Us regulators seize three Puerto Rico banks
US regulators seized three Puerto Rican banks on Friday and sold their deposits to other banks, costing the Federal Deposit Insurance Corp insurance fund $5.3 billion -- one of the largest hits in the banking crisis.
US regulators yesterday seized eight banks with assets totalling more than US$6 billion, raising the tally this year to 51 failed banks and adding to the carnage of small institutions that is expected to peak this year.