Entities That May Be Conducting Banking Operations
in Canada or the United States Without Authorization
The Office of the Superintendent of Financial Institutions of
Canada has published the attached "Warning Circular," which
contains an updated list of entities that are not licensed
chartered banks in Canada and are not registered representative
offices of foreign banks in Canada. This list supersedes the
list provided in FIL-77-96, dated October 3, 1996.
These entities may be operating in Canada in violation of the
Bank Act (Canada) and also may be conducting unauthorized banking
transactions in the United States. Any proposed transactions
involving these entities should be viewed with extreme caution.
We have been informed that the Bank of North America, Fort
Lauderdale, Florida, is not associated in any manner with the
Bank of North America (Canada), and that the United Security
Bank, Spokane, Washington, is not associated in any manner with
the United Security Bank Limited (Canada) listed on the attached
Any information about these entities 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.
Attachment: Office of the Superintendent of Financial
Institutions, Canada, Warning Circular No. 21.
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, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or