ALERT 97-12

Type: Suspicious Transactions    Subject: Certified Bankers Note


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); District Administrators; District
     Counsel and Examining Personnel.


RE:  Certified Bankers Note

Information is being received that banks are receiving an
instrument titled Certified Bankers Note.  These instruments
indicate Special Private Funds; Treasurer and Comptroller of the
Currency Co-Assign.  The drawer of these instruments is shown as
Arvey D. Drown, trustee.  Please be advised that such instruments
are deemed to be without financial value; see attached copy of
one of such instruments.  Previous Alerts 95-33, dated September
8, 1995, 95-44, dated November 20, 1995,  96-3, dated February 8,
1996, 96-13 dated May 23, 1996, 96-29 and 96-30 dated August 27,
1996, have been issued relative to a variant of these
instruments.

Any information which you may have concerning this matter should
be brought to the attention of: 

     Office of the Comptroller of the Currency
     Enforcement & Compliance Division
     250 E Street, SW
     Washington, DC  202l9
     Fax (202) 874-5301


             /s/                    
Daniel P. Stipano
Director
Enforcement & Compliance Division

Attachment --  not available electronically

Dated: May 20, 1997