ALERT 98-19
Type: Suspicious Transactions
Subject: Letter of Guarantee Instruments
Date: May 29, 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; and
     Examining Personnel


The Office of the Comptroller of the Currency has received
inquiries regarding Letter of Guarantee instruments aggregating
$130 million (U.S.) issued by the Government of Grenada, W.I. 
The authenticity of specific instruments has been questioned. 
Accordingly, prior to accepting any such item, the actual
instrument(s) should be physically verified with the Government
of Grenada to ensure that it is an original.  A copy of one such
instrument is attached.  Please be guided accordingly.

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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