List of acquired or bankrupt banks in the late 2000s financial crisis
Encyclopedia
This is a list of financial institutions that have been affected by the Financial crisis of 2007–2010. The list includes bank
s (including commercial banks and investment banks), building societies
and insurance companies
that have either been:
In the United States
, the Federal Deposit Insurance Corporation
(FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the presumed Merrill Lynch
acquisition by Bank of America
, the Bear Stearns
acquisition by JPMorgan Chase, and the Countrywide Financial
acquisition also by Bank of America. IndyMac Bank
was also a large bank that was changed into a bridge bank
by the FDIC, after its failure, until the funds can be disposed of. In addition, the investment bank Lehman Brothers
has filed for Chapter 11 bankruptcy protection
.
In the United Kingdom
, Her Majesty's Treasury has the power to acquire failing banks under the Banking (Special Provisions) Act 2008
. Using powers granted by this Act, Her Majesty's Treasury acquired the shareholdings of both Northern Rock
and the Bradford & Bingley
; and transferred the savings accounts of failed Icelandic banks to ING Direct. Anti-terrorism legislation has been used to seize assets of the Icelandic banks, the Government of Iceland and the Icelandic central bank in the UK.
announced a scheme to acquire stakes in 3 of the largest UK banks. The schemes for HBOS and Lloyds TSB were conditional on the merger between the 2 banking groups going ahead.
. Building Societies (or parts thereof) placed into administration under the Building Society Special Administration Procedure.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s (including commercial banks and investment banks), building societies
Building society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
and insurance companies
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
that have either been:
- taken over or merged with another financial institution;
- nationalised by a government or central bank; or
- declared insolvent or liquidated.
In the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, the Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
(FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the presumed Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
acquisition by Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
, the Bear Stearns
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
acquisition by JPMorgan Chase, and the Countrywide Financial
Countrywide Financial
Bank of America Home Loans is the mortgage unit of Bank of America. Bank of America Home Loans is composed of:*Mortgage Banking, which originates purchases, securitizes, and services mortgages. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion...
acquisition also by Bank of America. IndyMac Bank
IndyMac Bank
OneWest Bank is a federal savings bank with 82 retail branches in southern California and approximately $14 billion in deposits as of February 2010....
was also a large bank that was changed into a bridge bank
Bridge bank
In the United States law of banking regulation, a bridge bank is a temporary bank organized by federal bank regulators to administer the deposits and liabilities of a failed bank...
by the FDIC, after its failure, until the funds can be disposed of. In addition, the investment bank Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
has filed for Chapter 11 bankruptcy protection
Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
.
In the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, Her Majesty's Treasury has the power to acquire failing banks under the Banking (Special Provisions) Act 2008
Banking (Special Provisions) Act 2008
The Banking Act 2008 is an Act of the Parliament of the United Kingdom that entered into force on the 21 February 2008 in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation...
. Using powers granted by this Act, Her Majesty's Treasury acquired the shareholdings of both Northern Rock
Northern Rock
Northern Rock plc is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for...
and the Bradford & Bingley
Bradford & Bingley
Bradford & Bingley plc is a British bank with headquarters in the West Yorkshire town of Bingley. In 2008, partly due to the credit crunch, the bank was nationalised and in effect split into two parts; the mortgage book remained with the now publicly owned Bradford & Bingley plc, and the deposits...
; and transferred the savings accounts of failed Icelandic banks to ING Direct. Anti-terrorism legislation has been used to seize assets of the Icelandic banks, the Government of Iceland and the Icelandic central bank in the UK.
