and sale of the banks operations to another bank. The FDIC has three main goals for any resolution. Onekeep its promise to insured depositors. Twominimize disruption to bank customers and the local community. And threeresolve the bank at the least cost to the Deposit Insurance Fund. Heres how the FDIC makes that happen. First a team of experts analyzes and assesses the financial condition of the f
