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{{1-31-96 p.C-4139}}
[¶11,251] In the Matter of Hongkong and Shanghai Banking Corp., New York, N.Y., Docket Nos. FDIC-95-92q, FDIC-95-115q, FDIC-95-116q, FDIC-95-117q, FDIC-95-118q, and FDIC-95-119q (11-3-95).
Liability for deposits of certain branches of bank having been assumed by another institution, FDIC terminates insured status of six of the bank's branches.
In the Matter of
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED
50 BOWERY BRANCH,
NEW YORK CITY
(MANHATTAN),NEW YORK,
36-54 MAIN STREET BRANCH,
NEW YORK CITY (FLUSHING),
NEW YORK,
254 CANAL STREET BRANCH,
NEW YORK CITY (MANHATTAN),
NEW YORK,
29 BOWERY BRANCH,
NEW YORK CITY
(MANHATTAN), NEW YORK,
40-52 MAIN STREET BRANCH,
NEW YORK CITY (FLUSHING),
NEW YORK,
and 87-03 QUEENS BOULEVARD
BRANCH
NEW YORK CITY (ELMHURST),
NEW YORK
(Insured State Licensed Branches of a
Foreign Bank)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE
FDIC-95-92q
FDIC-95-115q
FDIC-95-116q
FDIC-95-117q
FDIC-95-118q
FDIC-95-119q
Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(q), and section 18(i)(3) of the Act, 12 U.S.C. § 1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that Marine Midland Bank, Buffalo, New York ("Marine Midland") has provided to the FDIC on July 17, 1995, satisfactory evidence that it has assumed the liabilities for deposits of certain branches of The Hongkong and Shanghai Banking Corporation Limited ("HSBC") located at the following addresses:
50 Bowery, New York City (Manhattan), New York 10013
36-54 Main Street, New York City (Flushing), New York 11354
254 Canal Street, New York City (Manhattan), New York 10013
29 Bowery, New York City (Manhattan), New York 10002
40-52 Main Street, New York City (Flushing), New York 11354
87-03 Queens Boulevard, New York City (Elmhurst), New York 11373
(together "Insured Branches"), each an insured state licensed branch of a foreign bank, as of December 31, 1994, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Marine Midland has notified the depositors of the Insured Branches of its assumption of their deposits, hereby issues the following ORDER:
{{1-31-96 p.C-4140}}
ORDER
IT IS HEREBY ORDERED, that the status of each of the following branches of HSBC located at:
50 Bowery, New York City (Manhattan), New York 10013
36-54 Main Street, New York City (Flushing), New York 11354
254 Canal Street, New York City (Manhattan), New York 10013
29 Bowery, New York City (Manhattan), New York 10002
40-52 Main Street, New York City (Flushing), New York 11354
87-03 Queens Boulevard, New York City (Elmhurst), New York 11373
as insured state licensed branches of a foreign bank, be and hereby is terminated as of July 17, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Marine Midland from the Insured Branches shall terminate at the expiration of January 17, 1996, or, in the case of any time deposit, the earliest maturity date after January 17, 1996, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Dated at Washington, D.C., this 3rd day of November, 1995.
Pursuant to delegated authority.
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