For Release on October 8, 1996

NR 96-113
October 7, 1996

            Bank Supervisors From 140 Nations Endorse
           Report Calling for Strengthened Oversight of
                   Internationally Active Banks
                                 
WASHINGTON, D.C. -- Bank supervisors from 140 countries endorsed
a report issued today by the Basle Committee that advocates
strengthening the ability of home-country supervisors to obtain
the information they need to supervise the overseas operations of
their international banking groups.  

Comptroller of the Currency Eugene A. Ludwig called the report "a
welcome development for U.S. supervisors.  It's a clear signal
that the Basle Committee is making tangible progress in
satisfying the mandate of the Lyon Summit for better cooperation
among the authorities responsible for the supervision of
internationally-active financial institutions."  The Lyon Summit
was held in June 1996 and involved the heads of state of the G-7
nations.

The report, The Supervision of Cross-Border Banking, was drafted
by a working group that included a representative of the Office
of the Comptroller of the Currency.  The report calls upon host
country supervisors to eliminate impediments to access by home-country supervisors to overseas operations of their banks. 
Elimination of these impediments would assist U.S. supervisors in
their efforts to gain better access to overseas banks that they
supervise.

The report can be obtained from the web site of the Bank of
International Settlements at http://www.bis.org.

                             # # #
                                
The OCC charters, regulates and supervises approximately 2,800 national banks
and 66 federal branches and agencies of foreign banks in the U.S., accounting
for more than half the nation's banking assets.  Its mission is to ensure a
safe, sound and competitive national banking system that supports the
citizens, communities and economy of the United States.