 The Federal Deposit Insurance Corporation (FDIC), which insures deposits up to a certain amount, received the assets of the bank to cover the expenses associated with repaying the closed banks' depositors.When the FDIC and eventually the Resolution Trust Corporation took control of the assets, they had to find institutions, organizations and private investors that would be willing to purchase the assets of closed banks including both performing and non-performing (delinquent or charged-off) accounts.The RTC held auctions around the country allowing various organizations to bid for portfolios of mixed assets.