Federal Deposit Insurance Corporation v. Citizens Bank & Trust Company of Park Ridge, Illinois

TONE, Circuit Judge.

Federal Deposit Insurance Corporation, after becoming the receiver of an-insolvent state bank, entered into a so-called purchase and assumption transaction under 12 U.S.C. § 1823(e) whereby it, as receiver, assigned to itself in its corporate capacity the insolvent bank’s claim against Citizens Bank & Trust Company. In FDIC’s suit on the claim, Citizens asserted a set-off and counterclaim based on alleged liability of the insolvent bank to Citizens arising out of an unrelated transaction. The issue we find to be controlling is whether the Federal Tort Claims Act, 28 U.S.C.…