Federal Deposit
Insurance Corporation

{{5-31-02 p.TC-261}}

   [¶15,792A] In the Matter of MBNA America, National Association, Newark, Delaware, Docket No. 91-12kk (1-24-94).

In the Matter of
MBNA AMERICA, NATIONAL ASSOCIATION
NEWARK, DELAWARE
(Insured Depository Institution)
related to
MBNA AMERICA BANK, NATIONAL ASSOCIATION
NEWARK, DELAWARE
and
MBNA (DOVER) BANK
DOVER, DELAWARE
and
MARYLAND NATIONAL BANK
BALTIMORE, MARYLAND
and
AMERICAN SECURITY BANK, NATIONAL ASSOCIATION
WASHINGTON, DISTRICT OF COLUMBIA
(Commonly Controlled Insured Depository Institutions)
ORDER TERMINATING ORDER CONDITIONALLY GRANTING APPROVAL FOR WAIVER OF CROSS-GUARANTY

FDIC-91-12kk

   WHEREAS, on January 14, 1991, the Federal Deposit Insurance Corporation ("FDIC") issued an Order Conditionally Granting Approval For Waiver of Cross-Guaranty ("Waiver Order") in the above captioned matter; and

   WHEREAS, the Waiver Order granted an exemption for MBNA America, National Association, Newark, Delaware (now MBNA America Bank, National Association) ("Bank") from liability for any losses incurred or reasonably anticipated to be incurred by the FDIC from the default of or FDIC assistance to MBNA America Bank, National Association, Newark, Delaware (subsequently known as Central Atlantic Bank, National Association, and later as Maryland National Bank, Baltimore, Maryland), MBNA (Dover) Bank, Dover, Delaware, Maryland National Bank, Baltimore, Maryland ¹, and American Security Bank, National Association, Washington, District of Columbia (collectively, "MNC Banks"), should such occur; and

   WHEREAS, MBNA Corporation is the bank holding company that owns the Bank, and MNC Financial, Inc. is the bank holding company that controls the MNC Banks; and

   WHEREAS, MNC Financial, Inc. has been acquired by NationsBank Corporation, Charlotte, North Carolina, and, accordingly, the Bank and MNC Banks are no longer "commonly controlled depository institution[s]" within the meaning of section 5(e)(9) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. §1815(e)(9); and

   WHEREAS, by letter dated October 15, 1993, the Bank has requested that the Waiver Order be terminated.

   WHEREAS, the Board of Directors of the FDIC ("Board"), having fully considered the facts and information relating to the foregoing request, and having considered the recommendation of the Division of Supervision of the FDIC, has concluded that the requested termination of the Waiver Order is appropriate and that the request should be, and hereby is, granted.

   IT IS THEREFORE ORDERED, that the Waiver Order issued in the instant proceeding on January 14, 1991, is terminated and shall have no further force and effect.

   By direction of the Board of Directors.

   Dated at Washington, D.C., this 24th day of January, 1994.