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OCC Bulletin 2002-14 | April 23, 2002

Parallel-Owned Banking Organizations: Identification, Risks, and Licensing of Parallel-Owned Banking Organizations


Chief Executive Officers of National Banks, Department and Division Heads, Licensing Managers, and All Examining Personnel

The guidance attached to this bulletin continues to apply to federal savings associations.

The enclosed Joint Agency Statement on Parallel-Owned Banking Organizations discusses the characteristics of parallel-owned banking organizations, reviews potential risks associated with these banking organizations, and sets forth the approach of the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of Thrift Supervision to supervision of those risks. It also provides information on the licensing process for proposals involving parallel-owned banking organizations.

For additional information on licensing requirements relating to parallel-owned banking organizations, interested parties should contact the OCC licensing manager in the district having supervisory responsibility for the national bank.

Interested parties should contact the supervisory office in the appropriate district for information on the notice or other requirements.

Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel

Jonathan L. Fiechter
Senior Deputy Comptroller for International and Economic Affairs

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