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News and Issuances
Alert 2002-1
Subject: Suspicious Transactions
Date: March 13, 2002
Description: TCF National Bank letters of confirmation

Suspicious Transactions: TCF National Bank letters of confirmation

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); Assistant Deputy Comptrollers; District Counsel and Examining Personnel

The Office of the Comptroller of the Currency (OCC) has been advised by TCF National Bank, Minneapolis, MN, that certain "confirmation of funds" letters, issued from the bank's Arlington Heights Road branch office, were issued without the authority of the bank. These letters, also referred to as "Bank Capability Letters," are addressed to several different entities and signed by both the branch manager and assistant branch manager. The letters refer to transactions involving Medium Term Notes/Medium Term Senior Subordinated Bank Debentures in amounts of $500 million or more, in total or per tranche. Please be advised that these letters have no value.

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

Mr. Joseph T. Green
Legal Counsel, TCF National Bank
Phone: (612) 661-8828
Fax: (612) 338-6642

and

Mail: Office of the Comptroller of the Currency Enforcement & Compliance Division,
MS 8-10
250 E Street, SW,
Washington, DC 20219
Fax: (202) 874-5301
Internet: http://www.occ.treas.gov
E-mail: occalertresponses@occ.treas.gov

Brian C. McCormally
Director,
Enforcement & Compliance Division