Friday, the Office of the Comptroller of the Currency closed Amcore Bank, National Association, headquartered in Rockford, Illinois, and the FDIC was appointed receiver.
On Friday, the OCC closed Marshall Bank , National Association, headquartered in Hallock, Minnesota, and the FDIC was named receiver.
This past Monday, in the wake of last month's termination of TCW Group, Inc.
On Monday, the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released a report entitled “Factors Affecting Efforts to Limit Payments to AIG Counterparties.” The report examines certain transactions related to the rescue of AIG, including the creation of Maiden Lane III, a limited liability company formed last year to facilitate the purchase of assets from counterparties of AIG Financia
Earlier today, DSB Bank N.V. (DSB) was declared bankrupt and ordered to liquidate, ending hopes the regional lender, which last week suffered a run on deposits and was subsequently put into receivership, might be sold or bailed out.
This afternoon, U.S. Supreme Court Justice Ruth Bader Ginsburg issued an order extending the temporary stay placed by a federal appeals court in New York last week on the sale of Chrysler LLC’s assets to a new company, to be partially owned by Italian automaker Fiat S.p.A., to allow opponents to the sale sufficient time to seek Supreme Court review.
On April 10, 2009, the North Carolina Office of Commissioner of Banks closed Cape Fear Bank, headquartered in Wilmington, North Carolina, and the FDIC was named as receiver.
This week, the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services held a second round of hearings, as a follow-up to the hearings held