Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{8-31-96 p.C-4215}}
   [11,305] In the Matter of the Chase Manhattan Bank of Maryland, Baltimore, Md., Docket No. FDIC-96-34q (6-26-96)

   Liability for all of bank's deposits having been assumed by another institution, FDIC terminates bank's insured status.

In the Matter of
THE CHASE MANHATTAN BANK OF
MARYLAND

BALTIMORE,MARYLAND
(INSURED STATE MEMBER BANK)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE

FDIC-96-34q

   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 Crestar Bank MD, Bethesda, Maryland ("Crestar") ("Assuming Institution") has provided to the FDIC on March 7, 1996, satisfactory {{8-31-96 p.C-4216}}evidence that it has assumed the liabilities for deposits of The Chase Manhattan Bank of Maryland, Baltimore, Maryland ("Chase") ("Insured Institution"), as of November 10, 1995, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that Crestar has notified the depositors of Chase of Crestar's assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of Chase as an insured state member bank, be and hereby is, terminated as of March 7, 1996.
   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Crestar from Chase be terminated at the expiration of May 10, 1996, or in the case of any time deposit, the earliest maturity date after May 10, 1996, 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 26th day of June, 1996.

ED&O Home | Search Form | Text Search | ED&O Help

Last Updated 6/6/2003 legal@fdic.gov