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{{2-28-99 p.C-4671}}
[11,581] In the Matter of Korea First Bank, Chicago Branch, Chicago, Illinois, Docket No. 98-115p (12-29-98)
FDIC terminates insured status of bank that no longer receives deposits.
In the Matter of
KOREA FIRST BANK,
CHICAGO BRANCH
CHICAGO, ILLINOIS
(Domestic Office of a Foreign Bank)
ORDER OF TERMINATION
OF INSURANCE
FDIC-98-115p
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 Korea First Bank, Chicago Branch, Chicago, Illinois ("KFBC"), is not engaged in the business of receiving deposits, and issues the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of KFBC as a domestic office of a foreign 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 KFBC 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.
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