TITLE

A Close Look at the FDIC's handling of NextCard

AUTHOR(S)
Salmon, Jeffrey
PUB. DATE
August 2002
SOURCE
Asset Securitization Report;8/5/2002, Vol. 2 Issue 31, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Assesses the management of NextBank under the Federal Deposit Insurance Corp. (FDIC) receivership. Decision of FDIC to stop the early amortization of the credit card asset-backed securitization of NextBank; Motive of FDIC for exercising supervisory powers; Details on the guidance for credit card banks issued by FDIC.
ACCESSION #
7155144

 

Related Articles

  • Time's Up: FDIC Shutters NextCard. Kuykendall, Lavonne // American Banker;7/11/2002, Vol. 167 Issue 131, p1 

    Reports on the U.S. Federal Deposit Insurance Corp.'s (FDIC) shutdown of NextBank's securitized portfolio of credit card accounts in July 2002. Invitation for other Visa banks to offer balance transfers to more creditworthy customers; Acknowledgment that there would be no buyer for the NextCard...

  • With scrutiny, FDIC eyes credit card accrued interest receivable. Gregory, Michael // Asset Securitization Report;3/18/2002, Vol. 2 Issue 11, pN.PAG 

    Reports on the U.S. Federal Deposit Insurance Corp.'s scrutiny of so-called accrued interest receivables, subordinated receivables generated throughout the life of credit card secutitizations. Use of accrued interest receivables as credit enhancement for senior notes; Application of capital rules.

  • Proposals Take Aim at Securitization. Rosta, Joseph // U.S. Banker;Nov2008, Vol. 118 Issue 11, p14 

    The article reports that asset-backed securities (ABS), aside from the mortgage-backed bonds, remain to essential to the status of financial institutions. According to the Federal Deposit Insurance Corporation, the U.S. credit card issuers rely on ABS financing to provide more than 50 percent of...

  • FEDERAL DEPOSIT INSURANCE CORPORATION.  // Federal Register (National Archives & Records Service, Office of;4/30/2014, Vol. 79 Issue 83, p24428 

    The article offers information on notice for interested parties of the Nextbank, National Association, Phoenix, Arizona from Federal Deposit Insurance Corp. (FDIC).

  • It Wasn't Perfect, But the FDIC Handled NextBank Failure Well. ALEXANDER, GEORGE; MALAMI, RALPH; WALL, DAVID N. // American Banker;10/18/2002, Vol. 167 Issue 200, p9 

    Focuses on how the U.S. Federal Deposit Corp. has handled the failure of NextBank. Overview of NextBank Co.; Reason for the failure of NextBank; Legal operations involved during the trials of NextBank.

  • The Resolution of NextBank: Did FDIC Make Costly Blunder? BLACKWELL, ROB // American Banker;12/26/2002, Vol. 167 Issue 246, p1 

    Analyzes the management of Federal Deposit Insurance Corp. (FDIC) in resolving the business failure of NextBank Inc. Possibility of a scrutiny over the steps of FDIC in resolving business failures of banks; Decision of FDIC that has caused the possibility of a scrutiny over the agency's...

  • Bair Confirms Securitization Extension. Adler, Joe // American Banker;3/5/2010, Vol. 175 Issue F309, p3 

    The article states that the chairman of the Federal Deposit Insurance Corp., Sheila Bair, confirmed a plan to extend an exemption for asset securitization resulting from failed-bank seizures.

  • FDIC pulls the trigger: Should this have gone out for comment?  // Asset Securitization Report;6/3/2002, Vol. 2 Issue 22, p1 

    Reports the guidelines on the securitization structures by the Federal Deposit Insurance Corp. (FDIC) in the U.S. Failure of the FDIC to solicit the commentary of the insurance industry; Target on the fundamental protective features of the amortization; Details of the guidelines.

  • FDIC Might Clarify Asset Reclamation Rule. Barancik, Scott // American Banker;12/23/1998, Vol. 163 Issue 244, p3 

    States that the United States Federal Deposit Insurance Corp. has proposed a solution to an accounting issue involving asset-backed securitizations and loan participants.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics