Yesterday, the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico closed Eurobank, headquartered in San Juan, Puerto Rico, and the FDIC was appointed receiver.
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 Oregon Division of Finance and Corporate Securities closed Columbia River Bank, headquartered in Dalles, Oregon, and the FDIC was named receiver.
Today, the U.K. Treasury and Northern Rock plc separatelyannounced that the restructuring of Northern Rock will take place on January 1, 2010 (Transfer Date).
Today, HM Treasury announced the conclusion of discussions with Lloyds Banking Group (Lloyds) and Royal Bank of Scotland Plc (RBS), regarding their participation in the U.K.
After holding a hearing on the topic this past July, the Congressional Oversight Panel (COP) released a report earlier this week entitled, “The Use of TARP Funds in Support and Reorganization of the Domestic Automotive Industry,” examining how TARP funds have been used to support and reorganize both
Yesterday, the U.K. government published a report entitled "Developing effective resolution arrangements for investment banks" which sets forth, primarily in response to the September 2008 collapse of Lehman Brothers Holding, Inc. (in particular its U.K. arm, Lehman Brothers International (Europe)), the U.K.
Today, the Utah Department of Financial Institutions closed MagnetBank, Salt Lake City, Utah , and the FDIC was named as receiver. The FDIC was unable to find another financial institution to assume the banking operations of MagnetBank.