WASHINGTON — Regulators in Puerto Rico closed three banks Friday – representing a third of the island's institutions and a quarter of its assets – in a move sure to change the face of banking in the commonwealth.

The coordinated failures of $12 billion-asset Westernbank, $6 billion-asset R-G Premier Bank and $2.6 billion-asset Eurobank were estimated to cost the government $5.3 billion. The closures brought this year's total to 60.

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