Daily Management Review

Fourth US bank goes bankrupt in 2019


The US authorities stopped the City National Bank of New Jersey, which became the fourth bank to be closed in the country since the beginning of this year, according to a press release from the American Deposit Insurance Corporation (FDIC).

Ivan Radic via flickr
Ivan Radic via flickr
Deposits of this bank will be transferred to Washington Industrial Bank by agreement with FDIC. The owners of deposits of a closed financial institution automatically become Industrial Bank depositors, and the corporation will continue to insure funds in their accounts.

As of September 30, 2019, City National Bank had assets worth about $ 120.6 million, the volume of deposits amounted to about $ 111.2 million.

According to the corporation, the expenses of the Deposit Insurance Fund in connection with the liquidation of the bank will amount to $ 2.5 million.

FDIC insures deposits up to $ 250 thousand. The insurance system at the end of the first half of the year involved 5303 banks and savings institutions of the country.

Last year in the United States there was not a single case of bankruptcy of financial institutions. Since 1933, this has happened for the third time. The peak number of 157 liquidated financial institutions was noted in 2010.

source: bloomberg.com

Science & Technology

Apple to come up with AR glasses

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

Mars Had Earth-like Salt Lakes

Study: AI is not as profitable as you might think

Porsche, Boeing set to develop flying electric car

Samsung to invest $ 11 billion in new generation displays

US is betting on Nokia and Ericsson to replace Huawei

UPS becomes first to receive full regulatory approval for UAV shipping in USA

World Politics

World & Politics

Vale hiding information about problems at Brazilian dams could result in death of 270 people

US Lawmakers Introduce Bill About Xinjiang Uygur Camps In China

European Council agrees to extend Brexit again

Pressure From China Forces Maserati To Dissociate From Film Awards Event In Taiwan

China to replace Hong Kong's Carrie Lam

Iran warns of new reduction in nuclear deal liabilities

Dominican Republic lost $ 200 million because of scandal with tourists death

France: We will take measures to protect our military in Syria