Full text of Federal Reserve Bank of New York Circulars : 10381. Closing of Caguas Central Federal Savings Bank, Conservatorship of Ensign Federal Savings Bank

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FEDERAL RESERVE BANK
OF NEW YORK
I- Circular No. 10381 ~|
September 4, 1990 J

Closing of Caguas Central Federal Savings Bank
Conservatorship of Ensign Federal Savings Bank

To All Depository Institutions, and Others Concerned,
in the Second Federal Reserve District:

Caguas Central Federal Savings Bank
We have been advised that on August 31, 1990, the D irector of the Office of
T hrift Supervision, Departm ent of the Treasury, declared Caguas Central Federal
Savings Bank, Caguas, Puerto Rico (routing num ber 2215-7267-6) (“C aguas”), in­
solvent and ordered it closed. The Resolution Trust Corporation (the “RTC”) was
appointed receiver and entered into an agreem ent with Banco Santander Puerto
Rico, San Juan, Puerto Rico (“Banco Santander”), under which Banco Santander
acquired certain assets and accepted the transfer of certain liabilities of Caguas.
Banco Santander has agreed to accept presentm ent of cash items payable by,
through, or at Caguas and to accept the return of cash items originally deposited
at Caguas.

Ensign Federal Savings Bank
We have also been advised that effective August 31, 1990, the D irector of the
Office of T hrift Supervision, Departm ent of the Treasury, determ ined that a ground
for the appointm ent of a receiver existed for Ensign Bank, FSB , New York, New
York (routing num ber 2260-7257-9) (“Old Ensign”). The RTC was appointed re­
ceiver for the purpose of liquidation. Ensign Federal Savings Bank, New York, New
York (“New Ensign”), a newly-chartered Federal savings association, has been or­
ganized to take over the assets and liabilities of Old Ensign. The RTC has been ap­
pointed the conservator of New Ensign.
E.

G

e r a l d

C

o r r ig a n

,

President.