The Government Development Bank for Puerto Rico released its most recent liquidity statement late last week, showing a balance of $1.02 billion net as of April 30, representing a drop from the $1.11 billion the agency reported for the prior month.
In a letter sent to Doral Bank earlier this week, the Federal Deposit Insurance Corp. advised the financially crippled bank to “accept an offer to combine with another insured depositary institution,” or improve its capital levels to once again be considered as “adequately capitalized.”
Doral Bank, a wholly owned subsidiary of Doral Financial Corporation, announced Thursday the completion of the sale of of certain loans, advances, mortgages, and loan participation rights to WOMF REV, LLC, which will shore up $181.3 million in cash for the troubled financial institution.
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