Interpretations and Actions: June 2005
Vol. 18, No. 6
|1029||Letter grants a request for a waiver of certain provisions of the OCC's securities confirmation rules at 12 CFR Part 12 in connection with the bank's transfer agent activities for various dividend reinvestment, stock purchase and employee stock purchase plans. 05/23/2005|
|1030||Letter concludes that national bank may continue to hold a separate account BOLI investment that in turns holds interests in instruments with characteristics of debt securities and a rate of return, a portion of which is linked to equity securities, provided the bank's EIC has no supervisory objection. 05/26/2005|
|1031||Letter concludes that a bank may create a trust to purchase and hold investments beyond those allowed for national banks without violating 12 USC 24(Seventh) and 12 CFR Part 1. 01/19/1995|
|1032||Letter concludes that "GAP Addendums" sold by a national bank to borrowers in connection with the bank's motor vehicle loans, in connection with a GAP program administered by an insurance company, are debt cancellation contracts subject to 12 CFR Part 37. 06/16/2005|
|2005-03||Application to merge NorCrown Bank, Livingston, New Jersey, with and into Valley National Bank, Passaic, New Jersey, under the charter and title of the latter and Valley National Bank's application to proceed with the establishment of the approved but un-opened NorCrown branch located in Vernon, New Jersey. (Control Numbers 2004 NE 02 0050 & 2004 NE 05 0229), 05/13/2005|
|2005-04||Merger of Alliance Banking Company, New Buffalo, Michigan with and into Horizon Bank, National Association, Michigan City, Indiana. (Control Number 2005 CE 02 011), 05/20/2005|
|2005-05||Application by Wells Fargo Bank, National Association, Sioux Falls, South Dakota, to purchase the assets and assume the liabilities of four Randall County, Texas branches of PlainsCapital Bank, Houston, Texas. (Control Number 2005 ML 02 0001), 05/25/2005|
Approvals with Conditions Enforceable under 12 U.S.C. 1818
|690||Change in Bank Control Act (CBCA) notice by The Savings Bank, Wakefield, Massachusetts ("TSB") to acquire First Financial Trust, National Association, Newton, Massachusetts ("the Bank") and the application to charter "Wakefield Interim National Bank" and to consolidate "Wakefield Interim National Bank" with the Bank. (Control Numbers 2005 NE 02 0006 & 2005 NE 11 0001), 05/09/2005|
|691||Proposal by Treasury Bank, National Association to make a material non-cash contribution to capital surplus. (Control Number 2005 WE 12 0116), 05/10/2005|
|692||Conversion of Deutsche Conversion of Deutsche Bank Trust Company, New York, New York to a national bank with full trust powers with the title Deutsche Bank Trust Company, National Association;
Conversion of Deutsche Bank Trust Company, Connecticut ltd., Greenwich, Connecticut to a national bank with full trust powers with the title Deutsche Bank Trust Company, Connecticut, National Association;
Relocation of Deutsche Bank Trust Company, Connecticut, National Association to New York, New York; and the
Merger of Deutsche Bank Trust Company, Connecticut, National Association with and into Deutsche Bank Trust Company, National Association with the resulting bank to be named Deutsche Bank Trust Company, National Association (the Bank)(Control Numbers 2003 NE01 0012, 013, 2003 NE 07 0022, & 2003 NE 02 0031), 05/25/2005
|693||Application by The First National Bank of McConnellsburg, McConnellsburg, Pennsylvania to purchase the assets and assume the liabilities of the "Hancock, Maryland Office" of Hagerstown Trust Company, Hagerstown, Maryland. (Control Number 2005 NE 02 0015), 05/26/2005|
Charters with Standard Conditions
|694||Application to establish a new national trust bank which will engage solely in fiduciary activities with the title of HSBC Trust Company (Delaware), National Association to be located in Wilmington, Delaware. (Control Number 2005 NE 01 0003), 05/03/2005|
|695||Application to establish a new national CEBA credit card bank with the title of Town North Bank Nevada, National Association, to be located in Las Vegas, Nevada. (Control Numbers 2004 WE 01 0021, 2004 WE 12 0397, and 2005 WE 08 0011), 05/11/2005|
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 2005-58, 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, 2005 through June 14, 2005.
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 email 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 $175 per year by writing to the Comptroller of the Currency, ATTN: Accounts Receivable, Mail Stop 4-8, 250 E Street, S.W., 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.