In re Subpoena Duces Tecum Served on the Office of the Comptroller of the Currency

SILBERMAN, Circuit Judge:

The Trustee in Bankruptcy for the Bank of New England Corporation appeals from the district court’s refusal to enforce subpoenas duces tecum against the Federal Reserve Board and the Comptroller of the Currency. We reverse, holding that the deliberative process privilege does not protect these documents, and remand to the district court.

I

The Bank of New England Corporation and its subsidiary, the Bank of New England, N.A., experienced serious financial trouble in the late eighties and came under the heightened supervision of the Federal Reserve Board, which regulates…