NEW YORK (Reuters) - National City Corp (NCC), a large Midwestern bank whose shares fell 27 percent in morning trade on Monday, said depositors and creditors were not engaging in any unusual activity.
The decline in National City's shares came after IndyMac Bank suffered a run on the bank, forcing regulators on Friday to seize the bank, the third-largest bank failure in U.S. history.
Cleveland-based National City said that it "is experiencing no unusual depositor or credit activity." It said that as of Friday's close, it had $12 billion in excess short-term funds available to meet obligations. And because of its recent $7 billion capital raise, the company said it has one of the highest levels of capital among large banks relative to its assets.
(Reporting by Dan Wilchins; editing by John Wallace)
