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FDIC Enforcement Decisions and Orders

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{{10-31-92 p.C-864}}
   [10,193] In the Matter of Citibank (Utah), Salt Lake City, Utah, Docket No. FDIC-91-16q (3-14-91).

   FDIC terminates insurance of Bank whose liabilities have been assumed by another bank.
In the Matter of

(Insured State Nonmember Bank)

   Pursuant to section 8(q) of the Federal Deposit Insurance Act (the "Act"), 12 U.S.C. § 1818(q), the Federal Deposit Insurance Corporation ("FDIC"), having found that Citibank (Utah), State Lake City, Utah ("Insured Institution"), has provided to the FDIC on November 2, 1990, satisfactory evidence that its liabilities for deposits have been assumed by Key Bank of Utah, Ogden, Utah ("Key Bank of Utah"), on October 5, 1990, and that Key Bank of Utah has notified the Insured Institution's depositors of its assumption of their deposits, hereby issues the following ORDER:


   IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured State nonmember bank be, and hereby is, terminated at the expiration of November 2, 1990.
   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by Key Bank of Utah from the Insured Institution shall terminate at the expiration of May 2, 1991, or in the case of any time deposit, the earliest maturity date after May 2, 1991, 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 14th day of March, 1991.

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