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    FDIC Chairman Sheila Bair addresses the Institute of International Bankers conference
    2009-11-11

    Yesterday, FDIC Chairman Sheila Bair, the keynote speaker at the Institute of International Bankers Cross-Border Insolvency Issues Conference in New York, stressed the need to end the “too big to fail” mentality by “eliminating the belief that the government will always support large, interconnected financial firms.” Chairman Bair noted that in order to do so, “we need an effective mechanism to close large, financial intermediaries when they get into trouble.”

    Filed under:
    USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Market liquidity, Holding company, Depository institution, Deposit insurance, Capital requirement, Federal Deposit Insurance Corporation (USA)
    Authors:
    Maureen Whalen
    Location:
    USA
    Firm:
    Alston & Bird LLP
    FDIC creates Deposit Insurance National Bank to facilitate the resolution of Citizens State Bank
    2009-12-21

    On Friday, the Michigan Office of Financial and Insurance Regulation closed Citizens State Bank, headquartered in New Baltimore, Michigan, and the FDIC was named as receiver.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Deposit insurance, Federal Deposit Insurance Corporation (USA)
    Location:
    USA
    Firm:
    Alston & Bird LLP
    FDIC creates Deposit Insurance National Bank to facilitate the resolution of Citizens State Bank
    2009-12-21

    On Friday, the Michigan Office of Financial and Insurance Regulation closed Citizens State Bank, headquartered in New Baltimore, Michigan, and the FDIC was named as receiver.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Deposit insurance, Federal Deposit Insurance Corporation (USA)
    Location:
    USA
    Firm:
    Alston & Bird LLP
    FDIC Chairman Sheila Bair addresses the Institute of International Bankers conference
    2009-11-11

    Yesterday, FDIC Chairman Sheila Bair, the keynote speaker at the Institute of International Bankers Cross-Border Insolvency Issues Conference in New York, stressed the need to end the “too big to fail” mentality by “eliminating the belief that the government will always support large, interconnected financial firms.” Chairman Bair noted that in order to do so, “we need an effective mechanism to close large, financial intermediaries when they get into trouble.”

    Filed under:
    USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Market liquidity, Holding company, Depository institution, Deposit insurance, Capital requirement, Federal Deposit Insurance Corporation (USA)
    Location:
    USA
    Firm:
    Alston & Bird LLP
    House delays vote on mortgage relief legislation
    2009-02-27

    Yesterday afternoon, the House delayed a vote on H.R. 1106, “Helping Families Save Their Homes Act of 2009” (the “Act”) after a little over an hour of debate, amidst unexpected opposition from some Democrats.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Real Estate, Alston & Bird LLP, Bankruptcy, Debtor, Fraud, Mortgage loan, Foreclosure, Deposit insurance, US Department of Justice, Federal Deposit Insurance Corporation (USA), Government Accountability Office, US House of Representatives, United States bankruptcy court, US Secretary of the Treasury
    Location:
    USA
    Firm:
    Alston & Bird LLP
    Fifth Georgia bank failure of 2008
    2008-12-12

    Today, the Georgia Department of Banking and Finance closed Haven Trust Bank, headquartered in Duluth, Georgia and the FDIC was appointed as receiver.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Deposit insurance, Federal Deposit Insurance Corporation (USA)
    Location:
    USA
    Firm:
    Alston & Bird LLP
    SDIF starting to repay depositors of Bank Asya
    2016-12-07

    Recent Development

    Filed under:
    Turkey, Banking, Insolvency & Restructuring, Baker McKenzie, Deposit insurance
    Authors:
    Muhsin Keskin , Dr. Erdal Ekinci
    Location:
    Turkey
    Firm:
    Baker McKenzie
    FDIC Seeks Comment on Revised Deposit Insurance Assessment Rule
    2016-02-05

    On January 21, the Federal Deposit Insurance Corporation (FDIC) announced that it was seeking comment on a revised proposed rule that would amend the way small banks are assessed for deposit insurance. The proposed rule would affect banks with less than $10 billion in assets that have been insured by the FDIC for at least five years.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Insurance, Katten Muchin Rosenman LLP, Deposit insurance, Federal Deposit Insurance Corporation (USA)
    Authors:
    Jeffrey M. Werthan
    Location:
    USA
    Firm:
    Katten Muchin Rosenman LLP

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