LOS ANGELES, July 2, 2009 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN), the parent company of City National Bank, today announced the bank will accept from its clients the registered warrants issued by the state of California.
"To assist our clients through this difficult period, City National will, in most instances, accept the registered warrants from our clients who receive them in payment of obligations owed to them by the state," said Christopher J. Warmuth, president of City National Bank. "As always, we remain committed to working with clients affected by the state budget issues on a case-by-case basis to address their short-term liquidity and related financial needs."
The bank will not accept registered warrants from non-clients. As the time frame for resolution of the California fiscal crisis is still unknown, the bank reserves the right to refuse acceptance of warrants at its discretion.
About City National
City National Corporation, the parent company of City National Bank, is headquartered in Los Angeles and backed by $16.9 billion in total assets. In addition to wealth management services, the company provides banking solutions through 63 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City.
For more information about City National, visit the company's Website at cnb.com.
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