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Interpretations and Actions: August 1996

Vol. 9, No. 8

PLEASE NOTE: Interpretive Letters and No Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions and Decisions (CRA) are from the office of Bank Organization and Structure. The list of CRA Ratings is from the Communications Division. Copies of documents not available electronically should be requested by e-mail or by postal mail from the Office of the Comptroller of the Currency, Attn: Communications, Washington, D.C. 20219.

Please cite the letter number when reporting or summarizing documents from this package. This helps to process single requests in a more timely manner.

Interpretive Letters

Letter No. Topic
734 - part 1
734 - part 2
Letter authorizes national bank to collectively invest tax-exempt employee retirement and pension plans for which it or its affiliated banks serves as managing agent. (07/12/96)
735 Letter approves the application of a national bank to establish an OREO operating subsidiary and make investments through an operating subsidiary in one or more limited liability companies in conjunction with other participants in a loan secured by real property to acquire title to, manage, operate, develop, and improve OREO property. (07/15/96)
736 Lending limit exception for participations not limited to banks. Non-banks may act as participants. (07/25/96)

Corporate Decisions

Letter No. Topic
96-38 Applications of The First National Bank of Maryland, Baltimore, Maryland, to establish de novo branches in Reston, Virginia, and Washington, D.C.; (Control Numbers 96NE050081 & 96NE05082), (07/18/96).
96-39 Application to merge Washington Federal Savings Bank, Herndon, Virginia, with and into The First National Bank of Maryland, Baltimore, Maryland, and operate branches of Washington Federal Savings Bank in Virginia, the District of Columbia and Maryland as branches of The First National Bank of Maryland; (Control Number 96NE020019), (07/25/96).
96-40 Applications from Sun World, National Association, El Paso, Texas, to relocate its main office to Santa Teresa, New Mexico, and establish a branch at the former main office location; (Control Numbers 96ML070013 & 96ML050130), (08/02/96).
96-41 Applications to charter Great Western Bank, N.A. (California), Beverly Hills, California and Great Western Bank, N.A. (Florida), Lake Worth, Florida; (Control Numbers 95WE010001 & 95WE01002), (08/02/96).
96-42 Application to merge BayBank, National Association, Boston, Massachusetts, with and into The First National Bank of Boston, Boston, Massachusetts, under the charter of the latter and with the title of BayBank of Boston, National Association; (Control Numbers 96ML020015), (08/06/96).
96-43 Proposal to relocate the main office of Franklin National Bank of Virginia, establish a branch at the former main office, and then merge with and into Franklin National Bank of Washington, D.C.; (Control Numbers 96NE070028, 96NE050070, & 96NE020026), (08/07/96).
96-44 Application to merge Delaware Trust Company, Wilmington, Delaware, with and into Corestates Bank, N.A., Philadelphia, Pennsylvania; (Control Number 96NE020015), (08/08/96).
96-45 Applications from Crestar Bank, National Association, Washington, D.C.,, to relocate its main office to Vienna, Virginia, and establish a branch at the former main office location; (Control Numbers 96NE070031 & 96NE050087), (08/12/96).

Approvals with Conditions Enforceable under 12 U.S.C. 1818

Letter No. Topic
208 First American National Bank, Nashville, Tennessee proposed acquisition of operating subsidiary. (Control Number 96SE080007), 06/28/96
209 State to national conversion, First Trust Washington, Seattle, Washington. (Control Number 96MW010013), 06/24/96
210 Notice of First National Bank of Maryland, D.C., of intent to establish an operating subsidiary to become a member of a limited liability company. (Control Number 96NE080020), 07/15/96
211 Application by Diamond Shamrock Refining and Marketing Company to charter a national CEBA credit card bank with the title DSRM National Bank, Albuquerque, New Mexico. (Control Number 96SW010005), 07/16/96
212 Application by Fingerhut Companies, Inc. to charter a national CEBA credit card bank with the title Fingerhut National Bank, Sioux Falls, South Dakota. (Control Number 96MW010006), 07/18/96

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 96-87 , announcing the availability of enforcement actions. Copies of the final actions are available by writing to the Communications Division, OCC, Washington, D.C. 20219. When ordering, specify the appropriate Enforcement Action Number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed is a list of CRA performance evaluations that became public during the period of July 15 through August 14.

INTERPRETATIONS AND ACTIONS is published monthly by the Office of the Comptroller of the Currency. Subscriptions are available at a rate of $175 per year by writing to the Comptroller of the Currency, P.O. Box 73150, Chicago, IL 60673-7150. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Communications Division, Comptroller of the Currency, Washington, DC 20219.