OCC 99 39
Subject: Management Official Interlocks
Description:  Final Rule
Date: October 14, 1999

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

The attached final rule on management official interlocks was
published in the Federal Register on September 24, 1999.  The
rule is effective January 1, 2000.

The Depository Institutions Management Official Interlocks Act of
1979 (the Interlocks Act) generally prohibits bank management
officials from serving simultaneously with two unaffiliated
depository institutions or their holding companies that are
located in the same market.  However, the appropriate banking
agency may exempt otherwise prohibited interlocks in certain
instances.  Amendments to the Interlocks Act have broadened the
exemptive authority of the banking agencies and raised the asset
threshold for prohibiting interlocks between two institutions
regardless of their location.  The final rule amends the OCC's
management official interlocks regulation in 12 CFR Part 26 to
implement these recent statutory changes.

For further information, contact Sue E. Auerbach, senior
attorney, Bank Activities and Structure, (202) 874-5300; Jackie
Durham, financial analyst, Bank Organization and Structure, (202)
874-5060; or Mark Tenhundfeld, assistant director, Legislative
and Regulatory Activities, (202) 874-5090.



____________________________________
Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel

Attachment   64 FR 51673