The Federal Home Loan Bank Board said...
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The Federal Home Loan Bank Board said it had assisted in MNC Financial Corp.’s acquisition of the insolvent Virginia Federal Savings & Loan Assn. of Richmond, Va., which has $689 million in assets. The Federal Savings and Loan Insurance Corp., which insures deposits at member U.S. savings and loans, will provide $13.5 million in cash and will secure Baltimore-based MNC Financial against unreserved claims and challenges to the transaction, said the bank board, FSLIC’s parent body.
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