The Federal Deposit Insurance Corp. said that it would open a temporary office in Jacksonville, Fla., to support the agency's handling of East Coast failures.

The office, which is to open in mid-September, would accommodate up to 500 nonpermanent employees and contractors. The size of the office's staff will depend on the volume of failures in eastern states and "the post-closing workload," the agency said.

The FDIC similarly announced in November the opening of a satellite office in Irvine, Calif., to handle failures in the western part of the country.

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