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[¶11,296] In the Matter of Bank Leumi Le-Israel B.M., Philadelphia Branch, Philadelphia, Pa., Docket No. FDIC-95-152q (6-5-96)
Liability for all of bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.
In the Matter of
BANK LEUMI LE-ISRAEL, B.M.
PHILADELPHIA BRANCH
PHILADELPHIA,PENNSYLVANIA
(INSURED STATE LICENSED
BRANCH OF A FOREIGN BANK)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE
FDIC-95-152q
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-
{{8-31-96 p.C-4208}}Insurance Corporation ("FDIC"), having found that PNC Bank, National Association, Pittsburgh, Pennsylvania ("PNC") has provided to the FDIC satisfactory evidence that it has assumed the liabilities for deposits of the Philadelphia Branch of Bank Leumi LeIsrael, B.M. ("Bank Leumi") located at 1511 Walnut Street, Philadelphia, Pennsylvania ("Branch") as of March 10, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that PNC has notified the Branch's depositors of its assumption of their deposits, hereby issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of the Philadelphia Branch of Bank Leumi as an insured state licensed branch of a foreign bank, be and hereby is terminated as of September 29, 1995.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by PNC from the Branch shall terminate at the expiration of September 11, 1995, or in the case of any time deposit, the earliest maturity date after September 11, 1995, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
Pursuant to delegated authority.
Dated at Washington, D.C., this 5th day of June, 1996.
