FDIC Open-Bank Assistance
Merrill Lynch Bank USA
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Assistance provided January 16, 2009 · Salt Lake City, UT · FDIC Cert #27374.
- Assistance date
- January 16, 2009
- Headquarters
- Salt Lake City, UT
- FDIC Certificate
- 27374
- Total assets at the time
- $61.81B
- Total deposits at the time
- $53.62B
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Open-bank assistance (the institution stayed open)
Context
On January 16, 2009, the FDIC provided open-bank assistance to Merrill Lynch Bank USA, headquartered in Salt Lake City, UT. The institution continued operating. At the time it held approximately $61.81B in assets and $53.62B in deposits. No acquirer was involved; the institution remained independent.
The FDIC record for 2009 holds 140 failures and 8 open-bank assistance transactions. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did the FDIC provide assistance to Merrill Lynch Bank USA?
Merrill Lynch Bank USA received FDIC open-bank assistance on January 16, 2009; it did not fail.
How big was Merrill Lynch Bank USA at the time of assistance?
Merrill Lynch Bank USA had approximately $61.81B in total assets and $53.62B in deposits at the time of assistance.
Bank failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
Explore: all failures · UT bank events · 2009 events · events hub