Updates to the branches and relocations section of the national bank regulator’s licensing manual were published Thursday, reflecting changes in the rules and making other modifications including removing references to outdated guidance.
According to the Office of the Comptroller of the Currency (OCC), the updates emanate from changes in the agency’s rules (12 CFR 5) about corporate activities and, more specifically about modifications in control of a national bank or federal savings association (FSA), including reporting of stock loans.
The Licensing Manual contains the OCC’s policies and procedures to guide a national bank or FSA in submitting a request for prior approval to establish or relocate a branch, or relocate its main or home office. The OCC said the booklet also discusses the exemption from the branch application process for certain highly rated FSAs. In addition, this booklet describes the requirements applicable to an FSA agency office.