[¶11,602] In the Matter of National Bank of Greece, S.A., West Roxbury Branch, West Roxbury, Massachusetts, Docket No. FDIC-99-009q (3-18-99)
FDIC terminates insured status of bank where another bank has assumed the liabilities for its deposits.
In the Matter of
NATIONAL BANK OF GREECE, S.A.
WEST ROXBURY BRANCH
WEST ROXBURY, MASSACHUSETTS
(Insured State Chartered Branch of
a Foreign Bank)
ORDER OF APPROVAL OF
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 National Bank of Greece, S.A., Boston Branch, Boston, Massachusetts ("Boston Branch"), and National Bank of Greece, S.A., Cambridge Branch, Cambridge, Massachusetts ("Cambridge Branch") have provided to the FDIC on January 20, 1999, satisfactory evidence that together they have assumed all of the liabilities for deposits of National Bank of Greece, S.A., West Roxbury Branch, West Roxbury, Massachusetts ("West Roxbury"), as of January 1, 1999, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. §307.1, and that the Boston Branch and Cambridge Branch have each notified West Roxbury Branch's depositors of their respective assumption of deposits, hereby issues the following ORDER:
IT IS HEREBY ORDERED, that the status of West Roxbury Branch as an insured state chartered branch of a foreign bank be, and hereby is, terminated as of January 20, 1999.
IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by the Boston and Cambridge Branches shall terminate at the expiration of July 1, 1999, or, in the case of any time deposits, the earliest maturity date after July 1, 1999, 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 18th day of March, 1999.