The Office of the Comptroller of the Currency (OCC) has informed us that banks have received an instrument entitled "Letter of Credit" on the Ford Motor Company. It appears the originator of this instrument is:
Robert Phillip:, Moore Junior
733 Bishop Street, #170-228
Reportedly, the purpose of the instrument is for high-yield investment trading programs and for collateral enhancement for loans. The instruments are not obligations of the Ford Motor Company and are deemed to be without financial value. A copy of one such instrument is attached.
Any information concerning these instruments should be forwarded to the FDIC's Special Activities Section, 550 17th Street, N.W., Room F-6012, Washington, D.C. 20429.
Nicholas J. Ketcha Jr.
Attachment (Attachment is a facsimile not available electronically.)
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 (800-276-6003 or (703) 562-2200).