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OCC BULLETIN 1995-52
To: Chief Executive Officers of all National Banks and all Examining Personnel

Description: Clarification of Interagency Guidelines

The guidance attached to this bulletin continues to apply to federal savings associations.

On February 15, 1994, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of Thrift Supervision issued an interagency statement on retail sales of nondeposit investment products. Since that time, banking trade associations and individual depository institutions have raised questions about several areas in the interagency statement, including the requirements for disclosure to customers.

In response to these questions, on September 12, 1995, the four agencies signed two documents to clarify several points in the interagency statement. The first document deals with disclosure issues raised by several organizations, including the Consumer Bankers Association. The second responds to questions posed by the American Bankers Association. Copies of the two documents are attached.

For further information, please contact the Office of the Chief National Bank Examiner, Capital Markets, (202) 649-6360.

David P. Apgar
Senior Policy Advisor

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