Corporate Applications:

May 2007

Vol. 20, No. 5

IN THIS ISSUE:

Interpretive Letters

Letter No.	Topic
1078	Letter concludes that a national bank's custody activities with respect to the described Custody Trust Ledger Deposit Account Program are permissible, and that the program's non-cash earnings credit feature is not inconsistent with safe and sound banking practices. The program provides for the deposit by broker-dealers of customer funds in accordance with SEC Rule 15c3-3 (special reserve bank account for the exclusive benefit of customers), in accounts maintained in the bank's trust department. 04/19/2007
1079	Letter concludes that it is legally permissible for a national bank to engage in customer-driven, perfectly matched, cash-settled derivative transactions on inflation indices. Before the bank may engage in the transactions, the bank must notify its examiner-in-charge ("EIC"), in writing, of the proposed activities and must receive written notification of the EIC's supervisory no-objection, based on the EIC's evaluation of the adequacy of the bank's risk measurement and management systems and controls to enable the bank to engage in the proposed activities on a safe and sound basis, and the EIC's evaluation of any other supervisory considerations relevant to the particular proposal. 04/19/2007
1080	Letter sets forth the OCC's opinion that a Bank is authorized under federal law to be appointed, and accept any appointment, to act in a fiduciary capacity permitted to state fiduciaries in Missouri without obtaining any express qualification under Missouri law, including a reciprocity certificate. 04/24/2007

CRA Decisions

Letter No.

Topic

138

Application for Business Bank of Nevada, Las Vegas, Nevada to merge with and into City National Bank, Beverly Hills, California (Control Number 2006 WE 02 0030), 04/04/2007

139

Applications to convert Capital One, F.S.B., McLean, Virginia, to a national bank; merge the converted bank and North Fork Bank, Mattituck, New York, into Capital One, National Association, New Orleans, Louisiana; and for Capital One National Association to received a material non-cash contribution from its holding company, Capital One Financial Corporation (Control Numbers 2006 ML 01 0018, 2006 NE 02 014, & 2006 NE 12 0319), 02/20/2007

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

Letter No.	Topic
797	Proposal to consolidate Community Bank of Texas, National Association, Grand Prairie, Texas, with New Community Bank of Texas, National Association, Fort Worth, Texas, with and under the title of Community Bank of Texas, National Association (Control Number 2007 SO 02 0004), 04/04/2007
798	Application to charter First American Bank, National Association, Hudson, Wisconsin (Control Number 2007 CE 01 001), 04/05/2007
799	Application to establish a new national bank with the title of "Business Bank of Texas, National Association," Austin, Texas (Control Number 2006 SO 01 0025), 04/05/2007
800	Application by TD Banknorth, N.A., Portland, Maine for 1) prior confirmation by the OCC to have qualify as Tier 1 capital minority interests created as a result of the sale of Exchangable Non-Cumulative Perpetual Series A Preferred Stock of $500 million and 2) payment of a dividend exceeding the limits of 12 U.S.C. 60 (Control Number 2007 NE 12 0066), 04/062007
801	Application to establish a de novo charter with the title of "Chain Bridge Bank, National Association," McLean, Virginia (Control Number 2006 NE 01 0026), 04/11/2007
802	Application to establish a new national bank with the title of "Bank of Manhattan, National Association," El Segundo, California (Control Number 2006 WE 01 0024), 04/16/2007
803	Request to amend the articles of association of AMG National Trust Bank, Englewood, Colorado (Control Number 2005 WE 12 0190), 04/26/2007

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2007-46, 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 April 15, 2007 through May 14, 2007.

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 $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.