Alert 1996-19 | July 2, 1996

Suspicious Transactions: Bank Guarantee Instruments

To

Chief Executive Officers of all National Banks; all State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); District Administrators; District Counsel; and Examining Personnel

The Office of the Comptroller of the Currency has received inquiries regarding Bank Guarantee instruments issued by the Marshall Islands Development Bank. A copy of one such instrument is attached. The government of the Republic of the Marshall Islands has issued a PRESS RELEASE dated June 27, 1996, which indicates that all such instruments have been withdrawn and voided; copy attached. Please be guided accordingly.

Any information which you may have concerning this matter should be brought to the attention of:

Office of the Comptroller of the Currency
Enforcement & Compliance Division
250 E Street, S.W.
Washington, D.C. 202l9
Fax (202) 874-5301

Daniel P. Stipano
Director
Enforcement & Compliance Division

Topic(s):

Suspicious Activity Reports (SAR)