ALERT 98 - 15
Type:   Suspicious Transactions
Subject:  Banca Populara Ardealul
Date:     April 21, 1998

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


RE:  Banca Populara Ardealul
     Bistrita, Romania

Information has been received that the subject entity has issued
$650 million (U.S.) face value check form instruments.  Further,
the subject entity has not been authorized by the government of
Romania to conduct a banking business.  Extreme caution is
advised relative to any involvement with these instruments.

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


                    Office of the Comptroller of the Currency
                    Enforcement & Compliance Division
                    250 E Street, SW
                    Washington, DC  202l9
                    Fax (202) 874-5301



                                       
Daniel P. Stipano
Director
Enforcement & Compliance Division

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