OCC revises licensing manual booklet; examiners booklet on OREO also updated

A booklet containing clarifications and updates to the federal bank chartering agency’s policies and processes on the establishment, operations, and other corporate activities of federally licensed offices of foreign banks was published Wednesday.

The Office of the Comptroller of the Currency (OCC) has revised and republished the “Federal Branches and Agencies” booklet of the Comptroller’s Licensing Manual, replacing the booklet of the same title issued last October, the agency said.

The revised booklet, according to OCC Bulletin 2020-80, clarifies various notice and application filing requirements and processes; updates decision factors and criteria; removes all internal licensing procedures; and makes other minor modifications throughout.

Last week, the OCC also issued an updated Comptroller’s Handbook booklet on other real estate owned (OREO), which OCC examiners use in examinations and supervision of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.

In Bulletin 2020-79, the OCC said the updated booklet replaces the booklet of the same title issued in August 2018. Also rescinded is OCC Bulletin 2018-26, “Other Real Estate Owned: Updated Comptroller’s Handbook Booklet.”

The updated booklet:

  • reflects recent changes to 12 CFR 34, subpart E, including changes to holding period requirements for federal savings associations;
  • reflects changes to other regulations that occurred since August 2018;
  • reflects changes to OCC issuances published and rescinded since August 2018;
  • clarifies applicability of certain requirements to covered savings associations;
  • includes clarifying edits regarding supervisory guidance, sound risk management practices, or legal language;
  • revises certain content for general clarity.

OCC Bulletin 2020-80 (Licensing manual booklet revisions)

OCC Bulletin 2020-79 (OREO exam booklet updates)

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