[¶11,996] In the Matter of State Bank of India, Flushing, New York, Docket No.
FDIC terminates insured status of bank that no longer receives
In the Matter of
STATE BANK OF INDIA FLUSHING BRANCH FLUSHING, NEW YORK (Insured Branch of a Foreign Bank)
ORDER OF TERMINATION OF INSURANCE
Pursuant to section 8(p) of the Federal Deposit Insurance Act, 12
U.S.C. §1818(p), the Federal Deposit Insurance Corporation
("FDIC"), hereby finds that the State Bank of India, Flushing
Branch, Flushing, New York ("Insured Institution"), is not
engaged in the business of receiving deposits, other than trust funds,
and issues the following ORDER:
IT IS HEREBY ORDERED, that the status of the Insured Institution
as an insured branch of a foreign bank, be and hereby is, terminated at
the expiration of June 30, 2003, which is the last day of the first
full semiannual assessment period following the date of issuance of
IT IS FURTHER ORDERED, that the Insured Institution notify its
depositors, if any, of the termination of its insured status no later
than May 30, 2003, in the manner required by section 308.124(c) of the
FDIC's Rules of Practice and Procedure, 12 C.F.R. §308.124(c).
Pursuant to delegated authority.
Dated at Washington, D.C., this 9th day of December, 2002.