Acquisitions
| Date acquisition is announced | Acquired company | Acquirer | Type of company acquired | Value (USD United States dollar The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies.... , EUR Euro The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,... and GBP Pound sterling The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence... ) |
References |
|---|---|---|---|---|---|
 Northern RockNorthern Rock Northern Rock plc is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for... |
Government of the United Kingdom |
retail and mortgage bank | |||
 Bear StearnsBear Stearns The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession... , New York City New York City New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and... |
JPMorgan Chase, New York City |
Investment bank | $2,200,000,000 | ||
| Catholic Building Society Catholic Building Society The Catholic Building Society was a UK building society based in Westminster, London. It was the 57th largest in the United Kingdom based on total assets of £44 million at 31 December 2007.... |
Chelsea Building Society Chelsea Building Society Chelsea Building Society was the fourth largest Building Society in the United Kingdom with total assets in excess of £13 billion at 31 December 2007 . It is a member of the Building Societies Association. Operating mainly in South East England with its network of 35 branches, its head office is... |
Building Society Building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"... |
£51,000,000 | ||
| Countrywide Financial Countrywide Financial Bank of America Home Loans is the mortgage unit of Bank of America. Bank of America Home Loans is composed of:*Mortgage Banking, which originates purchases, securitizes, and services mortgages. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion... , Calabasas, California Calabasas, California Calabasas is an affluent city in Los Angeles County, California in the western United States. It is located in the hills in the southwestern San Fernando Valley and the Santa Monica Mountains between Woodland Hills, Agoura Hills, West Hills, and Malibu, California. As of the 2010 census, the city... |
Bank of America Bank of America Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina... , Charlotte, North Carolina Charlotte, North Carolina Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009... |
Subprime mortgage lender | $4,000,000,000 | ||
| Alliance & Leicester Alliance & Leicester Alliance & Leicester was a former UK-based bank and PLC, which in later years operated as a trading name of Santander UK before being rebranded as Santander. Alliance & Leicester was legally acquired in May 2010 by Santander UK, and was fully incorporated by 2011... |
 Grupo SantanderGrupo Santander The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world... |
retail and mortgage bank | £1,260,000,000 | ||
 Roskilde BankRoskilde Bank Roskilde Bank was a local Danish bank. It was based in Roskilde with branches over much of Region Hovedstaden.Roskilde Bank was founded in 1884 and in 1996 merged with Ringsted Sparekasse. On the 24 August 2008 was acquired by National Bank after running into financial trouble. Due to the decline... |
Danmarks Nationalbank Danmarks Nationalbank Danmarks Nationalbank is the central bank of the Kingdom of Denmark. It is a non-eurozone member of the European System of Central Banks . The bank issues the Danish currency, the krone.... (Danish Central Bank) |
Retail bank | $896,800,000 (kr Danish krone The krone is the official currency of the Kingdom of Denmark consisting of Denmark, the Faroe Islands and Greenland. It is subdivided into 100 øre... 4,500,000,000) |
||
| Fannie Mae and Freddie Mac |
Federal Housing Finance Agency Federal Housing Finance Agency The Federal Housing Finance Agency is an independent federal agency created as the successor regulatory agency resulting from the statutory merger of the Federal Housing Finance Board , the Office of Federal Housing Enterprise Oversight , and the U.S... |
Subprime mortgage lender | |||
| Derbyshire Building Society Derbyshire Building Society Derbyshire Building Society is a former UK building society based in Duffield, Derbyshire in the East Midlands of England. With effect from 1 December 2008 it was acquired by Nationwide Building Society and now operates as a trading division of Nationwide... |
Nationwide Building Society Nationwide Building Society Nationwide Building Society is a British building society, and is the largest in the world. It has its headquarters in Swindon, England, and maintains significant administration centres in Bournemouth and Northampton... |
Building society Building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"... |
£7,100,000,000 | ||
| Cheshire Building Society Cheshire Building Society The Cheshire Building Society is a former building society based in Macclesfield, Cheshire, England. Prior to the merger with the Nationwide Building Society it was the 11th largest in the United Kingdom based on total assets of £5.0 billion at 31 December 2007. It is a member of the Building... |
Nationwide Building Society Nationwide Building Society Nationwide Building Society is a British building society, and is the largest in the world. It has its headquarters in Swindon, England, and maintains significant administration centres in Bournemouth and Northampton... |
