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Re: BBANBOB post# 608633

Tuesday, 01/21/2020 5:18:17 PM

Tuesday, January 21, 2020 5:18:17 PM

Post# of 728344
ON FDIC site:
WAMU, which was the largest failure of an insured depository institution in the history of the FDIC, had $307 billion assets, $188 billion deposits, and over 2,300 branches in fifteen states when it failed. JPMC acquired substantially all of WAMU’s assets from the FDIC, paid about $1.9 billion, and assumed all of the deposits and “substantially all other liabilities” of WAMU. The resolution of WAMU through the P&A Agreement was completed at no cost to the Deposit Insurance Fund.
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https://www.lawinsider.com/dictionary/all-or-substantially-all
All or Substantially All means any conveyance, transfer, lease or sale of property or assets representing more than 75% of the Company’s total assets or revenues, determined on a consolidated basis as of the date of the last audit after giving pro forma effect to the conveyance, transfer, lease or sale.

It's not 100 percent assets for sure. So how much assets were not acquired?


"One must be just, before one is generous."

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