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Interpretations and Actions: June 2009

Vol. 22, No. 6

Interpretive Letters

Letter No. Topic
1117 Letter concludes that a volumetric production payment financing transaction is a permissible extension of credit. Before extending credit, the bank must notify its EIC, in writing, of the proposed activities and must receive written notification of the EIC's supervisory non-objection. 04/03/2009

Corporate Decisions

Letter No. Topic
2009-05 Application by Alerus Financial, National Association to purchase the assets and assume the liabilities of one branch of Meridian Bank, National Association, Wickenburg, Arizona (Control Number 2009 CE 02 006), 05/11/2009

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

Letter No. Topic
901 Application to establish a new national bank with the title of Ford Group Bank, National Association (Control Number 2008 SO 01 0015), 11/17/2008
902 Application to establish a new national trust bank with the title of Canandaigua National Trust Company, Sarasota, Florida (Control Number 2009 NE 01 0017), 05/01/2009
903 Application to establish a new national bank with the title of Grandpoint Bank & Trust, National Association, Los Angeles, Arizona (Control Number 2008 WE 01 0008), 05/07/2009
904 Application by Deutsche Bank Trust Company, National Association, New York, New York, to amend its articles of association and the Bank's application to purchase certain assets and assume certain liabilities from Deutsche Bank Trust Company Americas, New York, New York and to establish an operating subsidiary to engage in certain lending activities. Control Number 2009 ML 01 0001), 04/23/2009
905 Application to establish a new national bank with the title of Carlile Bank, National, National Association (Control Number 2009 SO 01 0001), 04/23/2009
906 Application by Town North Bank Nevada, H.A., Henderson, Nevada, to change the composition of substantially all the assets by sale and to reduce it permanent capital. (Control Numbers 2009 SO 12 0101 & 0106), 05/29/2009

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2009-68, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Communications Division, Mail Stop 2-3, Washington, D.C. 20219. You may also submit your request electronically through the OCC's online FOIA site or fax your request to (202)-874-5274. 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, 2009 through June 14, 2009.

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 Activities. 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: Communications Division, Mail Stop 2-3, Washington, D.C. 20219; by fax to (202) 874-5274; or electronically at the OCC's online FOIA site. 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: Financial Management, Accounts Receivable, Mail Stop FM-2, 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 2-3, Washington, DC 20219.