ALERT 97-20
Type: Suspicious Transactions          Subject: Letter of Credit

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 Counsel and Examining
     Personnel

Information is being received that banks are receiving an
instrument titled Letter of Credit on the Ford Motor Company. 
Further, it appears that the originator of this instrument is:

          Robert Phillips:, Moore, Junior
          733 Bishop Street, # 170-228
          Honolulu, Hawaii

The purpose of these instruments reportedly are for high yield
investment trading programs and for collateral enhancement for
loans.  These instruments are not obligations of the Ford Motor
Company and are deemed to be without financial value.  A copy of
one such instrument is attached.

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



                                 
Daniel P. Stipano
Director
Enforcement & Compliance Division
Date:  August 27, 1997
Attachment not available electronically.