BANKING

BCCI Assets May Recapitalize Encino Bank: Independence Bank Chief Executive Fulvio Dobrich said a portion of the $450 million in assets held by the Bank of Credit & Commerce International in the United States when BCCI was seized in July may be sold to help replenish the institution’s dwindling financial cushion. Dobrich said the Federal Reserve and state banking officials are working on a plan, but that a number of problems remain. They include overcoming legal obstacles that have prevented Independence from formally cutting its ties to its owner, Saudi financier Ghaith R. Pharaon. Federal officials allege that Pharaon bought Independence in 1985 as a front man for BCCI.