Close
Office of the Comptroller of the Currency, Ensuring a safe and sound national banking 
        system for all Americans  
Home About OCC News and Issuances Publications Tools and Forms Topics

Corporate Applications and Other Requests:

June 2008

Vol. 21, No. 6

IN THIS ISSUE:

Interpretive Letters

Letter No. Topic
1098 Letter responds to several questions about the eligibility requirements for assignment of a favorable credit conversion factor to asset-backed commercial paper (ABCP) liquidity facilities. (1) External ratings issued by NRSROs must be published in accessible public form and monitored by the NRSRO. Private ratings do not qualify. (2) If the liquidity facility supports privately rated or unrated ABS, a bank may look through to the underlying assets if aging analyses and information on the relevant credit enhancements are available. (3) When the underlying assets are OECD central government-guaranteed assets, the liquidity facility would be deemed eligible. (4) In both cases, the risk weight would be subject to a 20% floor. 03/01/2007

CRA Decisions

Letter No. Topic
142 Application to merge Commerce Bank, National Association, Philadelphia, Pennsylvania, and Commerce Bank/North, Ramsey, New Jersey into TD Banknorth, National Association, Portland, Maine, under the charter of the latter and title of TD Bank, National Association (Control Number 2008 NE 02 003), 05/19/2008
143 Application by Wachovia Bank, National Association, Charlotte, North Carolina to establish a branch at 13101 Preston Road, Dallas, Texas (Control Number 2008 ML 05 0099), 05/22/2008

Approvals with conditions enforceable under 12 U.S.C. 1818

Letter No. Topic
849 Application to establish a new national bank with the title of "New Traditions National Bank" headquartered in Orlando, Florida (Control Number 2007 SO 01 0028), 03/27/2008
850 Application to establish a new national bank with the title of "The MINT National Bank" headquartered in Kingwood, Texas (Control Number 2007 SO 01 0023), 04/08/2008
851 Application by The Bridgehampton National Bank, Montauk, New York to establish a branch at 4-6 Gingerbread at Race Lane, East Hampton, New York (Control Number 2007 NE 05 0260), 04/16/2008
852 Applications to establish a new national bank with the title of "Oak Hill National Bank" headquartered in Warrenton, Virginia; to establish a branch at the intersection of Winchester Road and Route 622 Extended/Access Road, Marshall, Virginia; and to establish a messenger service branch to serve the communities within Fauquier County, Virginia (Control Numbers 2007 NE 01 0019, 2007 NE 05 0254 & 0255), 04/16/2008
853 Applications by Marshall & Ilsley Trust Company National Association, Milwaukee, Wisconsin to establish an operating subsidiary an to receive a material non-cash contribution to capital surplus for a material non-cash contribution to capital surplus (Control Numbers 2007 NE 08 021 & 2007 NE 12 313 ), 05/08/2008
854 Application to establish a new national bank with the title of "Manchester Financial Bank, National Association" headquartered in San Diego (La Jolla), California (Control Number 2008 WE 01 0001), 05/14/2008
855 Application to establish a new national bank with the title of "SoCal Business Bank, National Association" headquartered in Los Angeles (Van Nuys), California (Control Number 2007 WE 01 0019), 05/19/2008

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2008-69, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Information Room, Mail Stop 1-5, Washington, D.C. 20219. 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, 2008 through June 14, 2008.

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. 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: Public Information Room, Mail Stop 1-5, Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to FOIA-PA@occ.treas.gov. 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 3-2, Washington, DC 20219.