WASHINGTON—The Office of the Comptroller of the Currency (OCC) today requested comment on a proposal to update its rules for business combinations involving national banks and federal savings associations. The proposal also includes a policy statement to clarify the OCC’s review of applications under the Bank Merger Act (BMA).
The proposed rulemaking is part of the OCC’s effort to enhance transparency around its process of reviewing transactions under the BMA. It would also serve to provide additional guidance to stakeholders around the OCC’s review of applications. The proposed policy statement specifically would discuss:
- General principles for the OCC’s review of applications under the BMA, including indicators for applications likely consistent with approval and applications that raise supervisory or regulatory concerns;
- The OCC’s consideration of the financial stability; managerial and financial resources and future prospects; and convenience and needs statutory factors under the BMA;
- The OCC’s decision process for extending the public comment period or holding a public meeting.
“This notice of proposed rulemaking follows the OCC’s comprehensive review of bank merger policy and regulations that included a public Symposium on Bank Mergers in February 2023,” said Acting Comptroller Michael J. Hsu. “The OCC continues to work with our interagency peers to update our analytical frameworks to best improve bank merger outcomes to benefit communities, enhance competition, and support a diverse banking system and looks forward to reviewing comments on the proposal.”
Comments from the public are due 60 days from the date of publication in the Federal Register.