Building society Building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"... |
£4,900,000,000 | ||
| Merrill Lynch Merrill Lynch Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York... , New York City |
Bank of America Bank of America Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina... , Charlotte, North Carolina |
Investment bank | $44,000,000,000 | ||
| - Presumed | American International Group American International Group American International Group, Inc. or AIG is an American multinational insurance corporation. Its corporate headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in... , New York City |
United States federal government |
Insurance Insurance In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the... company |
$182,000,000,000 | |
| - | Lehman Brothers Lehman Brothers Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker... , New York City |
Barclays plc Barclays plc Barclays PLC is a global banking and financial services company headquartered in London, United Kingdom. As of 2010 it was the world's 10th-largest banking and financial services group and 21st-largest company according to a composite measure by Forbes magazine... |
Investment bank | $1,300,000,000 | |
| HBOS HBOS HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009... |
Lloyds TSB Lloyds TSB Lloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810... |
Diversified financial services | $21,850,000,000 | ||
| Washington Mutual Washington Mutual Washington Mutual, Inc. , abbreviated to WaMu, was a savings bank holding company and the former owner of Washington Mutual Bank, which was the United States' largest savings and loan association until its collapse in 2008.... , Seattle, Washington Seattle, Washington Seattle is the county seat of King County, Washington. With 608,660 residents as of the 2010 Census, Seattle is the largest city in the Northwestern United States. The Seattle metropolitan area of about 3.4 million inhabitants is the 15th largest metropolitan area in the country... |
JPMorgan Chase, New York City |
Savings and loan association Savings and loan association A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans... |
$1,900,000,000 | ||
| Lehman Brothers Lehman Brothers Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker... |
 Nomura HoldingsNomura Securities Co. is a wholly owned subsidiary of Nomura Holdings, Inc. , which forms part of the Nomura Group. It plays a central role in the securities business, the Group's core business. Nomura is a financial services group and global investment bank. Based in Tokyo and with regional headquarters in Hong Kong,... |
Investment bank | $2 | ||
| Bradford & Bingley Bradford & Bingley Bradford & Bingley plc is a British bank with headquarters in the West Yorkshire town of Bingley. In 2008, partly due to the credit crunch, the bank was nationalised and in effect split into two parts; the mortgage book remained with the now publicly owned Bradford & Bingley plc, and the deposits... |
Government of the United Kingdom Government of the United Kingdom Her Majesty's Government is the central government of the United Kingdom of Great Britain and Northern Ireland. The Government is led by the Prime Minister, who selects all the remaining Ministers... (Mortgage Assets) Grupo SantanderGrupo Santander The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world... (Savings Liabilities) |
Diversified financial services | £12,000,000 | ||
   FortisFortis (finance) Fortis N.V./S.A. was a company active in insurance, banking and investment management. In 2007 it was the 20th largest business in the world by revenue but after encountering severe problems in the financial crisis of 2008, most of the company was sold in parts, with only insurance activities... |
Government of the Netherlands Cabinet of the Netherlands The cabinet of the Netherlands is the main executive body of the Dutch government. The current cabinet of the Netherlands is the Rutte cabinet.-Composition and role:... (Dutch assets including ABN AMRO ABN AMRO ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis... )  BNP ParibasBNP Paribas BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger... (Belgian and Luxembourg assets) |
Diversified financial services | € | ||
| Dexia Dexia Dexia N.V./S.A., also referred to as the Dexia Group, is a Belgian-French financial institution active in public finance, providing retail and commercial banking services to individuals and SMEs, asset management, and insurance... |
The Belgian, French and Luxembourg governments |
Public finance and retail | |||
| Wachovia Wachovia Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo in 2008, Wachovia was the fourth-largest bank holding company in the United States based on total assets... , Charlotte, North Carolina Charlotte, North Carolina Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009... |
Wells Fargo Wells Fargo Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home... , San Francisco, California San Francisco, California San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland... |
Retail and investment banking | $15,000,000,000 | ||
