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FEDERAL RESERVE BANK OF NEW YORK Circular No. 8 3 1 2 April 3, 1978 [ To All Member Banks, and Others Concerned, in the Second Federal Reserve District: We have been notified that on March 31, 1978, the Secretary of the Treasury for the Commonwealth of Puerto Rico took over the m anagem ent and administration of Banco Credito y Ahorro Ponceno, Ponce, Puerto Rico, and that the Federal Deposit Insurance Corporation has been appointed receiver. We are advised that the Federal Deposit Insurance Corporation as receiver has entered into an agreem ent with Banco Popular de Puerto Rico and Banco Santander—Puerto Rico, pursuant to which those banks will purchase certain assets and assume certain liabilities, including all of the deposit liabilities, of Banco Credito y Ahorro Ponceno. We are also advised that those banks are prepared to receive cash items payable by, at, or through the head office and Puerto Rico branch offices of Banco Credito y Ahorro Ponceno (whose routing number is 0215-0208-2). We will continue to accept checks drawn on the former head office and Puerto Rico branch offices of the former Banco Credito y Ahorro Ponceno. We are also advised that the Federal Deposit Insurance Corporation as receiver has entered into an agreem ent with Banco Santander—Puerto Rico, pursuant to which Banco Santander—Puerto Rico will purchase certain assets and assume certain liabilities, including all of the deposit liabilities, of the New York City Branch of Banco Credito y Ahorro Ponceno (the “New York City Branch”)- We are also advised that Banco Santander—Puerto Rico is prepared to receive cash items and noncash items payable by, at, or through the New York City Branch (whose routing number is 0260-0295-6). We will continue to accept checks drawn on the New York City Branch. P a u l A. V o l c k e r . President.
@FedFRASER