FDIC Gives Bank Of New England FX New Life But Interbank Market May Give Cold Shoulder
BANKS
The New Bank of New England (NBNE), formerly known as The Bank of New England before it was declared insolvent and the Federal Deposit Insurance Corp. (FDIC) came to its rescue earlier this week, is optimistic about its plans to re-enter the foreign exchange interbank market where it once prospered as an aggressive super regional, but market participants say NBNE faces an uphill battle in getting its name reaccepted.
"We're wholly-owned by the FDIC, the strongest bank in America," says David
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