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Interpretations and Actions: November 1996

Vol. 9, No. 11

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.

NOTICE: This document has been amended to correct errors. As originally posted, Conditional Approval 220 was duplicated as Corporate Decision 96-64. Only the Conditional Approval citation is correct, the correct Corporate Decision 96-64 is posted for December

Interpretive Letters

Letter No. Topic
753 Letter concludes that a national bank insurance agency located in a "place of 5,000" should be permitted the same marketing range and be able to use the same marketing tools and facilities available for licensed insurance agencies in the state where the bank agency operates. (11/04/96)
754 National bank operating subsidiary to provide investment portfolio management services for the bank and computer networking packages for other financial institutions. (11/06/96)
755 Letter permits a bank to retain an excess investment in FHLB stock "where those purchases would facilitate plans, as documented in the bank's business plans or similar documents, to fund purchases of residential housing finance assets." (10/03/96)
756 Bank may purchase a minority interest in a limited liability company to be formed with an unaffiliated corporation to engage in the development, distribution and maintenance of computer software for cash management applications. (11/05/96)

Corporate Decisions

Letter No. Topic
96-59 Application to purchase the assets and assume the liabilities of the Hay Springs Branch of First National Bank of Chadron, Chadron, Nebraska by the Stockmens National Bank of Rushville, Rushville, Nebraska, under the charter of and title of the Stockmens National Bank of Rushville; (Control Number 96MW020022), (09/04/96).
96-60 Application to merge Chemical Bank FSB, Palm Beach, Florida, with and into the Chase Manhattan Private Bank (Florida) National Association, Tampa, Florida and Operate Branches of Chemical Bank FSB as branches of the Chase Manhattan Private Bank (Florida) (Control Number 96NE020032), (10/31/96).
96-61 Application from The First National Bank of Maryland, Baltimore, Maryland, to acquire The First National Bank of Maryland, D.C., Washington, District of Columbia; (Control Number 96NE020036), (11/06/96).
96-62 Application of Boatmen's National Bank of Oklahoma Tulsa, Oklahoma to Relocate a Branch to 2100 South Utica, City of Tulsa Tulsa County, Oklahoma (Control Number 96MW070022), (11/12/96).
96-63 Notification from Mellon Bank, National Association, Pittsburgh, Pennsylvania, to expand the activities of its operating subsidiary, Mellon Insurance Agency, Inc., to engage in certain general insurance agency activities (Control Number 96NE080013), (11/13/96).

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

Letter No. Topic
219 Application by Chevron U.S.A. Inc., to charter a national CEBA credit card bank with the title "Chevron Credit Bank, National Association, Murray City, Salt Lake County, Utah; (Control Number 96WE010004), (11/13/96)

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 96-136, 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 October 15 through November 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.