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Informational Memorandum
Subject:Unauthorized Banking & Fictitious Treasury Securities
Date of Memorandum:05/20/1997
Expiration Date:
Office:OE
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:OCC Alerts 97-6
97-8
& 97-9

May 20, 1997



To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director /s/
Office of Examination

Subject: Informational Memorandum Advising of Unauthorized Banking and Fictitious Treasury Securities


The Farm Credit Administration (FCA) is distributing copies of three recent OCC Alerts issued by the Office of the Comptroller of the Currency (OCC). These documents contain information that may prevent you or your institution from suffering a financial loss.

OCC Alerts 97-6 and 97-8 identify entities that may be operating banking businesses without authorization. OCC Alert 97-9 warns of attempts to sell Limited Edition U.S. Treasury Securities at a steep discount, includes additional information about the instrument, and advises that such instruments are fictitious. The OCC requests that it be provided any information regarding these instruments and includes an address and facsimile number.

This memorandum complements similar OCC Alerts and other information previously distributed by the FCA to Farm Credit System institutions and should be retained for reference should your institution receive information related to the fictitious instrument or the unauthorized banking business.

If you have questions regarding this document or similar previous documents, please call Jerry Erickson in the Office of Examination at (703) 883-4483.

Attachments