 LandsbankiLandsbanki Landsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations... |
Icelandic Financial Supervisory Authority |
Commercial Bank | |||
| Glitnir Glitnir (bank) Glitnir was an international Icelandic bank. It was created by the state-directed merger of the country's three privately held banks - Alþýðubanki , Verzlunarbanki and Iðnaðarbanki - and one failing publicly held bank - Útvegsbanki - to form Íslandsbanki in 1990... |
Icelandic Financial Supervisory Authority |
Commercial bank | |||
| Kaupthing Bank Kaupthing Bank Kaupthing Bank was an international Icelandic bank, headquartered in Reykjavík, Iceland. It was formed by the merger of Kaupthing and Búnaðarbanki Íslands in 2003 and was the largest bank in Iceland.... |
Icelandic Financial Supervisory Authority |
Commercial bank | |||
 BankWest (subsidiary of HBOSHBOS HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009... ) |
Commonwealth Bank of Australia Commonwealth Bank of Australia The Commonwealth Bank of Australia is a multinational bank with businesses across New Zealand, Fiji, Asia, USA and the United Kingdom. Commonwealth Bank provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance,... |
Bank | £1,200,000,000 | ||
| Sovereign Bank Sovereign Bank Sovereign Bank is a wholly owned subsidiary of the Spanish Grupo Santander. Based in Boston, Massachusetts, the bank—whose principal market is in the Northeastern United States—has more than $77 billion in assets, operates 723 retail banking offices, over 2,300 ATMs and employs approximately 8,500... , Wyomissing, Pennsylvania Wyomissing, Pennsylvania Wyomissing is a borough in Berks County, Pennsylvania, United States, established on July 2, 1906. The population was 8,587 at the 2000 census, but after the January, 2002 merger with neighboring Wyomissing Hills, the combined 2000 Census estimate was 11,155 making it the most populous borough in... |
Banco Santander SA |
Bank | $1,900,000,000 | ||
| Barnsley Building Society Barnsley Building Society Barnsley Building Society was established on 12 January 1853, by a group of prominent townsfolk who following the example of many other towns and cities at the time decided to form their own building society.- History :... |
Yorkshire Building Society Yorkshire Building Society The Yorkshire Building Society is the second largest building society in the UK, with its headquarters in Bradford, West Yorkshire, England. Assets now exceed £20 billion.... |
Building society Building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"... |
£376,000,000 | ||
| National City Bank, Cleveland, Ohio Cleveland, Ohio Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border... |
PNC Financial Services PNC Financial Services PNC Financial Services Group, Inc. is a U.S.-based financial services corporation, with assets of approximately $264.3 billion... , Pittsburgh, Pennsylvania Pittsburgh, Pennsylvania Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States... |
Bank Bank A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:... |
$5,580,000,000 | ||
| Commerce Bancorp Commerce Bancorp TD Bank, N.A., is a national banking institution in the United States which offers banking, insurance, brokerage, and investment banking services in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, South Carolina,... , Cherry Hill, New Jersey Cherry Hill, New Jersey Cherry Hill is a township in Camden County, New Jersey, in the United States. As of the 2010 United States Census, the township had a population of 71,045, representing an increase of 1,080 from the 69,965 residents enumerated during the 2000 Census... |
 Toronto-Dominion BankToronto-Dominion Bank The Toronto-Dominion Bank , is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the... , Toronto, Canada |
Bank Bank A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:... |
$8,500,000,000 | ||
| Scarborough Building Society Scarborough Building Society Scarborough Building Society was a UK building society, which had its headquarters in Scarborough, North Yorkshire, England. Scarborough Building Society was formed in May 1846 - It was a member of the Building Societies Association.... |
Skipton Building Society Skipton Building Society The Skipton Building Society is a building society in the United Kingdom . It is a member of the Building Societies Association.... |
Building Society Building society A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"... |
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| IndyMac Federal Bank |
IMB Management Holdings |
Savings and loan association Savings and loan association A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans... |
$13,900,000,000 | ||
 Anglo Irish BankAnglo Irish Bank Anglo Irish Bank was a bank based in Ireland with its headquarters in Dublin from 1964 to 2011. It went into wind-down mode after nationalisation in 2009.... |
Government of the Republic of Ireland |
Bank Bank A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:... |
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 BTA Bank |
Government of Kazakhstan Government of Kazakhstan The Government of the Republic of Kazakhstan oversees a presidential republic. The President of Kazakhstan, currently Nursultan Nazarbayev, is head of state and nominates the head of government. Executive power is exercised by the government... |
