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I UNITED STATES OF AMERICA BEFORE THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D.C. ) In the Matter of ) DEXIA,S.A. Brussels, Belgium 1 1 1 DEXIA BANK BELGIUM, S.A. ) Brussels, Belgium 1 Docket Nos. 01- 14-CMP-FB-1 01-14-CMP-FB-2 0 1 - 14-CMP-FB-3 ) ) and 1 1 DEXIA CREDIT LOCAL DE FRANCE Paris,France ) Order of Assessment of a Civil Money Penalty Issued Upon Consent Pursuant to the Federal Deposit Insurance Act, as Amended 1 1 WHEREAS, pursuant to sections 8(b)(4) and (i) of the Federal Deposit Insurance Act, as amended (12 U.S.C.18 18@)(4) and (i)) (the "FDIAct"), the Board of Governors of the Federal Reserve System (the "Board") issues this Order of Assessment of a Civil Money Penalty (the "Order") against Dexia, S.A., Brussels, Belgium, Dexia Bank Belgium, S.A., Brussels, Belgium, and Dexia Credit Local de France, Paris,France (collectively, the "Dexia Group"), foreign banks that currently are financial holding companies under section 4(1) of the Bank Holding Company Act, as amended (12 U.S.C. 1843(1)); WHEREAS, this penalty is assessed for the Dexia Group's failure to comply with section 225.93(b) of the Board's Regulation Y (12 C.F.R.225.93(b)) and with the condition imposed in writing in connection with the Board's granting of their request to I become financial holding companies requiring the Dexia Group to timely noti@ the Board if they fall out of compliance With standards for being financial holding companies; and WHEREAS, 2 Dcxia Bank Belgium, and Dexia Credit Local directing JA c 85""' AXEL q+Lca GV6c0 CL CUL 9 QAJLLIA) 9 and to enter into this Order on behalf of each member of the Dexia Group, respectively; (ii) consenting on behalf of the Dexia Group to comply with each and every provision of this Order; and (iii) waiving any and all rights the Dexia Group m a y have pursuant to section 8 of the FDI Act and 12 C.F.R.Part 263 or otherwise to: (a) the issuance of a notice of assessment of a civil money penalty; (b) a hearing for the purpose of taking evidence with respect to any matter implied or set forth in this Order, and (c) to obtain judicial review or contest in any other manner the basis, issuance, validity, effectiveness,collectibility or enforceabilityof this Order or any provision hereof. NOW THEREFORE,prior to the taking of any testimony or adjudication of or finding on any issue of fact or law herein, and without this Order constituting an admission of any allegation made or implied by the Board in connection with this proceeding: IT IS HEREBY ORDERED,pursuant to section 8(i) of the FDI Act, that: 1. The Dexia Group is hereby assessed and shall jointly pay a civil money penalty in the sum of $50,000. 2 1 2. The penalty assessed by this Order shall be remitted in full at the time of the execution of this Order, payable to the "Boardof Governors of the Federal Reserve System" and shall be forwarded to Jennifer J. Johnson, Secretary of the Board, who shall make remittance of the same to the Treasury of the United States as required by statute. 3. The provisions of this Order shall not bar, estop, or otherwise prevent the Board of Governors or any other federal or state agency from taking any other action affecting the Dexia Group or any of their current or former institution-affiliatedparties, as defined in sections 3(u) and 8(b)(4) of the FDI Act (12 U.S.C. 18 13(u) and 18 18@)(4)), or their successors and assigns. By order of the Board of Governors, this 7 -Ny day of J 4 rl % .;0 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM B Auue & &-=& DEXIA BANK BELGIUM, S.A. By: &-a Gm-A'.&. DEXIA CREDIT LOCAL DE FRANCE By: 3