FDIC Federal Register Citations

July 31, 2003

Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429

Dear Mr. Feldman:

Subject: Proposed Deposit Insurance Regulations Covering Living Trust Accounts

We agree with the FDIC's desire to reduce the level of confusion over the insurance coverage afforded living trust accounts and welcome the opportunity to provide input.

First Hawaiian Bank prefers the insurance coverage approach taken under Alternative Two.  From our perspective, there would be less of an operational effort required under this alternative since we wouldn't have to track the names of the trust beneficiaries and their various interests.

Thank you for the opportunity to submit our preference.

Very truly yours,

W.B. Johnstone, III
First Hawaiian Bank
P.O. Box 1959
Honolulu, Hawaii  96805