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Corporate Applications:
November 2007

Vol. 20, No. 11

IN THIS ISSUE:

Interpretive Letters

Letter No. Topic
1089 Letter concludes that it is permissible for the bank to engage in property index derivative transactions on regularly produced broad-based property indices that use appraisal- and sales-based data on foreign and domestic commercial and residential real estate. Before the bank may engage in these 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. 10/15/2007
1090 Letter confirms that the bank may purchase and hold the following securities to hedge bank permissible equity derivative transactions: common and preferred stock, convertible and exchangeable securities, master limited partnership interests, limited partnership interests, limited liability corporation interests, depositary receipts (including American and Global), closed- and open-end mutual funds, exchange traded funds, and certain real estate investment trusts. Before the bank may engage in physical hedges involving these equity securities for which it has not received a supervisory no-objection, the bank must notify its examiner-in-charge ("EIC"), in writing, and must receive written notification of the EIC's supervisory no-objection. 10/25/2007

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2007-126, 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 October 15, 2007 through November 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.