DOB: News Bulletin 2130 - December 17, 2004

The Department of Banking News Bulletin 

 Bulletin # 2130
Week Ending December 17, 2004

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, Commissioner of Banking, 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.


INTEREST RATE TO BE PAID ON CLAIMS FOR PROPERTY, FUNDS OR
MONEY DELIVERED TO THE STATE TREASURER PURSUANT TO
SECTION 3-57a(a)(1) or (2), MORTGAGE ESCROW ACCOUNTS,
PUBLIC SERVICE COMPANY, CERTIFIED TELECOMMUNICATIONS PROVIDER
AND ELECTRIC SUPPLIER CUSTOMER SECURITY DEPOSITS
AND TENANT SECURITY DEPOSITS

In accordance with Sections 3-70a(e), as amended by June 30 Special Session Public Act 03-1, 16-262j(d), 47a-21(i)(2) and 49-2a(c) of the Connecticut General Statutes, the deposit index for calendar year 2005 is 0.53%. However, Sections 3-70a(e), as amended, 16-262j(c), 47a-21(i)(1) and 49-2a(a) provide that in no event shall the rate be less than 1.5%. Therefore, the interest rate to be paid on claims for property, funds or money delivered to the State Treasurer pursuant to Section 3-57a(a)(1) or (2), and mortgage escrow accounts, public service company, certified telecommunications provider and electric supplier customer security deposits and tenant security deposits is 1.5% for the period commencing January 1, 2005 and ending December 31, 2005.

ACQUISITION

On December 14, 2004, pursuant to Section 36a-411 of the Connecticut General Statutes, the Commissioner approved the application of The Royal Bank of Scotland Group plc and Citizens Financial Group, Inc., to acquire and retain the ownership and control of 100% of the to be issued voting stock of RBS National Bank, and, pursuant to Section 36a-185 of the Connecticut General Statutes, as amended by Public Act 03-259, issued a notice of intent not to disapprove such acquisition.

Dated: Tuesday, December 21, 2004

John P. Burke
Commissioner