WASHINGTON -- Riggs National Corp. and Riggs National Bank have entered into agreements with their respective regulators aimed at restoring long-term financial health.

The holding company agreed last week to file various reports with the Federal Reserve Bank of Richmond and notify it of dividend declarations and other expenditures. The agreement was in memorandum of understanding, the least severe of three levels of regulatory intervention.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.