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Miscellaneous -
Fixed-rate annuities underwriting
Bank may engage as principal, through a wholly-owned subsidiary, in fixed-rate annuity underwriting, including reinsurance activities.
Disclaimer
The following list shows those activities and investments approved by the FDIC under Section 24 of the
Federal Deposit Insurance Act and Part 362 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 362. The list provides
insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve
under Section 24. However, the fact that a particular activity or investment has received FDIC approval in the past does not
affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity.
Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review
of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity.
Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory
changes may have taken place, which might impact how the issues would be treated today.
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CHASE MANHATTAN BANK DE
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WILMINGTON, DE
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| Application or Notice |
Board or Delegated Authority |
Date of Approval |
Amount of Investment |
Percent of Tier I Capital |
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Application
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Board Action
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5/13/1998
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28.19%
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Application to engage as principal, through two wholly-owned subsidiaries, in fixed-rate annuity
underwriting, including reinsurance activities.
Chase Manhattan Bank Delaware
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CITIBANK DELAWARE
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NEW CASTLE, DE
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| Application or Notice |
Board or Delegated Authority |
Date of Approval |
Amount of Investment |
Percent of Tier I Capital |
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Application
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Board Action
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3/26/1996
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19.90%
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Applicant request consent to continue to engage in the underwriting of fixed rate annuities contracts through
two wholly-owned insurance company subsidiaries.
Citibank (Delaware)
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