OCC Bulletin 2017-4 | January 12, 2017

Management Interlocks: Revised Comptroller’s Licensing Manual Booklet

To

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

Summary

The Office of the Comptroller of the Currency (OCC) issued today the “Management Interlocks” booklet of the Comptroller’s Licensing Manual, which replaces the booklet of the same title issued in October 2009. The revised booklet incorporates updated requirements following the integration of the Office of Thrift Supervision into the OCC in 2011 and clarifies guidance for both national banks and federal savings associations.

Note for Community Banks

This booklet applies to all national banks and federal savings associations.

Highlights

This booklet

explains when a prohibited management interlock is created.
summarizes interlock exemptions for persons and organizations.
outlines the OCC’s filing requirements for persons and organizations seeking interlock exemptions.
provides references to both national banks and federal savings associations and any requirements that may differ between the two charter types.
includes a glossary of terms, a reference section of statutes and regulations, and web links to sample filing forms.