Two banks in the Caribbean territory of Anguilla have been taken over by regional regulators.
St. Kitts & Nevis Prime Minister Denzil Douglas said Tuesday that the Eastern Caribbean Central Bank has taken control of the two banks in the territory of 16,000 people. The central bank is the monetary authority for Anguilla.
Anguilla's Chamber of Commerce says the local banks' nonperforming loans escalated in recent years. It says the takeover is "intended to stabilize both banks and
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