The Federal Deposit Insurance Corporation (FDIC) was established as an independent government corporation under the authority of the Banking Act of 1933, also known as the Glass-Steagall Act, to insure bank deposits. This book discusses recent actions taken by the FDIC in support of financial and housing markets, which include restoration of the Deposit Insurance Fund, the development of the Temporary Liquidity Guarantee Program, efforts to reduce foreclosures, and established of the proposed Public-Private Investment Fund. The Depositor Protection Act of 2009 has also been introduced to increase the effectiveness of the FDIC’s efforts to respond to recent market weaknesses. Moreover, this book compares and contrasts the characteristics of depository institutions with SSFCs. A brief analysis of some important differences between the FDIC’s conservatorship/receivership authority and that of the Bankruptcy Code is also given.
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