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OCC Bulletin 2019-4 | January 31, 2019

Subsidiaries and Equity Investments: Updated Comptroller’s Licensing Manual Booklet


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


On January 31, 2019, the Office of the Comptroller of the Currency (OCC) issued a revised “Subsidiaries and Equity Investments” booklet of the Comptroller’s Licensing Manual. The updated version of the booklet has been expanded to provide additional guidance describing activities of federal savings associations that the OCC, or a predecessor regulator1 of federal savings associations, has determined may be performed in operating subsidiaries and service corporations, or through pass-through investments.

Note for Community Banks

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

Further Information

Please contact Karen Marcotte, Director for Licensing Activities, at (202) 649-6260.


Stephen A. Lybarger
Deputy Comptroller for Licensing

Related Link


 1 The predecessor regulators of federal savings associations were the Office of Thrift Supervision and its predecessor, the Federal Home Loan Bank Board.