§ 163.143 - Must I file with the OCC?

Whether and what you must file with the OCC depends on whether you and your proposed capital distribution fall within certain criteria.

(a) Application required.

If:	Then you:
(1) You are not eligible for expedited treatment under §116.5 of this chapter	Must file an application with the OCC.
(2) The total amount of all of your capital distributions (including the proposed capital distribution) for the applicable calendar year exceeds your net income for that year to date plus your retained net income for the preceding two years	Must file an application with the OCC.
(3) You would not be at least adequately capitalized, as set forth in 12 CFR 6.4, following the distribution	Must file an application with the OCC.
(4) Your proposed capital distribution would violate a prohibition contained in any applicable statute, regulation, or agreement between you and the OCC or the OTS, or violate a condition imposed on you in an application or notice approved by the OCC or the OTS	Must file an application with the OCC.

(b) Notice required.

If you are not required to file an application under paragraph (a) of this section, but:	Then you:
(1) You would not be well capitalized, as set forth under 12 CFR 6.4, following the distribution	Must file a notice with the OCC.
(2) Your proposed capital distribution would reduce the amount of or retire any part of your common or preferred stock or retire any part of debt instruments such as notes or debentures included in capital 12 CFR part 3 or part 167, as applicable (other than regular payments required under a debt instrument approved under §163.81)	Must file a notice with the OCC.
(3) You are a subsidiary of a savings and loan holding company,	Except as provided in (d), you must file a notice with the OCC.

(c) No prior notice required.

If neither you nor your proposed capital distribution meet any of the criteria listed in paragraphs (a) and (b) of this section

Then you do not need to file a notice or an application with the OCC before making a capital distribution.

(d) Informational copy of notice required.

If you are a subsidiary of a stock savings and loan holding company that is filing a notice with the Board of Governors of the Federal Reserve System (Board) for a cash divided pursuant to 12 U.S.C. 1467a(f) and neither an application under (a), nor a notice under (b)(1) or (b)(2) is required,

Then you do not file a notice under (b)(3) but you must provide an informational copy to the OCC of the notice filed with the Board, at the same time it is filed with the Board.

[76 FR 49047, Aug. 9, 2011, as amended at 79 FR 11317, Feb. 28, 2014]