ALERT 98-34
Type: Unauthorized Banking
Subject: First Mutual Sparkassa Ekonomisk Forening
October 19, 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

     Information has been received from the Swedish Financial
     Supervisory Authority, Finansinspektionen, relative to
     illegal activities of the subject entity and suspect
     activities of other sparkassa entities.  Please be guided
     accordingly by the contents of the attachments.

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

                         Office of the Comptroller of the
                         Currency
                         Enforcement & Compliance Division
                         250 E Street, SW
                         Fax (202) 874-5301 
                         Washington, DC   20219



                                                  
Daniel P. Stipano
Director
Enforcement & Compliance Division                                 
   

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