Interpretations and Actions: July 2006
Vol. 19, No. 7
|1063||Letter concludes that a national bank may engage in customer-driven, perfectly matched, cash-settled derivative transactions (such as swaps, options, forwards, caps, floors, collars and futures) where payments are based on prices of (i) hogs (including lean hogs and pork bellies); (ii) lumber; (iii) corrugated cardboard (including new and recycled); and (iv) polystyrene. Before doing so, however, the Bank's examiner-in-charge ("EIC") must be satisfied that the Bank has adequate risk management and measurement systems and controls to conduct the activities on a safe and sound basis. 06/01/2006|
|2006-05||Application by LaSalle Bank, National Association, Chicago, Illinois to establish an operating subsidiary to assist in the management of healthcare receivable and disbursement processes. (Control Number 2006 CE 08 009), 06/16/2006|
Approvals with Conditions Enforceable under 12 U.S.C. 1818
|745||Application to merge Idaho Trust National Bank, Coeur d'Alene, Idaho, with and into Idaho Trust National Bank - Interim Bank, Boise, Idaho, under the charter of the latter and title of the former. (Control Number 2006 WE 02 0004), 06/01/2006|
|746||Application to convert First Citizens Bank of Polson, Polson, Montana, to a national bank, with the title of "First Citizens Bank of Polson, National Association," and retain all its branches. (Control Number 2006 WE 01 009), 06/22/2006|
|747||Application to establish a de novo national bank, Seaside National Bank & Trust, Orlando, Florida and for the proposed bank to establish a messenger service to operate within the counties of Orange, Seminole, Osceola and Lake, Florida. (Control Numbers 2005 SO 01 0029 & 2006 SO 05 0128), 06/27/2006|
|748||Application to establish a new national bank with the title of "Premier Commercial Bank Arizona, National Association," Mesa, Arizona. (Control Number 2006 WE 01 0006), 06/30/2006|
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 2006-80, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Reference Room, Mailstop 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 June 15, 2006 through July 14, 2006.
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.
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