Alert 2003-13	
ALERT	

Subject:      Unauthorized Banking
Description:  First Federal Banking Corp., Republic of Palau, 
              License Revocation

Date:         October 1, 2003

TO:  Chief Executive Officers of All 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; Deputy 
     Comptrollers (districts); Assistant Deputy Comptrollers; 
     District Counsel and All Examining Personnel

RE:  Revocation of Banking License, First Federal Banking 
     Corporation, Republic of Palau

The Financial Institutions Commission, Republic of Palau, has 
advised the Office of the Comptroller of the Currency that it 
revoked First Federal Banking Corporation’s (First) banking 
license on September 26, 2003.  The Commission advised that First 
is barred from performing any banking and related financial 
activities, but has been granted 30 days from the date of license 
revocation to cease its operations. 

Any information or questions that you may have concerning this 
matter should be brought to the attention of: 

Mail:	   G. Semdiu Decherong, Executive Commissioner
	   Financial Institutions Commission
	   PO Box 10243, 
	   Koror, Republic of Palau  96940
Phone:	   (680) 488-3560  Fax: 680- 488-3564
E-mail:	   fic@palaunet.com
                        and
Mail:	   Office of the Comptroller of the Currency
	   Enforcement & Compliance Division, MS 8-10
	   250 E Street, SW, Washington, DC   20219
Fax:	   (202) 874-5301
Internet:  http://www.occ.treas.gov
E-mail:	   occalertresponses@occ.treas.gov




Brian C. McCormally
Director 
Enforcement & Compliance Division