| |
IndyMac |
Washington Mutual |
Wachovia |
Citigroup |
Bank of America |
Event Date:
Date of Failure
Date of Bail-out |
2008/7/11(Fri) |
2008/9/25(Thur) |
2008/9/29(Mon) |
2008/11/23(Sun) |
2009/1/16(Fri) |
| 2009/1/2(Fri) |
| Types of Resolution and Bail-Out |
Bridge Bank → P&A |
P&A |
Open Bank Assistance |
Open Bank Assistance |
Open Bank Assistance |
| Systemic Risk Exception |
No |
No |
Yes |
Yes |
Yes |
| Assuming Financial Institutions |
Bridge Bank→IMB Hold Co LLC |
JPMorgan Chase |
Citigroup Inc |
- |
- |
| Coverage |
Insured Deposits Only |
Full Coverage |
Full Coverage |
Full Coverage |
Full Coverage |
Other Debt
(Eligible Financial Contract) |
Excluded from Coverage
(covered by insurance) |
Excluded from Coverage
(inherited by assuming financial institutions) |
Assumed
(inherited by assuming financial institutions) |
Covered
(covered) |
Covered
(covered) |
| Shareholders |
Excluded from Coverage |
Excluded from Coverage |
Paid $1 per share |
Covered |
Covered |
| Process of Resolution and Bail-Out |
July 2008:
Establishment of a Bridge Bank
January 2009:
Sold to IMB Hold Co LLC under IMB Management Holdings LP with a loss share agreement |
September 2008:
- Sales of banking operations to JP Morgan Chase
- Paid FDIC $1.9 billion dollars |
September 2008:
-Sales of banking operations to Citigroup
-A loss share agreement with Citigroup by FDIC
-Granted FDIC preferred stock and warrants. |
-$20 billion of capital injection by TARP in addition to $25 billion injection of bailout money.
-a government guarantee of $301 billion by Treasury Dept. and FDIC
-a non-recourse loan by FRB
-Granted FDIC preferred stock and Treasury Dept. preferred stock and warrants |
-$20 billion of capital injection by TARP in addition to $25 billion injection of bailout money.
-a government guarantee of $118 billion by Treasury Dept. and FDIC
-a non-recourse loan by FRB
-Granted FDIC preferred stock and warrants |
| Possible Loss |
$8.5~9.4 billion |
$0 |
- |
Up to $10 billion as indemnification of loss |
Up to $10 billion as indemnification of loss |