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
Previous Article
BDF Releases Supporting Documents for AnaCredit ReportingRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.