One of the largest US mortgage lenders, the California-based IndyMac Bank, has collapsed amid a growing credit crisis.
Federal regulators seized the bank's assets, fearing it might not be able to meet withdrawals by depositors.
It is the second-largest financial institution to fail in US history, regulators say.
The failure came on a day when shares in the two biggest US home loan institutions - Freddie Mac and Fannie Mae - fell at one stage by almost 50%.
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