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OCC Bulletin 2017-30 | August 23, 2017

Substantial Asset Changes, Including Changes in Charter Purpose: New Comptroller’s Licensing Manual Booklet

To

Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties

Summary

The Office of the Comptroller of the Currency (OCC) issued today the "Substantial Asset Changes, Including Changes in Charter Purpose" booklet of the Comptroller's Licensing Manual. This is a new booklet incorporating procedures and requirements after the Office of Thrift Supervision's integration into the OCC in 2011 and the issuance of revised regulations (under 12 CFR 5) that became effective April 1, 2017. The revised regulations address substantial changes in assets and changes in charter purpose for national banks and federal savings associations (collectively, banks).

Note for Community Banks

This booklet applies to all national banks and federal savings associations.

Highlights

The "Substantial Asset Changes, Including Changes in Charter Purpose" booklet

  • provides an overview of the requirements related to a substantial asset change by banks including changes in charter purpose.
  • clarifies the applicability of 12 CFR 5.53 and 5.20(l).
  • details exceptions to filing requirements under 12 CFR 5.53.
  • lists references and links to informational resources and sample forms and documents that banks may find useful in filing applications.

Further Information

Please contact Karen Marcotte, Manager for Licensing Activities, at (202) 649-6260.

 

Stephen A. Lybarger
Deputy Comptroller for Licensing

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