FOR IMMEDIATE RELEASE
June 1, 1998
Contact: Public Affairs
New Comptroller's Handbook Published
WASHINGTON, D.C. — The Office of the Comptroller of the Currency has issued a completely- revised manual that details procedures banks should follow for a wide range of corporate applications, such as opening new branches or offering new products and services.
The Comptroller's Corporate Manual is designed to assist the banking industry and public in determining where and how to file a corporate application, how to identify the regulatory requirements for corporate changes, and how to further their understanding of corporate filing processes and time frames. In addition, it is the primary procedural guide about corporate filings for OCC management and staff.
"The new manual not only incorporates recent changes in statutes and our regulations, but makes it easier for bankers and members of the public to use," said Julie L. Williams Acting Comptroller of the Currency. "I'm particularly pleased with some of the additions to the manual, such as the public involvement section, which clearly lays out our procedures and encourages public participation through comments on corporate applications."
This revised manual standardizes OCC processing of corporate filings and brings consistency to the record keeping and decision-making process.
The new edition of the Comptroller's Corporate Manual incorporates changes in national banking laws and regulations that have occurred since the last manual was published in early 1992. Among the changes reflected in the new manual are:
Expedited processing of other types of corporate filings from healthy, well-capitalized national banks with "outstanding" or "satisfactory" CRA ratings. For example, such banks can use expedited review procedures when establishing branches or relocating branches and main offices.
The Comptroller's Corporate Manual is being issued as a series of 24 booklets, each of which is keyed to a major corporate area. The multiple-booklet format will allow for quicker and easier updating of material as new issues emerge, giving users more rapid access to important changes.
To order a subscription of the new Comptroller's Corporate Manual, write to the Comptroller of the Currency, P.O. Box 70004, Chicago, IL, 60673-0004. Include a check for $90 payable to the Comptroller of the Currency.
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