ALERT 95-7
Type: Suspicious Transactions                 Subject:    Guarantee Instruments

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


Information has been received that the Government of the Cook Islands issued 
a number of guarantee instruments in amounts of USD50 million and USD100 
million.  These instruments are dated between May 11, 1994 and October 24, 
1994, and indicated that they are payable to the order of Hanworth Securities 
Limited, 55 Frederick Street, Nassau, Bahamas or to Hanworth Securities 
Limited, incorporated in Western Samoa.

The Government of the Cook Islands has advised that all such instruments were 
cancelled between September 1994 and December 1994.

At this time it has not been ascertained if any such unauthorized instruments 
are in circulation.  Extreme caution is advised relative to this matter.  Any 
information which you may have concerning these instruments should be brought 
to the attention of: 


          Office of the Comptroller of the Currency
          Enforcement & Compliance Division
          250 E Street, S.W.
          Washington, D.C.  20219
          Fax (202) 874-5301




                                           
Daniel P. Stipano
Director
Enforcement & Compliance Division
Date: March 8, 1995