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{{9-31-97 p.C-4386}}
   [11,428]In the Matter of Bank Hapoalim B. M. (Americas Towers Branch), New York, New York, FDIC Docket No. 97-42q (7-25-97)

   FDIC terminates insured status of bank as an insured state licensed branch of a foreign bank where another institution has assumed the liabilities for the bank's deposits.

In the Matter of

BANK HAPOALIM B.M.
AMERICAS TOWER BRANCH

NEW YORK CITY, NEW YORK
(Insured State Licensed Branch
of a Foreign Bank)
ORDER OF APPROVAL OF
TERMINATION OF INSURANCE

FDIC-97-42q

   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. § (i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that the New York Branch of Bank Hapoalim B.M., New York City, New York ("New York ("New York Branch"), has provided to the FDIC on May 15, 1997, satisfactory evidence that it has assumed the liabilities for deposits of the Americas Tower Branch of Bank Hapoalim B.M., New York City, New York ("Americas Tower Branch"), an insured state licensed branch of a foreign bank, as of April 30, 1997, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that the New York Branch has notified the depositors of the Americas Tower Branch of its assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of the Americas Tower Branch as an insured state licensed branch of a foreign bank, be and hereby is terminated as of May 15, 1997.
   Pursuant to delegated authority.
   Dated at Washington, D.D., this 25th day of July, 1997.

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