May 13, 1993

Re: ________ — Request for Authorization to Use State Banking Department Reports of Examination

Dear M ________:

This responds to your letter of March 17, 1993, to David L. Scott, Deputy Superintendent of the State Banking Department (the “Department”).

You have requested the consent of the Department to allow ________ (“________”) to deliver to ________ (the “________”) a copy of the most recent Report of Examination of ________ by the Department (the “Report”). You assert that the Report will assist the ________ and the other members of the syndicate which provides a revolving line of credit to ________ to evaluate the credit worthiness of ________. For the reasons stated in this letter, we must deny your request for such consent.

Proper regulation of the Department’s licensees requires open and honest exchanges of information between the Department and those licensees. Those exchanges of information include periodic examinations of each licensee by the Department. The information and analysis contained in our reports of such examinations are given to and developed by us in confidence for regulatory purposes, and are treated accordingly.

You propose to use the Report in the ordinary course of your business of funding loans. Such a use of the Report would be for a purpose other than that for which it was created. We will not consent the use of the Report for such a purpose.

I trust this has been responsive to your letter.

Very truly yours,

Superintendent of Banks




cc: David L. Scott
Donald L. Grigsby

bcc: J. R. Paulus
P. A. Van Hoecke
J. F. Carrig
T. M. Loughran

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