OCC 2001-33
OCC Bulletin
Subject: Fiduciary Activities of National Banks
Description: Final Rule
Date: July 6, 2001

TO:	Chief Executive Officers of All National Banks, 
Federal Branches and Agencies, Department and Division 
Heads, and All Examining Personnel

The Office of the Comptroller of the Currency (OCC) 
published the attached final rule in the Federal 
Register on July 2, 2001, amending parts 5 and 9 of its 
regulations regarding the authority and standards for 
national banks to conduct multi-state trust operations.  
The final rule will become effective on August 1, 2001.

The purpose of the rulemaking is to provide clarity and 
certainty for national banks' multi-state fiduciary 
activities.  As provided for in the final rule, a 
national bank authorized to engage in fiduciary 
activities may act in a fiduciary capacity in any state 
that permits its own in-state fiduciaries to act in that 
capacity, including at trust offices.  In addition, a 
national bank that acts in a fiduciary capacity in one 
state may market its fiduciary services to, solicit 
business from, and act as fiduciary for customers located
in other states.  This rulemaking codifies conclusions 
reached by the OCC in three previously issued 
Interpretive Letters.

For further information, contact Lisa Lintecum, director,
or Joel Miller, senior advisor, Asset Management, 
(202) 874-4447; Richard Cleva, senior counsel, Bank 
Activities and Structure, (202) 874-5300; Andra Shuster, 
counsel, Legislative and Regulatory Activities Division, 
(202) 874-5090; or William Dehnke, assistant director, 
Securities and Corporate Practices Division, 
(202) 874-5210.



							
Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel




Attachment -- 66 FR 34792