March 25, 2019

OCC issued a bulletin on its expectations about disclosure of non-public OCC information and includes a listing of alternative sources of publicly available bank information. OCC notified all national banks and federal savings associations that they are prohibited by regulation from disclosing non-public OCC information. This information may not be disclosed without the prior written permission of OCC, except in very limited circumstances. The bulletin applies to all banks, including community banks.

The unauthorized disclosure or use of non-public OCC information without the express permission of OCC may be subject to criminal penalties under federal law. The circumstances for release of non-public OCC information may include disclosure to a parent holding company, director, officer, attorney, auditor, or other specified third party, to the extent consistent with the OCC regulations. Non-public OCC information includes the following:

  • OCC reports of examination, including CAMELS ratings
  • Supervisory correspondence
  • Bank responses to supervisory correspondence
  • Investigatory files
  • Certain enforcement-related information, including matters requiring attention
  • Confidential bank information
  • Other OCC records created or obtained in connection with OCC supervision, licensing, regulation, or examination that are not required to be made available under the Freedom of Information Act, 5 USC 552, or that the OCC has not yet published or made publicly available (refer to 12 CFR 4.32(b)(1))

A bank that receives a request for non-public supervisory information may choose to refer all requesters to the following publicly available information:

  • Quarterly reports of condition (call reports) (12 USC 1817)
  • For holding companies or foreign banks with U.S. operations, an institution’s quarterly and annual FR Y or H-(b)11 reports (12 USC 602, 625, and 1844(c))
  • The bank’s Uniform Bank Performance Report, which is available to all interested parties from FFIEC and is designed to provide a summary and in-depth analysis of banks
  • A bank’s publicly available filings, if any, filed with OCC or with SEC
  • Any reports or ratings on the bank, which are compiled by private companies that track the performance of financial institutions
  • Any reports or ratings issued by private rating services on public debt issued by a bank
  • Any publicly available cease and desist order or enforcement proceeding against a bank
  • Information on enforcement actions taken by other federal agencies, such as SEC, the Financial Crimes Enforcement Network, and the U.S. Department of Justice, as well as foreign authorities, may also be publicly available.
  • Any reports or other sources of information created by the bank on bank performance or internal matters that do not contain information prohibited from release by law or regulation

 

Related Link: OCC Bulletin

 

Keywords: Americas, US, Banking, Non-Public Information, Confidentiality, Disclosure, CAMELS Rating, OCC

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