FDIC Payout Schedule

[blue_IHB]

I was just curious about this. If a FDIC insured account does go kaput, how long will it take for the FDIC to come in and payout the account holders from the moment the financial institution died?

 

[no_vaseline_IHB]

Usually what happens is the FDIC knows the bank is going to go busto, and makes arrangements to sell the deposits to another bank before they actually lock the doors.



In my experence, the gap ends the next business day.

 

[freedomCM_IHB]

what will happen with brea's fremont, where they say that they are going ch11, since they don't have the time/money/personnel to prepare the sale docs?