Subject: Suspicious Transactions
Date: August 4, 1998
Description: Grenada Letter of Guarantee Instruments
Suspicious Transactions: Grenada Letter of Guarantee Instruments
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 Examining Personnel
The Office of the Comptroller of the Currency has been informed that the government of Grenada has issued a notice dated July 22, 1998, which indicates that certain Letter of Guarantee Instruments have been cancelled and the Associated Loan Agreement has been terminated. Such instruments are the subject of OCC Alert 98-19 dated May 29, 1998.
A copy of this notice is attached. Please be guided accordingly.
Daniel P. Stipano