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 Publishes Phase 2 of Technical Package on Reporting Framework 2.10
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
FASB Proposes to Delay Implementation of Insurance Contracts Standard
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB Set Out Recommendations for Benchmark Transition
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS Sets Out Recommendations for Benchmark Transition for Insurers
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA Updates Reporting Manual on European Single Electronic Format
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).
EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis
EBA published a statement on resolution planning in light of the COVID-19 pandemic.
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework
ECB Guideline on Materiality Threshold for Credit Obligations Past Due
ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.
FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act
FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.
