FDIC Shuts Down Receivership for Defunct Chicago Bank
Published Date: 6/5/2025
Notice
Summary
The FDIC has officially closed the receivership for New City Bank in Chicago as of June 1, 2025. This means all the bank’s affairs are wrapped up, all money owed has been paid out, and the receivership no longer exists. If you were involved, no more actions or claims will be processed, so it’s a clean finish!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
All required dividend distributions made
The FDIC, as Receiver for New City Bank, states it has fulfilled its obligations and made all dividend distributions required by law prior to terminating the receivership on 06/01/2025. If you were owed a distribution from this receivership, the FDIC reports those distributions were completed.
New City Bank receivership terminated
The FDIC terminated the receivership for New City Bank in Chicago, IL effective 06/01/2025. The Receiver has been discharged and the receivership has ceased to exist as a legal entity.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-08298, Regulatory Capital Rule: Community Bank Leverage Ratio Framework
Starting July 1, 2026, community banks get a break! The minimum leverage ratio drops from 9% to 8%, making it easier for smaller banks to meet rules. Plus, banks can now stay in this easier framework longer—up to four straight quarters instead of two—helping them manage their money better without rushing.
2026-05960, Regulatory Capital Rules: Regulatory Capital and Standardized Approach for Risk-Weighted Assets
Big banks and community banks are getting new rules to better measure the risks in their loans and investments. The changes update how banks count certain assets and income when figuring out their safety net money, called regulatory capital. These updates aim to make banks safer and smarter with their money, with some rules kicking in soon and affecting how much capital banks need to hold.
2025-21625, Regulatory Capital Rule: Revisions to the Community Bank Leverage Ratio Framework
The government wants to make it easier for small banks to stay in a special low-risk capital program by lowering the required leverage ratio from 9% to 8%. They’re also giving banks more time—up to four quarters instead of two—to fix any issues without losing their spot. Banks and bank holding companies should weigh in by January 30, 2026, as these changes could save them money and reduce red tape.
2025-21626, Regulatory Capital Rule: Modifications to the Enhanced Supplementary Leverage Ratio Standards for U.S. Global Systemically Important Bank Holding Companies and Their Subsidiary Depository Institutions; Total Loss-Absorbing Capacity and Long-Term Debt Requirements for U.S. Global Systemically Important Bank Holding Companies
Big U.S. banks that are super important to the economy are getting new rules to keep them safer and stronger. These changes tweak how much money they must keep on hand and how they handle long-term debt, helping prevent financial trouble. The new rules kick in soon and could affect how these banks manage billions in assets and debt.
2026-17505, Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation Has Been Appointed Either Receiver, Liquidator, or Manager
Notice is hereby given that the Federal Deposit Insurance Corporation (Corporation) has been appointed the sole receiver for the following financial institution effective as of the Date Closed as indicated in the listing.
2026-17307, Interagency Rescission of the Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B
FDIC, NCUA, OCC, CFPB, HUD, DOJ, and FHFA (collectively, the agencies) are issuing this notice to inform the public of the rescission of the "Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B" (Interagency Statement), dated February 22, 2022. The agencies are rescinding the Interagency Statement to make clear that (1) creditors may not discriminate against borrowers based on prohibited characteristics and (2) creditors should not rely upon the Interagency Statement or other related issuances going forward.
Previous / Next Documents
Previous: 2025-10243, Federal Need Analysis Methodology for the 2026-27 Award Year-Federal Pell Grant, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, William D. Ford Federal Direct Loan, and TEACH Grant Programs
The government is updating the rules that decide how much financial aid students can get for the 2026-27 school year. These changes affect programs like Pell Grants, Work-Study, and student loans, making sure the money goes to the right students based on their financial need. Schools and students should get ready for these updates to understand their aid options better.
Next: 2025-10246, Center for Scientific Review; Notice of Closed Meetings
The Center for Scientific Review is holding several closed virtual meetings in July 2025 to review and evaluate grant applications. These meetings protect private info and trade secrets while deciding which science projects get funding. If you’re a researcher or small business applying for grants, these reviews shape who gets money and when.