FDIC seizes Californian bank
The bank, which has been renamed IndyMac Federal, is the biggest to be seized since First RepublicBank Corporation collapsed in 1988 and is expected to cost the regulator between $4 billion and $8 billion.
The FDIC, which insures deposits with a value of up to $100,000, said on Friday that the bank had $1 billion-worth of uninsured deposits
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