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FEDERAL RESERVE BANK
OF NEW YORK
C ircular No. 8658
October 15, 1979
To A ll Member B an k s, and Others Concerned,
in the Second F ed era l R eserve D istrict:
We have been advised that the Commissioner of Banking of the State
of New Jersey has taken possession of Livingston State Bank, Livingston, New Jersey
("Livingston”), a nonmember insured bank, on October 12, 1979 and has appointed
the Federal Deposit Insurance Corporation as receiver.
Pursuant to an agreement between the Federal Deposit Insurance Corporation
and Fidelity Union Trust Company, Newark, New Jersey, the latter has acquired certain
of Livingston’s assets and assumed certain of its liabilities, including all of
its deposit liabilities.
That transaction has been approved by the appropriate
banking and judicial authorities.
In order to serve the needs of the communities
formerly served by Livingston, Fidelity Union Trust Company has opened the former
offices of Livingston as its branches.
Fidelity Union Trust Company has requested
that we present to it all cash items and noncash items designated as payable by,
at, or through Livingston, and we will give credit for such items in accordance
with Regulation J of the Board of Governors of the Federal Reserve System and our
operating circulars.
T homas M. T imlen .
First Vice President.
@FedFRASER