This was an unexpected headline for me this morning:

The Dutch central bank shuttered DSB Bank NV, a struggling consumer and mortgage lender, after a run by depositors that followed a call from a consumer group to pull money out of the controversial institution.

The government said it would begin an investigation into what happened at the bank, a privately owned institution with reported assets of some €8 billion ($11.77 billion).

..

The takeover of DSB, which said it had 1.3 million clients, came after weekend talks between the government and the country’s five main banks failed to find a way to save it.

The central bank won an emergency court order Monday morning that put DSB into the hands of administrators. It described DSB’s solvency as being “under serious pressure.” Nout Wellink, the central bank president, told reporters that €600 million, or 17% of DSB Bank’s total deposits, had been withdrawn since Oct. 1.

With 17% of the total deposits being pulled out, I have one question – was international or local money?  When there was a virtual “run” on the banks last year (WaMu specifically), a large portion of the funds were being pulled out by international clients.

Related posts:

1. FDIC Friday (the 13th)
2. 7(!) banks closed by the FDIC today.
3. Integrity Bank of Alpharetta, Georgia, 10th bank to close this year
4. From the obvious file – Banks need capital
5. Citigroup buys Wachovia bank assets for $2.2B