ALERT 98-26
Type: Unauthorized Banking
Subject: Basel Credit & Guaranty Bank, A.G. (Melchizedek)
Date: August 10, 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:  Basel Credit & Guaranty Bank, A.G. (Melchizedek)
     1912 S. Torrey Pines Dr.
     Las Vegas, NV   89102

Information has been received that the subject entity may be
operating a banking business in the United States without
authorization.  Further, the State of Nevada Division of
Financial Institutions has advised that the subject entity has
not been granted permission to operate in Nevada.

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   20219
                    Fax (202) 874-5301 




                                      
Daniel P. Stipano
Director
Enforcement & Compliance Division