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WASHINGTON, September 26, 2008 (AFP) - US bank JPMorgan Chase took over struggling Washington Mutual for 1.
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9 billion dollars, the US Federal Deposit Insurance Agency (FDIC) announced late Thursday.
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The acquisition creates the largest US depository institution with more than 900 billion dollars in customer deposits, the FDIC said in a statement.
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In the deal, JPMorgan Chase acquired the deposits, assets and some liabilities of the Seattle, Washington-based bank's operations.

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Washington Mutual -- the second largest savings and loan institution in the United States -- had seen its shares lose 80 percent of their value since the beginning of 2008.

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