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Financial Institution Letter

Special Alert

SUBJECT: Entities That May Be Conducting Banking Operations Without Authorization

The Office of the Comptroller of the Currency has received information from the Swedish Financial Supervisory Authority, Finansinspektionen, about possible illegal activities of First Mutual Sparkassa Ekonomisk Forening and other sparkassa (savings and loan) entities. Any proposed transactions involving these entities should be viewed with extreme caution.

Finansinspektionen has issued the attached warning circular, press release and related information about the suspicious activities involving First Mutual Sparkassa Ekonomisk Forening, other Swedish sparkassas, and their Internet Web sites.

Please provide any information about these entities and any other apparent unauthorized entities to the FDIC's Special Activities Section, 550 17th Street, NW, Room F-6012, Washington, DC 20429.

Nicholas J. Ketcha Jr.

Attachments: Electronic copies of the attachments are not available

Distribution: FDIC Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Last Updated: November 16, 1998