Alert 2006-67
ALERT

    Subject:  Unauthorized Banking
Description:  Pacific Savings Bank, Ltd., Republic of 
              Palau, License Revocation

       Date:  November 17, 2006

TO:  Chief Executive Officers of All National Banks; All
     State Banking Authorities; Chairman, Board of 
     Governors of the Federal Reserve System; Chairman,
     Federal Deposit Insurance Corporation; Conference 
     of State Bank Supervisors; Deputy Comptrollers 
     (districts); Assistant Deputy Comptrollers; 
     District Counsel and Examining Personnel

RE:  Revocation of the banking license of Pacific 
     Savings Bank, Ltd.	NECO Plaza, PO Box 399 Koror, 
     Republic of Palau   96940

The Financial Institutions Commission, Republic of 
Palau, has advised the Office of the Comptroller of the
Currency that it revoked the banking license of Pacific
Savings Bank, Ltd. (Pacific) and placed the bank into 
receivership on November 7, 2006.  Mr. Kaleb Udui Jr.
was appointed as the receiver for Pacific by the 
Commission.  

Any information or questions that you may have 
concerning this matter should be brought to the 
attention of the Financial Institutions Commission at:

      Mail:  G. Semdiu Decherong, Executive Commissioner
      	     Financial Institutions Commission
      	     PO Box 10243, 
      	     Koror, Republic of Palau  96940
     Phone:  (680) 488-3560  Fax: (680) 488-3564
    E-mail:  fic@palaunet.com

and of the OCC at:

    E-mail:  occalertresponses@occ.treas.gov
      Mail:  Office of the Comptroller of the Currency
       	     Special Supervision Division, MS 6-4
       	     250 E Street, SW, Washington, DC   20219
       Fax:  (202) 874-5214
  Internet:  http://www.occ.treas.gov

For additional information regarding other types of 
financial fraud, please visit the OCC's anti-fraud 
resource at: http://www.occ.treas.gov/fraudresources.htm.


      /signed/
Richard C. Stearns
Director for Enforcement & Compliance