Great American May Violate Capital Rules: San...
From Times Staff and Wire Reports
Great American May Violate Capital Rules: San Diego-based Great American Bank, the nation’s eighth-largest thrift, said it will be unable to meet certain new federal capital requirements by a Dec. 7 deadline. The thrift said it expected to continue operating under normal conditions but would have to apply for regulatory approval if its board decided to declare a regular quarterly dividend in January. Great American said it currently meets the tangible capital requirement of 1.5% of assets and is “just a hair shy” of the core capital requirement of 3% of assets.
