A revised version of the “Business Combinations” booklet of the Comptroller’s Licensing Manual was announced in Bulletin 2018-22 issued Tuesday by the Office of the Comptroller of the Currency (OCC). The new, Version 1.1 of the booklet makes minor technical changes and notes one process update. It reflects a change in the public comment period calculation.
The booklet, first issued in November 2017, applies to national banks and federal savings associations. It covers mergers, consolidations and certain purchase and assumption transactions; as well as reorganizations under 12 USC 215a-2, in which a national bank becomes a subsidiary of a bank holding company (BHC).