Failure Acquisitions: Revised Comptroller’s Licensing Manual Booklet

Summary

The Office of the Comptroller of the Currency (OCC) issued today the “Failure Acquisitions” booklet of the Comptroller’s Licensing Manual. This revised booklet replaces the “Failure Acquisitions” booklet issued in April 1998. The booklet sets forth the OCC’s policies and procedures for national banks and federal savings associations (collectively, banks) seeking to participate in the Federal Deposit Insurance Corporation’s (FDIC) process for resolving a failing insured depository institution (IDI).

Highlights

This revised booklet

• provides an overview of policy considerations and evaluative factors that the OCC considers when reviewing a bank’s interest in acquiring a failing IDI through the FDIC’s failure resolution process.
• provides banks with guidance when considering a bid on a failing IDI.
• outlines requirements and procedures that banks should follow when completing the process to submit a bid.
• lists references to informational resources.

Further Information

Please contact Karen Marcotte, Manager for Licensing Activities, at (202) 649-6260.
 

Stephen A. Lybarger
Deputy Comptroller for Licensing

Related Link

• “Failure Acquisitions” (PDF)