Full text of Federal Reserve Bank of New York Circulars : Insolvency of Eatontown National Bank

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II '

F e d e r a l

R e s e r v e
N ew

B a n k

Y o r k , N.Y.

AREA

CO D E

212

o f

N e w

Y o r k

10045

7 3 2 -5 7 0 0

August 10, 1970

INSOLVENCY OF EATONTOWN NATIONAL BANK

To the Member Banks and Nonmember Clearing Banks
of the Second Federal Reserve District:

We have been notified by the Comptroller of the Currency that
the Eatontown National Bank, Eatontown, New Jersey, was declared
insolvent on Saturday, August 8 , 1970, and was placed in the hands of
the Federal Deposit Insurance Corporation as Receiver.
Under the provisions of Regulation J of the Board of Governors
of the Federal Reserve System (12 CFR 210), we will charge back items
included in our cash letters to the Eatontown National Bank for which we
have not received payment in actually and finally collected funds.

We will

also charge back and return items received by us which are not presented
to the Eatontown National Bank on account of its insolvency.




ALFRED HAYES,
P r e s id e n t.

_ J