OCC 95-52
Subject:  Retail Sales of Nondeposit              Description:  Clarification of 
          Investment Products                          Interagency Guidelines

TO:  Chief Executive Officers of all National Banks and all
Examining Personnel

On February 15, 1994, the Office of the Comptroller of the
Currency, the Federal Deposit Insurance Corporation, the Federal
Reserve Board, and the Office of Thrift Supervision issued an
interagency statement on retail sales of nondeposit investment
products.  Since that time, banking trade associations and
individual depository institutions have raised questions about
several areas in the interagency statement, including the
requirements for disclosure to customers.

In response to these questions, on September 12, 1995, the four
agencies signed two documents to clarify several points in the
interagency statement.  The first document deals with disclosure
issues raised by several organizations, including the Consumer
Bankers Association.  The second responds to questions posed by
the American Bankers Association.  Copies of the two documents
are attached.

For further information, please contact the Office of the Chief
National Bank Examiner, Capital Markets, (202) 874-5070.




_______________________________
David P. Apgar
Senior Policy Advisor


Attachments: (Attachment Unavailable Electronically)
Date:     September 22, 1995