FDIC Winds Down Chicago Bank's Long Receivership Chapter
Published Date: 3/4/2025
Notice
Summary
The FDIC is wrapping up its work with The National Republic Bank of Chicago and plans to officially end the receivership at least 30 days from now. This means all assets are settled, and final payments will go to creditors. If anyone wants to share their thoughts, they have 30 days to write in before the receivership closes for good.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Final Dividend to Proven Creditors
The FDIC reports that liquidation of The National Republic Bank of Chicago (Receivership Fund 10507) is complete and the Receiver will make a final dividend payment to proven creditors to the extent permitted by available funds and in accordance with law.
30-Day Termination Notice and Comment Window
The FDIC will terminate the receivership no sooner than March 29, 2025 (30 days after the notice dated February 27, 2025). Anyone wishing to comment on the termination must send a written comment within 30 days to the FDIC Division of Resolutions and Receiverships at 600 North Pearl, Suite 700, Dallas, TX 75201; comments sent after 30 days will not be considered.
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