On Friday, the Washington Department of Financial Institutions closed Shoreline Bank, headquartered in Shoreline, Washington, and appointed the FDIC as receiver. As receiver, the FDIC entered into a purchase and assumption agreement with GBC International Bank, headquartered in Los Angeles, California, to assume all of the deposits of the failed bank.
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, US Federal Government, Federal Deposit Insurance Corporation (USA)
On Friday, the Office of the Comptroller of the Currency closed First National Bank, headquartered in Rosedale, Mississippi, and appointed the FDIC as receiver.
USA, Mississippi, Banking, Insolvency & Restructuring, Alston & Bird LLP, Office of the Comptroller of the Currency (USA), Federal Deposit Insurance Corporation (USA)
Tuesday, the Financial Crisis Advisory Group (FCAG) issued its report on “the standard-setting implications of
USA, Banking, Capital Markets, Insolvency & Restructuring, Alston & Bird LLP, Accounting, Due process, FSAB, International Accounting Standards Board