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OCC Bulletin 2013-31 | November 6, 2013

Insider Activities: Comptroller's Handbook Revisions and Rescissions


Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties


The Office of the Comptroller of the Currency (OCC) issued today the “Insider Activities” booklet of the Comptroller’s Handbook. This updated booklet replaces a similarly titled booklet issued in March 2006.

This updated booklet provides guidance for examiners and bankers on how national banks and federal savings associations (collectively, banks) may legally and prudently engage in transactions with insiders. The booklet explains how to implement risk management processes that provide for the appropriate control and monitoring of insider activities. It also explains how examiners review and assess insider activities during the supervisory process.


Major updates include the following:

  • 2006 changes to Regulation O (12 CFR 215) reporting requirements.
  • Certain Dodd-Frank Wall Street Reform and Consumer Protection Act provisions, including
    • section 614 amendment to 12 USC 375b regarding the definition of “extension of credit” to include credit exposures arising from a derivative transaction (as defined in 12 USC 84(b)), repurchase agreement, reverse repurchase agreement, securities lending transaction, or securities borrowing transaction between the bank and the insider.
    • section 615 amendment to 12 USC 375 regarding “limitations on purchase of assets to insiders” (now 12 USC 1828(z)).
    • technical amendment to 12 CFR 215 to implement section 312(b)(2)(A) of Dodd-Frank. 12 CFR 215.12 states that the requirements of 12 CFR 215 apply to savings associations (and any subsidiary of a savings association) in the same manner and to the same extent as if the savings association were a member bank.
  • Insider-related statutory or regulatory requirements for federal savings associations.

Note for Community Banks

This booklet applies to all banks. In accordance with the OCC’s supervision-by-risk approach, examiners generally use the core examination procedures, which can be found in the “Community Bank Supervision” booklet of the Comptroller’s Handbook. Examiners supplement the procedures in that booklet, as appropriate, with the updated procedures detailed in the “Insider Activities” booklet.

With the issuance of this bulletin, the following publications have been rescinded:

  • OCC Bulletin 2006-48, “Revisions to 12 CFR 215 (Regulation O): Repeal of Certain Reporting Requirements” (December 20, 2006).
  • Office of Thrift Supervision Examination Handbook, section 380, “Transactions With Affiliates and Insiders”—only the “Transactions With Insiders” section starting on page 380.19, (and related appendix A and examination procedures) (February 2006).

For further information, contact John Eckert, Director, Operational Risk and Core Policy at (202) 649-7163 or, or (202) 649-6550.

John C. Lyons Jr.
Senior Deputy Comptroller and Chief National Bank Examiner

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