ALERT 98-23
Type: Suspicious Transactions
Subject: Grenada Letter of Guarantee Instruments
Date: August 4, 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



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
Director
Enforcement & Compliance Division                                 
   

Attachment