Alert 1996-41| October 30, 1996

Unauthorized Banking: United Pacific Bank, Ltd.

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 Vanuatu Financial Services Commission of the Republic of Vanuatu has advised that the banking license of the subject entity, previously registered as the First Asia Development Bank, Ltd., has been revoked. Please be guided accordingly.

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

Office of the Comptroller of the Currency
Enforcement & Compliance Division
250 E Street, SW
Washington, DC 202l9
Fax (202) 874-5301

Daniel P. Stipano
Director
Enforcement & Compliance Division