88-7

88-7
December 21, 1988

Dear Mr. ________:
This is in reply to your letter of November 8, 1988, requesting consent for ________ to release copies of our reports of examination of the Bank to the Internal Revenue Service .
The copies of our reports of examination which we have sent to the Bank are strictly confidential, and the copies remain the property of the State Banking Department. These rules are set forth prominently on the facing page of the copy of each report of examination which is sent to the Bank.
Our policy is to maintain the confidentiality of the reports of our examinations. Accordingly, we are not prepared to grant consent for the Bank to turn over to the Internal Revenue Service the copies of the reports of our examinations which the Bank holds.
We regret that we are not in a position to grant the Bank’s request, but we trust you will understand that our policy of maintaining the confidentiality of the reports of our examinations serves both the Bank’s interest and the public interest.
Very truly yours,
HOWARD GOULD
Superintendent of Banks
By
JAMES F. CARRIG
Chief Counsel
JFC:idk