[¶11,236] In the Matter of the Governor and Company of the Bank of Ireland, New York, N.Y., Docket No. FDIC-95-70a (10-11-95).
Bank agrees to termination of insured status.
In the Matter of
THE GOVERNOR AND COMPANY
OF THE BANK OF IRELAND
NEW YORK CITY (MANHATTAN),
(Insured State Licensed Branch of a
ORDER OF ACCEPTANCE
OF VOLUNTARY TERMINATION
OF INSURED STATUS
WHEREAS, pursuant to the provisions of section 8(a)(1) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(a)(1), the New York Branch of The Governor and Company of the Bank of Ireland, located at 640 Fifth Avenue, New York City (Manhattan), New York ("Insured Branch"), notified the Federal Deposit Insurance Corporation ("FDIC"), by letter dated December 23, 1994, that it was no longer desirous of continuing its status as an insured state licensed branch of a foreign bank and wished to voluntarily terminate its insured status; and
WHEREAS, the Insured Branch is also desirous of having the time frame during which the deposits of the Insured Branch continue to be insured established at six months as provided in section 8(a)(7) of the Act, 12 U.S.C. § 1818(a)(7); and
WHEREAS, as of February 21, 1995, the Insured Branch was no longer engaged in domestic retail deposit activity as defined in Part 346 of the FDIC's Rules and Regulations, 12 C.F.R. Part 346, continue to be insured for a period of six months, until April 11, 1996.
IT IS FURTHER ORDERED, that the Insured Branch notify its depositors of the termination of its insured status and the reduced time frame for the continuation of deposit insurance by no later than November 10, 1995, by publication and by mail, in a manner acceptable to the Regional Director (Supervision) of the FDIC's New York Regional Office, in accordance with sections 307.2 and 308.123 of the FDIC's Rules and Regulations, 12 C.F.R. §§ 307.2 and 308.123.
IT IS FURTHER ORDERED, that the Insured Branch shall, in all other respects, be subject to the duties and obligations of insured depository institutions until the close of business on October 11, 1995, as provided in section 8(a)(7) of the Act, 12 U.S.C. § 1818(a)(7).
Dated at Washington, D.C., this 11th day of October, 1995.
By direction of the Board of Directors.