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News Release 2016-160
December 20, 2016
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WASHNGTON—The Office of the Comptroller of the Currency (OCC) today released a final rule setting forth a framework for placing uninsured national banks into receivership.
The final rule will apply to all uninsured national banks regulated by the OCC. While the National Bank Act (NBA) and Federal Deposit Insurance Act specify the Federal Deposit Insurance Corporation as receiver for insured banks and savings associations, the NBA grants the Comptroller broad authority to appoint a receiver for uninsured national banks. The final rule will not apply to federal savings associations, all of which are insured. The final rule describes the:
The final rule will become effective on January 19, 2017.
Stephanie Collins (202) 649-6870