Resolution Trust Corp. - Investment & Finance Definition
The government agency that was responsible for bailing out the U.S. savings and loan institutions that had become insolvent during the 1980s. The Resolution Trust Corp. either merged failed savings and loans with healthier competitors or closed them and paid off account holders. The RTC replaced the Federal Savings and Loan Insurance Corp. (FSLIC), which was shut down after the savings and loan crisis.
The RTC’s charter ended in 1996 and its duties were given to the Savings Association Insurance Fund (SAIF), which is part of the Federal Deposit Insurance Corp.