The Monetary Board of the Central Bank has named the chief administrators for the newly intervened Banco Intercontinental (Baninter). The List?n Diario says that Mario D?valos, Bill Wall and Manuel de Jesus Vi?as will head the new administration of the troubled bank. Diario Libre reports that Vi?as will head the business sector, D?valos will take charge of operations, and Wall will assume responsibility for international operations. According to Hoy newspaper, the proposed merger of Baninter and the Banco de Progreso fell apart when Banco Progreso auditors discovered that Baninter had taken advances and discounts far in excess of its authorized capital. Furthermore, Hoy reports that the Grupo Progreso was not willing to pick up the tab for non-banking activities that would have been part of the package as an audit showed during the initial days of disclosure of Baninter operations. According to one source, the fusion would have burdened the Banco de Progreso with about RD$40 billion in monetary obligations. The same source said that the Progreso investors were willing to put up as much as RD$20 billion. Hoy newspaper?s page-two column also mentions that Banco de Progreso was not willing to assume the media operations that have been funded by Baninter. Baninter was behind millionaire media ventures such as the RNN TV network, considered to be one of the most modern and technologically advanced in the Americas.