Licensing Amendments

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Office of the Comptroller of the Currency 12 CFR Parts 3, 5, 7 [Docket ID OCC-2019-0024] RIN 1557-AE71 AGENCY: Office of the Comptroller of the Currency, Treasury. ACTION: Final rule. SUMMARY: The Office of the Comptroller of the Currency (OCC) is amending its rules relating to policies and procedures for corporate activities and transactions involving national banks and Federal savings associations to update and clarify the policies and procedures, eliminate unnecessary requirements consistent with safety and soundness, and make other technical and conforming changes. DATES: The final rule is effective on January 11, 2021, except for instruction 15g which is effective on December 11, 2020. FOR FURTHER INFORMATION CONTACT: For additional information, contact Christopher Crawford, Counsel, Valerie Song, Assistant Director, Heidi M. Thomas, Special Counsel, or Rima Kundnani, Senior Attorney, Chief Counsel's Office, (202) 649-5490; or Karen Marcotte, Director for Licensing Activities, (202) 649-7297, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. For persons who are deaf or hearing impaired, TTY, (202) 649-5597. SUPPLEMENTARY INFORMATION: I. Background Twelve CFR part 5 sets forth the OCC's requirements for national banks and Federal savings associations that seek to engage in certain corporate transactions or activities. It addresses the range of an institution's existence from chartering to dissolution and include…