This letter is in regard to the election of directors of this Bank to succeed Mr. Peter S. Ho, a Class A director, elected by banks in Group One, and Mr. Steven E. Bochner, a Class B director, elected by banks in Group Three, whose terms end on December 31, 2015, respectively. These elections have been duly held in accordance with the requirements of Section 4 of the Federal Reserve Act and the provisions of the circulars issued by this office dated September 2 and October 22, 2015.