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{{4-30-02 p.C-5355}}

   [11,896] In the Matter of Citibank USA, Wilmington, Delaware, Docket No. 02-001q (2-11-02)

   Status of bank as insured state nonmember bank terminated.

In the Matter of
CITIBANK USA
WILMINGTON, DELAWARE
(Insured State Nonmember Bank)
ORDER OF APPROVAL OF TERMINATION OF INSURANCE

FDIC-02-001q

   Pursuant to section 8(q) of the Federal Deposit Insurance Act (the "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 Citibank (South Dakota), N.A., Sioux Falls, South Dakota ("Citibank SD"), has provided to the FDIC on January 3, 2002, satisfactory evidence that it has assumed the liabilities for deposits of Citibank USA, Wilmington, Delaware ("Citibank USA"), as of January 2, 2002, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of Citibank USA as an insured state nonmember bank be, and hereby is, terminated as of January 3, 2002.

   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Citibank SD from Citibank USA shall terminate at the expiration of July 2, 2002, or, in the case of any time deposit, the earliest maturity date after July 2, 2002, as provided in section 8(q) of the Act, 12 U.S.C. §1818(q).

   IT IS FURTHER ORDERED, that Citibank SD shall give notice of such assumption to each of the depositors of Citibank USA within thirty days after such assumption has taken effect, if it has not already done so, in a manner acceptable to the Regional Director of the FDIC's New York Regional Office.

   Pursuant to delegated authority.

   Dated at Washington, D.C., this 11th day of February, 2002.

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