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Interpretations and Actions: June 2003

Vol. 16, No. 6

Interpretive Letters

Letter No. Topic
965 Letter approves minority equity investment in a Bermuda reinsurance company in order to obtain liability insurance for bank's insurance agency subsidiary. 02/24/2003
966 Letter approves, with restrictions and conditions, the acquisition and holding certain indicia of ownership of real estate, by an operating subsidiary of the Bank, as incidental to the package of relocation services offered by that subsidiary. 05/12/2003
967 Letter concludes that risk management activities are part of an insurance agency's activities; and confirms that a bank is not required to file a new financial subsidiary notice with the OCC if the bank's existing insurance agency financial subsidiaries provide risk management services as part of their insurance agency activities. 06/06/2003

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

Letter No. Topic
590 Application to charter Franklin Community Bank, National Association, Rocky Mount, Virginia. (Control Number 2001 SE 01 005), 09/16/2002
591 Application to establish a new national bank with the title of "First National Bank of Hinckley," Hinckley, Minnesota. (Control Number 2003 MW 01 0001), 05/08/2003
592 Application by Desjardins, FSB, Hallandale, Florida, to convert from a federal savings bank to a national association, with the title of "Desjardins Bank, N.A." and certify one branch office. (Control Number 1998 SE 01 0046), 05/09/2003
593 Application by Treasury Bank, National Association, Alexandria, Virginia, to increase its capital surplus by up to $300 million. (Control Number 2003 NE 12 0098), 05/12/2003
594 Application to charter Trinity Bank, National Association, Fort Worth, Texas and establish a messenger service branch. (Control Numbers 2002 SW 01 0007 & 2002 SW 05 0128), 05/23/2003

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2003-49 , announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Reference Room, Mailstop 1-5, 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 May 15, 2003 through June 14, 2003.

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the Licensing department. The list of CRA Ratings is from the Communications Division. For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Public Information Room, Mail Stop 1-5, Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package. This helps us to process single requests based upon your citation in a more timely manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly. Subscriptions are available at a rate of $175 per year by writing to the Comptroller of the Currency, ATTN: Accounts Receivable, Mailstop 4-8, 250 E Street, S.W., Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Communications Division, Comptroller of the Currency, Mail Stop 3-2, Washington, DC 20219.