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Interpretations and Actions: November 2006

Vol. 19, No. 11

Interpretive Letters

Letter No. Topic
1073 Letter concludes that it is permissible for the Bank and its London branch to engage in customer-driven, metal derivative transactions that settle in cash or by transitory title transfer and that are hedged on a portfolio basis with derivatives that settle in cash or by transitory title transfer. Before the Bank may engage in these transactions, the bank must notify its examiner-in-charge ("EIC"), in writing, of the proposed activities and must receive written notification of the EIC's supervisory non-objection. 10/19/2006
1074 Letter addresses the applicability of the lending limit combination rules to loans to wind tower companies that sell their output to the same power company. 11/21/2006

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

Letter No. Topic
763 Application to convert Spectrum Bank, Irvine, California, to a national bank with the title of "Spectrum Bank, National Association" (Control Number 2006 WE 01 021), 10/03/2006
764 Application to merge The State Bank of Colony, Colony, Kansas with and into Bank of Kansas City, N.A., Overland Park, Kansas (Control Number 2006 SO 02 0039), 10/03/2006
765 Application to establish a new national bank with the title of "Texas Advantage Community Bank, National Association," Alvin, Texas (Control Number 2006 SO 01 0012), 10/12/2006
766 Application by Albany Bank and Trust Company National Association, Chicago, Illinois, to elect the corporate governance provisions of Illinois law and complete a reverse stock split in accordance with those provisions (Control Number 2006 CE 12 245), 10/17/2006
767 Application by Wells Fargo Bank Northwest, N.A. and WF National Bank South Central to transfer an existing second-tier operating subsidiary, Greenfield Funding, LLC (Control Numbers 2006 ML 08 0013, 2006 ML 12 0299, 2006 ML 12 0282, & 2006 ML 12-0301), 10/18/2006
768 Application by Bank of America, N.A., to establish a domestic branch at 1439 E. 53rd Street, Chicago, Illinois (Control Number 2006 ML 05 0420), 11/07/2006

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2006-122, 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 October 14 through November 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 $200 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.