OCC Publishes Guidelines for Requesting Approval of a Strategic Plan
OCC published the Bulletin 2019-39 to inform national banks, federal savings associations, and federal branches of foreign banking organizations (collectively banks) about the guidelines for requesting approval to be evaluated under the Community Reinvestment Act (CRA), using the strategic plan option or to request approval to amend an approved Community Reinvestment Act strategic plan. OCC also issued Bulletin 2019-40 to inform banks subject to the Community Reinvestment Act about guidelines for requesting a designation as a wholesale or limited purpose bank for Community Reinvestment Act purposes or requesting confirmation of its exemption as a special purpose bank under the Community Reinvestment Act regulations.
The guidelines summarize the OCC’s process for addressing bank requests for approval or amendment of a Community Reinvestment Act strategic plan and for designation as a wholesale or limited purpose bank for purposes of the Community Reinvestment Act, or bank requests for confirmation of its exemption from the Community Reinvestment Act as a special purpose bank, including
- Information that a bank should provide to substantiate its request
- Instructions on how to submit requests
- The OCC review and approval processes, as applicable
Bulletin 2019-40 rescinds and replaces an attachment to OCC Bulletin 1996-11, “Community Reinvestment Act: Guidelines for Requesting Designation as a Wholesale or Limited-Purpose Institution.” Bulletin 2019-39 rescinds:
- OCC Bulletin 1996-11, “Community Reinvestment Act: Guidelines for Approval for a Strategic Plan & Wholesale or Limited Purpose Institution.”
- Office of Thrift Supervision CEO Memo 268, “Strategic Plan and Wholesale/Limited Purpose Designations Under the CRA.”
Related Links
Keywords: Americas, US, Banking, Guidelines, Strategic Plan, Community Reinvestment Act, Special Purpose Bank, Bulletin 2019-39, Bulletin 2019-40, OCC
Related Articles
EBA Updates List of Validation Rules for Reporting by Banks
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS Advocates Environmental Risk Analysis for Financial Sector
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS Issues Guidelines to Promote Senior Management Accountability
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB Updates List of Supervised Entities in EU in September 2020
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management
OSFI published the key findings of a study on third-party risk management.
FSB Extends Implementation Timeline for Framework on SFTs
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.
