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The neo-classical Continental Illinois Bank Building at 231 South LaSalle Street in Chicago, Illinois. Continental Illinois can be traced back to two Chicago banks, the Commercial National Bank, founded during the American Civil War, and the Continental National Bank, founded in 1883.
May 15, 2023 · Continental Illinois was one of the largest banks in the United States before nearly failing in 1984. 1 Federal regulators sought to avoid the bank’s failure, which they determined would have resulted in widespread economic harm, by providing the bank with substantial public financial support.
Too big to fail has been an important public policy issue since the 1984 bailout of Continental Illinois National Bank and Trust Company and its parent holding company, Continental Illinois Corp. 1 Congress tried to end too big to fail (TBTF) in 1991 with its passage of the Federal Deposit Insurance Corporation Improvement Act (FDICIA). 2 TBTF ...
Continental Illinois and fiToo Big to Failfl. Introduction. One of the most notable features on the landscape of the banking crises of the 1980s was the crisis involving Continental Illinois National Bank and Trust Company (CINB) in May 1984, which was and still is the largest bank resolution in U.S. history.
THE CONTINENTAL ILLINOIS BANK F AlLURE: HOW DID IT HAPPEN? by Paul F. DeCain I. Introduction "In many regards Continental is the best commercial bank in the country" (Osborne, 1980, p. 173). As this statement by Kenneth West, President of Harris Trust, suggests, many considered Continental Illinois Bank to
Continental Illinois (Continental) was a major US commercial bank that experienced a massive and widely publicized run by its short-term creditors in May 1984. 1 Out of fear that Continental’s failure would have broad fallout in the financial system, the
Continental Illinois® was for many years the trade name of America’s largest Midwestern bank and financial combine. The bank encountered funding challenges in the early/mid 1980’s and then was folded into Bank of America.
