§ 25.05 Qualifying activities confirmation and illustrative list.  


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  • (a) Qualifying activities list. The OCC maintains a publicly available illustrative list at www.occ.gov of non-exhaustive examples of qualifying activities that meet, and may include activities that do not meet, the criteria in §25.04.

    (b) Confirmation of a qualifying activity. An interested party may request that the OCC confirm that an activity meets the criteria in §25.04 and is a qualifying activity in accordance with paragraph (c) of this section.

    (1) When the OCC confirms that an activity is consistent with the criteria in §25.04, the OCC will notify the requestor, publish its decision, and may add the activity to the list of activities that meet the qualifying activities criteria described in paragraph (a) of this section, incorporating any conditions imposed, if applicable.

    (2) When the OCC determines that an activity is not consistent with the criteria in §25.04, the OCC will notify the requestor, publish its decision, and may add this activity to the list of activities that do not meet the qualifying activities criteria described in §25.04.

    (c) Process. (1) An interested party may request that the OCC confirm that an activity is a qualifying activity by submitting a complete Qualifying Activity Confirmation Request Form available on www.occ.gov.

    (2) In responding to a confirmation request that an activity is consistent with the criteria in §25.04, the OCC will consider:

    (i) The information on the Qualifying Activity Confirmation Request Form;

    (ii) Whether the activity is consistent with the safe and sound operation of the bank; and

    (iii) Any other information the OCC deems relevant.

    (3) The OCC may impose conditions on its confirmation to ensure that an activity is consistent with the criteria in §25.04.

    (4) Unless notified by the OCC that it is extending the confirmation period to 90 days, an activity is confirmed as a qualifying activity if the requestor is not informed of an OCC objection within 60 days of submission of a complete Qualifying Activity Confirmation Request Form.

    (d) Modifying the qualifying activities list. In addition to updating the list in paragraph (a) of this section on a periodic basis in response to requests for confirmation described in paragraph (b) of this section, the OCC will publish the qualifying activities list no less frequently than every five years for notice and comment to determine whether the list should change. If the OCC determines that a qualifying loan or community development investment no longer meets the criteria in §25.04, that loan or community development investment will not be considered a qualifying activity for any subsequent purchasers.