Notice To Members 85-46

Offshore Shell Bank Licenses Registered in Majuro, Marshall Islands — update

Published Date:

IMPORTANT

PLEASE DIRECT THIS NOTICE TO ALL SALES, COMPLIANCE AND CREDIT

TO: All NASD Members and Other Interested Persons

In Notice to Members 84-69, dated December 18, 1984, the NASD apprised the membership that the Comptroller of the Currency had issued notices concerning certain direct obligations that either may be worthless or have not been honored by a number of offshore bank licenses registered in Majuro, Marshall Islands.

This notice updates the list of names of the above referenced offshore shell bank licenses as reflected in the attached circulars.

Questions concerning this notice may be directed to I. William Fishkind, Assistant Director, Surveillance Department at (202) 728-8405.

Sincerely,

John E. Pinto, Ji.
Senior Vice President
Compliance

Attachments

BC- 171

SUPPLEMENT #24

Comptroller of the Currency

Administrator of National Banks

Type: Banking Circular

Subject: Offshore Shell Banks

TO: Chief Executive Officers of National Banks; all State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; District Deputy Comptrollers; Examining Personnel

RE: EUROPEAN OVERSEAS BANK LIMITED
P.O. Box 726
MAJURO, MARSHALL ISLANDS 96960
and
1901 Avenue of the Stars, Suite 1774
Los Angeles, California 90067

This Office has received information that the subject entity may be operating illegally in the United States. Any information which you have regarding the subject should be brought to the attention of:

Enforcement and Compliance Division (202-447-1818) Office of the Comptroller of the Currency Washington, D.C. 20219

C.T. Conover
Comptroller of the Currency

BC- 171

SUPPLEMENT #24

Comptroller of the Currency

Administrator of National Banks

Type: Banking Circular

Subject: Offshore Shell Banks

TO: Chief Executive Officers of National Banks; all State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; District Deputy Comptrollers; Examining Personnel

RE: EUROPEAN OVERSEAS BANK LIMITED
P.O. Box 726
MAJURO, MARSHALL ISLANDS 96960
and
1901 Avenue of the Stars, Suite 1774
Los Angeles, California 90067

This Office has received information that the subject entity may be operating illegally in the United States. Any information which you have regarding the subject should be brought to the attention of:

Enforcement and Compliance Division (202-447-1818) Office of the Comptroller of the Currency Washington, D.C. 20219

C.T. Conover
Comptroller of the Currency

BC- 171

Supplement #24

Comptroller of the Currency

Administrator of National Banks

Type: Banking Circular

Subject: Offshore Shell Banks

TO: Chief Executive Officers of National Banks; all State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; District Deputy Comptrollers; Examining Personnel

RE: First Colonial Bank, Ltd.
Majuro, Marshall Islands 96960

This Office has received information that certain direct obligations on the subject entity have not been honored and that this entity may be operating illegally in the United States. Any information which you may have regarding the subject should be brought to the attention of:

Enforcement and Compliance Division Office of the Comptroller of the Currency Washington, D.C. 20219

H. Joe Selby
Acting Comptroller of the Currency