On Friday, the Illinois Department of Financial Professional Regulation – Division of Banking closed Bank of Illinois, headquartered in Normal, Illinois, and the FDIC was named receiver.
On Friday, American International Group, Inc. (AIG) released its results for the fourth quarter and full year 2009. AIG reported a Q4 net loss of $8.9 billion, bringing 2009’s total net losses to $10.9 billion.
On Friday, the Nevada Department of Business and Industry, Financial Institutions Division closed Carson River Community Bank, headquartered in Carson City, Nevada, and the FDIC was named receiver.
On Friday, the Washington Department of Financial Institutions closed Rainier Pacific Bank, headquartered in Tacoma, Washington, and the FDIC was named receiver.
The PPF policy statement can be found here
Following its November 2009 consultation, the PPF has published a statement confirming its policy on measuring insolvency risk for the 2011/12 levy. Schemes and employers should act quickly before the 30 and 31 March 2010 deadlines.
The policy statement confirms that for the 2011/12 levy year, the PPF will adopt new policies, including:
On Friday, the Office of the Comptroller of the Currency closed The La Coste National Bank , headquartered in La Coste, Texas, and the FDIC was named receiver.
On Friday, the Florida Office of Financial Regulation closed Marco Community Bank, headquartered in Marco Island, Florida, and the FDIC was named receiver. As receiver, the FDIC entered into a purchase and assumption agreement with Mutual of Omaha Bank., headquartered in Omaha, Nebraska, to assume all of the deposits of Marco Community Bank.
On Friday, the OTS closed La Jolla Bank, FSB, headquartered in La Jolla, California, and the FDIC was named receiver.
On Friday, the Illinois Department of Financial and Professional Regulation – Division of Banking closed George Washington Savings Bank, headquartered in Orland Park, Illinois, and the FDIC was named receiver.
Treasury's most recent Transactions Report reveals a loss of $2,334,120,000 from two institutions in bankruptcy.