{{2-28-99 p.C-4670}}
[11,579] In the Matter of Bank of Bermuda (New York) Limited, New York, New York, Docket No. 98-099p (12-29-98)
FDIC terminates insured status of bank that no longer receives deposits, other than trust funds.
In the Matter of
BANK OF BERMUDA (NEW YORK) LIMITED
NEW YORK CITY, NEW YORK
(Insured State Member Bank)
ORDER OF TERMINATION
OF INSURANCE
FDIC-98-099p
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 Bank of Bermuda (New York) Limited, New York City, New York ("BBNY"), is not engaged in the business of receiving deposits, other than trust funds, and issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of BBNY as an insured state member bank be, and hereby is, terminated at the expiration of June 30, 1999, which is the last day of the first full semiannual assessment period following the date of issuance of this ORDER.
IT IS FURTHER ORDERED, that BBNY notify its depositors, if any, of the termination of its insured status no later than May 31, 1999, 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 29th day of December, 1998.
