By Matthew D. Rowe
December 1, 2017
The Office of the Comptroller of the Currency (“OCC”) has recently updated its “Business Combinations” booklet, which is part of the Comptroller’s Licensing Manual. The revised booklet replaces the prior version, which was issued by the OCC in December 2006. The booklet incorporates a variety of updated procedures and requirements for national banks and federal savings associations that are proposing to enter into significant combination transactions with another institution.
The booklet provides an overview of policies and decision criteria that the OCC considers when reviewing applications from banks seeking to engage in merger transactions, consolidation transactions, certain purchase and assumption transactions, and reorganization transactions. It also describes the application process, provides guidance on application requirements, and explains the circumstances under which a streamlined business combination is granted approval. Finally, the booklet lists references and links to informational resources and sample forms and documents that applicants may find useful during the filing process.
National banks and federal savings associations that are considering entering into any type of business combination transaction should consider the guidance that is included in the “Business Combinations” booklet whenever considering a potential combination transaction with another institution.
The content in the following blog posts is based upon the state of the law at the time of its original publication. As legal developments change quickly, the content in these blog posts may not remain accurate as laws change over time. None of the information contained in these publications is intended as legal advice or opinion relative to specific matters, facts, situations, or issues. You should not act upon the information in these blog posts without discussing your specific situation with legal counsel.
© 2021 Ruder Ware, L.L.S.C. Accurate reproduction with acknowledgment granted. All rights reserved.