The Office of the Comptroller of the Currency ("OCC") published a revised "Capital and Dividends" booklet of the Comptroller's Licensing Manual. The original booklet was issued in November 2007.
The revised booklet includes (i) requirements for a bank to change its permanent capital and pay dividends, (ii) policies and procedures for changes to permanent capital and dividend transactions, and (iii) references for banks to use during the capital and dividends process.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
