Full text of Federal Reserve Bank of New York Circulars : 10412. Receivership of Central Federal Savings, FSB

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FEDERAL RESERVE BANK
OF NEW YORK

[

Circular No. 10412 "1
December 10, 1990

J

Receivership of Central Federal Savings, FSB
To All Depository Institutions, and Others Concerned,
in the Second Federal Reserve District:

We have been advised that effective December 7, 1990, the Director of the
Office of Thrift Supervision, Department of the Treasury, determined that a ground
for the appointment of a receiver existed for Central Federal Savings, FSB, Long
Beach, New York (“Old Central Federal”). The Resolution Trust Corporation (the
“RTC”) was appointed receiver for the purpose of liquidation. The Central Federal
Savings Bank, Long Beach, New York (“New Central Federal”), a newly chartered
Federal savings association, has been organized to take over the assets and liabilities
of Old Central Federal. The RTC has been appointed the conservator of New Central
Federal.
New Central Federal has agreed to accept presentment of cash items payable
by, through, or at Old Central Federal and to accept the return of cash items orig­
inally deposited at Old Central Federal. New Central Federal will use the routing
number previously used by Old Central Federal (2214-7192-6).
E. G erald C orrigan ,
President.