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NAFH National Bank acquires all the deposits of two institutions in Florida and one institution in South Carolina in second use of OCC “shelf charter”

Alston & Bird LLP
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USA
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July 19 2010

On Friday, the Florida Office of Financial regulation closed Metro Bank of Dade County, headquartered in Miami, Florida, and Turnberry Bank, headquartered in Aventura, Florida, and the OCC closed First National Bank of the South, headquartered in Spartanburg, South Carolina

Centerstate Bank of Florida, National Association assumes all of the deposits of Olde Cypress Community Bank

Alston & Bird LLP
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USA
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July 19 2010

On Friday, the Office of Thrift Supervision closed Olde Cypress Community Bank, headquartered in Clewiston, Florida, and appointed the FDIC as receiver for the bank

Commercial bank assumes all of the deposits of mainstreet savings bank, fsb

Alston & Bird LLP
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USA
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July 19 2010

On Friday, the Office of Thrift Supervision closed Mainstreet Savings Bank, FSB, headquartered in Hastings Michigan, and appointed the FDIC as receiver for the bank

Bank of the Ozarks assumes all of the deposits of Woodlands Bank

Alston & Bird LLP
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USA
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July 19 2010

On Friday, the Office of Thrift Supervision closed Woodlands Bank, headquartered in Bluffton, South Carolina, and appointed the FDIC as receiver for the bank

Basel Committee on Banking Supervision discusses progress on regulatory reform package and issues new proposal

Alston & Bird LLP
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Global
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July 16 2010

In meetings held Wednesday and yesterday, the Basel Committee on Banking Supervision reviewed various items in order to develop recommendations for its package of regulatory reforms, including the structure of the capital and liquidity frameworks, comments on its December 2009 consultation package, results of its comprehensive quantitative impact study (QIS) and its economic impact assessment analyses

Senator Lincoln proposes alternate bank spinoff provision

Alston & Bird LLP
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USA
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June 15 2010

Senator Blanche Lincoln (D-NE), Chairwoman of the Senate Agriculture Committee, who advocated for a provision in the financial regulatory reform bill that would effectively force banks to spin off their derivatives trading businesses, has released a minimal term sheet modifying this provision

Federal Reserve schedules small-value auctions under Term Deposit Facility

Alston & Bird LLP
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USA
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May 28 2010

The Federal Reserve announced today that, through its Term Deposit Facility, it had scheduled three small-value auctions of term deposits over the next two months, the structure of which the Federal Reserve authorized two weeks ago

European Commission proposes reinforcing European Union economic policy coordination

Alston & Bird LLP
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European Union
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May 12 2010

Today, the European Commission issued a Communication, largely as a result of the Greek debt crisis, setting forth proposed measures to strengthen Europe's economic governance

Fed Chairman Bernanke and former Fed Chairman Volcker send letters to Senator Dodd opposing amendment permitting GAO to audit the Fed

Alston & Bird LLP
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USA
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May 7 2010

Yesterday, current Federal Reserve Chairman Ben Bernanke and former Federal Reserve Chairman Paul Volcker sent separate letters to Senator Christopher Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, expressing their opposition to proposed amendments to the Senate financial regulatory reform bill that would permit the Government Accountability Office (GAO) to audit the Federal Reserve

FRBNY releases additional information on assets acquired by Maiden Lane entities

Alston & Bird LLP
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USA
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April 1 2010

Yesterday, the Federal Reserve Bank of New York (FRBNY) publicly released additional information related to the three Maiden Lane entities, which were formed to acquire certain assets of Bear Stearns and to facilitate the restructuring of the government's financial support of AIG

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