OCC 2004-16
OCC Bulletin
Subject: Annual Report on Operating Subsidiaries
Description: Notice of Proposed Rulemaking
Date: April 14, 2004

TO:  Chief Executive Officers of All National 
Banks, Federal Branches and Agencies, Department
and Division Heads, and All Examining Personnel

The attached notice of proposed rulemaking (NPRM),
which would amend 12 CFR part 5.34, the Office of
the Comptroller of the Currency's (OCC's) rule governing
activities, application, or notice requirements for national
banks engaging in activities through an operating subsidiary,
was published in the Federal Register on March 25, 2004.

The NPRM would amend part 5 to require a national bank to file
an annual report with the OCC that identifies its operating
subsidiaries that do business directly with consumers and are
not functionally regulated as defined in section 5(c)(5) of the
Bank Holding Company Act of 1956, as amended (12 USC 1844(c)(5)).
Under the proposal, a national bank would be required to provide
certain information for each of its operating subsidiaries,
including the name of the operating subsidiary, location and
contact information, and the operating subsidiary's lines of
business.  The OCC would make this information available to the
public on its Internet Web site. This information would
assist consumers in identifying national bank operating 
ubsidiaries that are subject to OCC supervisory authority.

For questions concerning this proposed rule, contact Stuart E.
Feldstein, assistant director, or Patrick T. Tierney, attorney,
Legislative and Regulatory Activities, at (202) 874-5090. 

							
Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel

Attachment - Notice of Proposed Rulemaking
http://www.occ.treas.gov/fr/fedregister/69fr15260.pdf