BC - 57 (Rev.)
BANKING ISSUANCE
Comptroller of the Currency
Administrator of National Banks
Type:  Banking Circular
Subject:  Bank Holding Company Affiliates

TO:       THE PRESIDENTS OF ALL NATIONAL BANKS

SUBJECT:  Bank Holding Company Affiliates

The need for the Office of the Comptroller of the Currency and the
national bank examiners to have access to information relating to the
affairs of affiliates of national banks has long been recognized and is
embodied in Section 161 and Section 481 of Title 12 of the United States
Code. In recent years the number of bank holding Companies and the number
of national banks which are subsidiaries of bank holding companies have
increased dramatically, the result being that bank holding companies have
become a significant factor in the financial community through their
various activities and control over banks. In light of these increases,
the Comptroller of the Currency has determined that national banks which
are subsidiaries of bank holding companies should provide information to
this Office regarding the holding company affiliates.

Effective July 1, 1976, every national bank which is a subsidiary of a
bank holding company which files Annual Reports on Form 10-K with the
Securities and Exchange Commission pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 is requested to maintain one copy of the
most recent such Annual Report and one copy of the bank holding company's
most recent proxy or information Statement at the main office of the bank
for review by the national bank examiners.

James E. Smith
Comptroller of the Currency

Date: July 1, 1976