2 A

possessory or ownership interest in the particular facility, the CBCT would not seem to be a branch bank as understood by the court. A transactional fee is not the substantive equivalent of rent. The term "rent" used in context with its companion term "own" connotes payment for an interest in real or personal property, not payment for the performance of electronic bank services. For example, a bank does not pay for the services provided by a brick and mortar branch, it pays for the right to take possession of and use that building as bank premises. On the other hand, the payment of transactional fees, pursuant to the enclosed service and sharing agreements, creates no such ownership or necessary interest in the machine for the accessing bank. Only the right to receive certain electronic services is vested in the bank. Accordingly, it is clear that the facilities in question will not be “established (i.e., owned or rented) by the affiliated national bank[s]”.

Very truly yours

RICHARD V. FITZGERALD

Assistant Director

Legal Advisory Services Division