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FEDERAL RESERVE BANK OF NEW YORK [ Circular No. 10513 January 28, 1992 "I Closing of Crossland Savings, F.S.B., Banco Nacional, N .A ., and American National Bank of New York To All Depository Institutions, and Others Concerned, in the Second Federal Reserve District: We have been advised that on January 24, 1992, the Office of T hrift Supervision (“O TS”) placed Crossland Savings, F.S.B., Brooklyn, New York (“Old C rossland”) in receivership. The Federal Deposit Insurance Corporation (“FDIC”) was nam ed receiver and transferred certain assets and liabilities of Old Crossland to Crossland Federal Savings Bank, Brooklyn, New York (“New Crossland”), a newly chartered Federal m utual institution, which will operate under the control of the FDIC. New Crossland has agreed to accept the payment transactions of Old C rossland, including funds transfers, checks, and automated clearing house items and will continue to use the routing num ber of Old C rossland (2260-7012-8). We have also been advised that on January 24, 1992, the Com ptroller of the C urrency declared Banco Nacional, N.A., Hato Rey, Puerto Rico (routing num ber 0215-0293-0) (“Banco Nacional”) insolvent and ordered it closed. The Federal Deposit Insurance Corporation was appointed receiver and transferred certain assets and liabilities of Banco Nacional to Eurobank & Trust Company, Hato Rey, Puerto Rico (“Eurobank”). Eurobank has agreed to accept certain paym ent transactions, includ ing checks and automated clearing house items payable by, through, or at Banco Nacional and to accept the return of items originally deposited at Banco Nacional. We have also been advised that on January 24, 1992 the Com ptroller of the C urrency declared American National Bank of New York, Fleischm anns, New York (routing no. 0219-1208-3) (“A m erican”) insolvent and appointed the Federal Deposit Insurance Corporation as receiver. We understand that the FDIC will begin to pay out the insured deposits of Am erican. We will return cash items included in our cash letters to Am erican and charge for such items in accordance with the provisions of Regulation J of the Board of Governors of the Federal Reserve System (12 C.F.R. Part 210). E. G e r a l d C o r r i g a n , President. ©
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