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Interpretations and Actions: November 2003

Vol. 16, No. 11

CRA Decisions

Letter No. Topic
117 Application by Citibank USA, National Association, Sioux Falls, South Dakota to purchase substantially all of the assets of Sears National Bank, Tempe, Arizona. (Control Number 2003 ML 02 0008), 10/16/2003

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

Letter No. Topic
605 Application to establish a new national trust bank, which will engage solely in fiduciary activities, with the title of "State Street Bank and Trust Company of New England, National Association," Hartford, Connecticut, to facilitate the sale of a trust line of business to U.S. Trust Company, National Association, Greenwich, Connecticut. (Control Number 2003 NE 01 0011), 10/15/2003
606 Applications by U.S. Trust Company, National Association ("USTrust"), Greenwich, Connecticut to purchase certain assets and assume certain liabilities of State Street Bank and Trust Company, Boston, Massachusetts and, thereafter, to effect a merger of State Street Bank of New England, National Association (Organizing) with and into USTrust, under the charter and title of the latter. (Control Numbers 2003 NE 02 0029 & 0030), 10/15/2003
607 Application to establish a new trust bank with the title of "1st Century Bank, N.A.," Los, Angeles, California. (Control Number 2003 WE 01 0005), 10/24/2003

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2003-90 , 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 October 15, 2003 through November 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.