DOB: News Bulletin 1816 - December 11, 1998

The Department of Banking News Bulletin

Bulletin # 1816
Week Ending December 11, 1998

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.


NEW BANK ACTIVITY

Pursuant to Section 36a-70(i) of the Connecticut General Statutes, on December 7, 1998, a temporary certificate of authority was issued to the organizers of The Apple Valley Bank & Trust Company, Cheshire.

INTEREST RATE TO BE PAID ON
MORTGAGE ESCROW ACCOUNTS, PUBLIC SERVICE COMPANY CUSTOMER SECURITY DEPOSITS
AND TENANT SECURITY DEPOSITS

In accordance with Sections 49-2a, 16-262j and 47a-21(i) of the Connecticut General Statutes, the interest rate to be paid on mortgage escrow accounts, public service company customer security deposits and tenant security deposits is 2.3% for the period commencing January 1, 1999 and ending December 31, 1999.

SECTION 36a-425 APPROVAL

On December 7, 1998, approval was granted to The Bank of New York Company, Inc., a New York corporation, and Alliance Capital Partners, L.P., a Delaware limited partnership, to establish offices of their jointly-owned subsidiary, BNY Mortgage Company LLC, a New York limited liability company, at 10 Mason Street, Greenwich, and 1150 East Putnam Avenue, Riverside, Connecticut.

MAIN OFFICE RELOCATION

On December 14, 1998, the relocation of the main office of Aeltus Trust Company from 242 Trumbull Street, Hartford, Connecticut, to 10 State House Square, Hartford, Connecticut, became effective.

Dated: Tuesday, December 15, 1998

John P. Burke
Banking Commissioner