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Interpretations and Actions: April 2006

Vol. 19, No. 4

Interpretive Letters

Letter No. Topic
1056 Letter concludes that a national bank may engage in customer-driven, perfectly matched, cash-settled derivative transactions on reference assets permitted under OCC Interpretive Letter No. 1039 (September 13, 2005), with the exception of emissions allowances, and on frozen concentrate orange juice, low density polyethylene and polypropylene, provided the Bank's examiner-in-charge ("EIC") is satisfied that the Bank has adequate risk management and measurement systems and controls to conduct the activities on a safe and sound basis. 03/29/2006

Corporate Decisions

Letter No. Topic
2006-04 Purchase and assumption application by First American National Bank, Iuka, Mississippi to acquire four branches of AmSouth Bank, Birmingham, Alabama. (Control Number 2006 SO 02 0006), 03/13/2006

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

Letter No. Topic
736 Application to establish a new national bank with the title of "RepublicBankAz, National Association," Phoenix, Arizona, and the application for messenger service. (Control Numbers 2005 WE 01 0015 & 2005 WE 05 0154), 03/27/2006
737 Application by First Coastal Bank, National Association, Manhattan Beach, California to conduct fiduciary powers. (Control Number 2006 WE 12 0017), 03/27/2006
738 Application to establish a new national bank with the title of "Commerce Bank of Wyoming, National Association," Rock Springs, Wyoming. (Control Number 2006 WE 01 0004), 03/31/2006

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2006-46, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Information Room, Mail Stop 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 March 15, 2006 through April 14, 2006.

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 office of Licensing. The Community Development Investment Letters are from the office of Community Affairs. 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 timelier 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, Mail Stop 4-8, 250 E Street, S.W., Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 3-2, Washington, DC 20219.