Bank Bank A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:... |
$2,100,000,000 | ||
| Alliance Bank |
Government of Kazakhstan Government of Kazakhstan The Government of the Republic of Kazakhstan oversees a presidential republic. The President of Kazakhstan, currently Nursultan Nazarbayev, is head of state and nominates the head of government. Executive power is exercised by the government... |
Bank Bank A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:... |
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 Bank of AntiguaBank of Antigua Bank of Antigua was formed on the 10 February 1981 in St. John's, Antigua. It was owned by the Stanford Financial Group which has been sued by the U.S. Securities and Exchange Commission, along with Robert Allen Stanford, the Stanford Financial Group's owner, for allegedly running a Ponzi scheme... |
 Eastern Caribbean Central BankEastern Caribbean Central Bank The Eastern Caribbean Central Bank is the monetary authority of a group of six independent Caribbean nations namely:* Antigua and Barbuda,* Grenada,* Saint Kitts and Nevis,* Commonwealth of Dominica,* Saint Lucia,* Saint Vincent and the Grenadines,... |
Bank Bank A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:... |
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| Straumur Investment Bank Straumur Investment Bank Straumur-Burdaras Investment Bank hf. was a regional investment bank headquartered in Reykjavik, Iceland, that was closed by regulators in March 2009.The company was mainly owned by Björgólfur Guðmundsson and his son Björgólfur Thor Björgólfsson... |
Icelandic Financial Supervisory Authority |
Investment Bank | |||
| Dunfermline Building Society Dunfermline Building Society The Dunfermline Building Society is a building society based in Dunfermline, Fife, Scotland. It was the largest building society in Scotland and the 12th largest in the United Kingdom based on total assets of £3.3 billion at 31 December 2007... |
Bank of England Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world... (social housing loans) Nationwide Building SocietyNationwide Building Society Nationwide Building Society is a British building society, and is the largest in the world. It has its headquarters in Swindon, England, and maintains significant administration centres in Bournemouth and Northampton... (savings, residential mortgages, branch network) |
Building Society | |||
| Caja de Ahorros Castilla La Mancha |
Banco de España Banco de España The Bank of Spain , is the national central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks.-History:... |
Savings and loan association Savings and loan association A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans... |
€9,000,000,000 | ||
 Philippine American Life and General Insurance CompanyPhilippine American Life and General Insurance Company Philippine American Life and General Insurance Company known as Philamlife is an insurance company based in the Philippines.It was a member of American International Group, but separated from the group in 2008 after it was finalized that Philamlife, American International Assurance and ALICO were... |
 American International AssuranceAmerican International Assurance American International Assurance known as AIA is an insurance company based in Hong Kong. It has offices in Asia-Pacific region including Taiwan, China, Australia, New Zealand, Japan, India, Malaysia, Macau, South Korea, Thailand, Philippines, Singapore, Brunei and Vietnam... |
Insurance Insurance In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the... company |
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| Chesham Building Society Chesham Building Society The Chesham Building Society was a building society based in the market town of Chesham in Buckinghamshire, England which merged with the Skipton Building Society on 1 June 2010. Prior to the merger it was the 37th largest building society in the United Kingdom based on its total assets of £231... (100% Bought) |
Skipton Building Society Skipton Building Society The Skipton Building Society is a building society in the United Kingdom . It is a member of the Building Societies Association.... |
Building Society | £230,000,000 | ||
| CajaSur CajaSur CajaSur was a Spanish savings bank, run by the priests in the Catholic Church, located in Córdoba, Spain. It was seized in May 2010 and defaulted in December 2010.... |
Banco de España Banco de España The Bank of Spain , is the national central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks.-History:... |
Savings and loan association Savings and loan association A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans... |
€550,000,000 | ||
British banking rescue scheme
Her Majesty's GovernmentGovernment of the United Kingdom
Her Majesty's Government is the central government of the United Kingdom of Great Britain and Northern Ireland. The Government is led by the Prime Minister, who selects all the remaining Ministers...
announced a scheme to acquire stakes in 3 of the largest UK banks. The schemes for HBOS and Lloyds TSB were conditional on the merger between the 2 banking groups going ahead.
