| TO: |
CHIEF EXECUTIVE OFFICER
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| SUBJECT: |
Bank Guarantee Instruments
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The Federal Deposit Insurance Corporation (FDIC) has learned
that banks have received inquiries about Bank Guarantee
instruments issued by the Marshall Islands Development Bank.
A copy of one such instrument is attached. The government
of the Marshall Islands issued the attached press release
on June 27, 1996, indicating that all such instruments have
been withdrawn and voided.
Any information concerning these instruments should be forwarded to the FDIC's Special Activities Section, 550 17th Street, N.W., Room F-612, Washington, D.C. 20429. |
|
Nicholas J. Ketcha Jr.
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| Director |
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Attachment
The other attachment to this Financial Institution Letter is not currently available in electronic format. Until it is in a form that will allow us to post it to the internet, you may obtain hard copy or fax from:
FDIC
h: (703) 562-2200 Distribution: FDIC-Supervised Banks (Commercial and Savings) |
PRESS RELEASE
Majuro, June 27, 1996 - For Immediate Release
|
The Government of the Republic of the Marshall Islands
(RMI) has withdrawn the Bank Guarantees issued by the
Marshall Islands Development Bank (MIDB) from circulation
and these guarantees have been voided for all practical
purposes. If any individual or organization is approached
by someone with an attempt to sell, discount, hypothecate,
or collateralize the MIDB Bank Guarantees, they are
advised to contact the RMI Government at the following
address immediately:
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