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{{5-31-96 p.C-4138}}
   [11,250] In the Matter of Daiwa Bank Trust Co., New York, N.Y., Docket No. FDIC-95-155a (11-1-95).

   Insured status of state nonmember bank terminated pursuant to a settlement agreement with the FDIC Board of Governors and the state of New York superintendent of banks. (The settlement agreement in this case was amended pursuant to an agreement between the FDIC and the Daiwa Bank Trust Co. dated 2-2-96. See ¶16,069A.)
In the Matter of
DAIWA BANK TRUST COMPANY
NEW YORK,NEW YORK
(Insured State Nonmember Bank)
ORDER OF TERMINATION OF
INSURED STATUS

FDIC-95-155a

   WHEREAS, pursuant to the provisions of section 8(a)(2) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(a)(2), Daiwa Bank Trust Company, New York, New York ("Insured Institution"), notified the Federal Deposit Insurance Corporation ("FDIC") that it agreed to enter into a SETTLEMENT AGREEMENT to terminate its insured status.
   WHEREAS, the SETTLEMENT AGREEMENT is being entered into in conjunction with the Superintendent of Banks for the State of New York ("Superintendent") and the Board of Governors of the Federal Reserve System, who have each issued orders terminating the United States operations of the parent of the Insured Institution, The Daiwa Bank Limited, Osaka, Japan, and the Superintendent has also issued an order terminating the operations of the Insured Institution.
   THEREFORE, in consideration of the foregoing, and pursuant to the provisions of section 8(a)(2) of the Act, the FDIC herewith issues the following:

ORDER

   IT IS HEREBY ORDERED, that the insured status of Daiwa Bank Trust Company, New York, New York be, and hereby is, terminated at the expiration of February 2, 1996.
   IT IS FURTHER ORDERED, that the insured deposits of each depositor in Daiwa Bank Trust Company, New York, New York, on February 2, 1996, less all subsequent withdrawals from any deposits of such depositor, shall continue to be insured for a period of 6 months thereafter, until August 5, 1996.
   IT IS FURTHER ORDERED, that Daiwa Bank Trust Company adhere to the following procedures to implement the termination of its insured status:

       (a) The Insured Institution shall give notice to its depositors of such termination. This notice shall be published in two issues of a newspaper of general circulation in New York, New York, where offices of the Insured Institution are located, not fewer than fifteen (15) days prior to the date the insured status of the Insured Institution terminates, and mailed not fewer than fifteen (15) days prior to the date the insured status of the Insured Institution terminates, and shall be:
         (i) mailed to each depositor at his or her last address of record as shown on the books of the Insured Institution, and
         (ii) in the form attached hereto as an Appendix; provided, however, that with the prior written approval of the Regional Director of the FDIC's New York Regional Office, the Insured Institution may include in such notice any additional information or advice it may desire to give its depositors which is not inconsistent with the above.
       (b) The Insured Institution shall furnish to the FDIC an affidavit of mailing and proof of publication of the notice required by paragraph (a) above.
       (c) After the date of termination of the Insured Institution's insured status, the Insured Institution shall not advertise or hold itself out as having insured deposits unless in the same connection it shall also state with equal prominence that additions to such deposits and new deposits made after the date of the termination of its insured status are not insured. The Insured Institution further shall not use any of its checks, letterheads, promotional materials, signs and the like which bear the work "Member FDIC" or any like statements relating to membership in or supervision by the FDIC.
   IT IS FURTHER ORDERED, that the Insured Institution shall continue to file statements and pay assessments for the period the deposits are insured according to the provisions of Section 7 of the Act, 12 U.S.C. § 1817.
   IT IS FURTHER ORDERED, that in the event the FDIC determines that the Insured Institution has not substantially complied with {{1-31-96 p.C-4139}}any of the foregoing provisions, the FDIC shall:
       (a) Send notice of the termination of the insured status of the Insured Institution to each of the Insured Institution's depositors at his or her last address of record on the books of the Insured Institution; and/or
       (b) Publish notice of the termination of the Insured Institution's insured status in the issues of a local newspaper of general circulation in New York, New York where offices of the Insured Institution are located; and/or
       (c) Post a copy of such notice in the lobby of the Insured Institution and its branches, the local post office, or any other appropriate place of equal prominence; and/or
       (d) Seek any judicial order as it may deem proper or necessary to require the Insured Institution to comply with the provisions herein.
   By direction of the Board of Directors.
   Dated at New York, New York, this 1st day of November, 1995.

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