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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.
Some analysts have recently called for structural changes to the banking industry to end too big to fail. This post looks back at the 1984 TBTF treatment of Continental Illinois to see whether these structural measures would have prevented the bailout.
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.
Oct 18, 2017 · Continental Illinois. Continental Illinois was a $42 billion bank holding company based in Chicago. It was a large corporate lender, a correspondent bank for many small banks, and a bank heavily dependent on short-term funding from the wholesale market.
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.
One of the city's two largest banks for most of the twentieth century, Continental was the product of a 1910 merger of two Chicago enterprises, the Commercial National Bank and the Continental National Bank.