| Date acquisition is announced | Acquired company | Acquirer | Type of company acquired | Value (USD United States dollar The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies.... , EUR Euro The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,... and GBP Pound sterling The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence... ) |
References |
|---|---|---|---|---|---|
| Royal Bank of Scotland Group (up to 63% Bought) |
Government of the United Kingdom Government of the United Kingdom Her Majesty's Government is the central government of the United Kingdom of Great Britain and Northern Ireland. The Government is led by the Prime Minister, who selects all the remaining Ministers... |
Bank | £20,000,000,000 | ||
| HBOS HBOS HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009... (up to 43.5% Bought) |
Government of the United Kingdom Government of the United Kingdom Her Majesty's Government is the central government of the United Kingdom of Great Britain and Northern Ireland. The Government is led by the Prime Minister, who selects all the remaining Ministers... |
Bank | £13,000,000,000 | ||
| Lloyds TSB Lloyds TSB Lloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810... (up to 43.5% Bought) |
Government of the United Kingdom Government of the United Kingdom Her Majesty's Government is the central government of the United Kingdom of Great Britain and Northern Ireland. The Government is led by the Prime Minister, who selects all the remaining Ministers... |
Bank | £4,000,000,000 | ||
United States
See List of acquired or bankrupt United States banks in the late 2000s financial crisisUnited Kingdom
Banks that have been put into administration; or the assets have been transferred to another bank under the provisions of the Banking (Special Provisions) Act 2008Banking (Special Provisions) Act 2008
The Banking Act 2008 is an Act of the Parliament of the United Kingdom that entered into force on the 21 February 2008 in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation...
. Building Societies (or parts thereof) placed into administration under the Building Society Special Administration Procedure.
| Date | Company | Deposits and/or branches taken by | Type of company bankrupt or closed | References |
|---|---|---|---|---|
| Icesave (subsidiary of Landsbanki Landsbanki Landsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations... (Iceland Iceland Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population... )) |
Her Majesty's Treasury | Online savings bank | ||
| Kaupthing Singer & Friedlander Kaupthing Singer & Friedlander Kaupthing Singer & Friedlander is a financial services provider offering corporate and investment banking services to small and medium-sized companies, as well as wealth management services for high net worth clients. Primary areas of activity are treasury, investment management, capital markets... (subsidiary of Kaupthing Bank Kaupthing Bank Kaupthing Bank was an international Icelandic bank, headquartered in Reykjavík, Iceland. It was formed by the merger of Kaupthing and Búnaðarbanki Íslands in 2003 and was the largest bank in Iceland.... (Iceland Iceland Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population... )) |
placed in administration | Corporate investments and private banking | ||
| Heritable Bank (subsidiary of Landsbanki Landsbanki Landsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations... (Iceland Iceland Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population... )) |
ING Direct | Private banking | ||
| Kaupthing Edge (division of Kaupthing Singer & Friedlander) | ING Direct | Online savings bank | ||
| London Scottish Bank London Scottish Bank London Scottish Bank PLC was a British bank based in Manchester, specialising in subprime lending.- About :London Scottish Bank was a specialist financial services company that had been established for over a century... |
placed in administration | Bank | ||
| Dunfermline Building Society Dunfermline Building Society The Dunfermline Building Society is a building society based in Dunfermline, Fife, Scotland. It was the largest building society in Scotland and the 12th largest in the United Kingdom based on total assets of £3.3 billion at 31 December 2007... |
non core business (social housing) transferred to the Bank of England, core business transferred to the Nationwide | Building Society | ||
Latvia
| Date | Company | Deposits and/or branches taken by | Type of company bankrupt or closed | References |
|---|---|---|---|---|
| Parex Bank Parex Bank Parex Banka is a Latvian bank with branches in Berlin, Stockholm and Tallinn, and representative offices in Tokyo, Moscow, Kiev, Baku and other cities. The bank employs 2,600 staff in 14 countries.... (Latvia Latvia Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden... ) |
Hipotēku banka (owned by Latvian government Latvia Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden... ) |
Bank | ||
| Golas Bank (Minsk Minsk - Ecological situation :The ecological situation is monitored by Republican Center of Radioactive and Environmental Control .During 2003–2008 the overall weight of contaminants increased from 186,000 to 247,400 tons. The change of gas as industrial fuel to mazut for financial reasons has worsened... ) |
Hipotēku banka (owned by Latvian government Latvia Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden... ) |
Investment Bank (subsidiary of Parex Bank Parex Bank Parex Banka is a Latvian bank with branches in Berlin, Stockholm and Tallinn, and representative offices in Tokyo, Moscow, Kiev, Baku and other cities. The bank employs 2,600 staff in 14 countries.... ) |