Bank organized to assume the deposits and secured liabilities of an insolvent bank. The Federal Deposit Insurance Corporation was given authority to charter these temporary banks by the Competitive Equality Banking Act of 1987. The FDIC has the authority, using a bridge bank, to operate a failed bank for up to three years until a buyer can be found.
Bridge Bank
| Banking Dictionary: Bridge Bank |
| 5min Related Video: Bridge Bank |
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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