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National City enters agreements with regulators
June 10 (Reuters) - National City Corp (NCC.N: Quote, Profile, Research), a large U.S. Midwest regional bank, said on Tuesday it entered into agreements with federal regulators concerning its asset quality and its ability to manage capital, risk and liquidity.
The Cleveland-based bank confirmed that it has entered memorandums of understanding with the Office of the Comptroller of the Currency and the Federal Reserve Bank of Cleveland.
National City shares rose as much as 10.7 percent after Chief Executive Peter Raskind said the agreements address issues that existed in April, and which have already been disclosed. The bank in April raised $7 billion of capital from private equity firm Corsair Capital and other investors.
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June 10 (Reuters) - National City Corp (NCC.N: Quote, Profile, Research), a large U.S. Midwest regional bank, said on Tuesday it entered into agreements with federal regulators concerning its asset quality and its ability to manage capital, risk and liquidity.
The Cleveland-based bank confirmed that it has entered memorandums of understanding with the Office of the Comptroller of the Currency and the Federal Reserve Bank of Cleveland.
National City shares rose as much as 10.7 percent after Chief Executive Peter Raskind said the agreements address issues that existed in April, and which have already been disclosed. The bank in April raised $7 billion of capital from private equity firm Corsair Capital and other investors.
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