The Federal Deposit Insurance Corporation has taken steps
to appear as plaintiff in two actions involving supervisory goodwill
that are pending in the U.S. Court of Federal Claims. The
Corporation is also analyzing a number of other cases involving
closed institutions with possible goodwill claims to determine
whether the FDIC should become a plaintiff in some of the cases.
In appearing in these cases as plaintiff, the FDIC is acting
in its capacity as the successor to the Resolution Trust Corporation
in furtherance of its responsibilities as receiver and liquidator for
failed institutions. In its capacity as manager of the FSLIC
Resolution Fund, the FDIC will continue to assist the Department
of Justice in its defense of goodwill claims of both open and failed
institutions by making records and personnel available to the
government. The General Counsel of the FDIC, William F.
Kroener III, has established separate teams of attorneys and other
FDIC staff to assure that the two distinct statutory functions are
The agency plans to appear in the Claims Court July 30 in a
proceeding involving all pending cases and may comment further
Congress created the Federal Deposit Insurance Corporation in 1933 to
restore public confidence in the nation's banking system. The FDIC
insures deposits at the nation's 12,000 banks and savings associations
and it promotes the safety and soundness of these institutions by
identifying, monitoring and addressing risks to which they are exposed.
FDIC press releases and other information are available on the Internet
via the World Wide Web at www.fdic.gov or through Gopher at gopher.fdic.gov.