§ 390.345 - Must I file with the FDIC?

§ 390.345 Must I file with the FDIC?

Whether and what you must file with the FDIC 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 § 390.101	Must file an application with the FDIC.
(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 FDIC.
(3) You would not be at least adequately capitalized, as set forth in subpart H of part 324 of this chapter, following the distribution	Must file an application with the FDIC.
(4) Your proposed capital distribution would violate a prohibition contained in any applicable statute, regulation, or agreement between you and the FDIC, or violate a condition imposed on you in an FDIC-approved application or notice	Must file an application with the FDIC.

(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 subpart H of part 324 of this chapter, following the distribution	Must file a notice with the FDIC.
(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 under subpart H of part 324 of this chapter (other than regular payments required under a debt instrument approved under subpart H of part 324 of this chapter)	Must file a notice with the FDIC.

(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 FDIC before making a capital distribution.

[76 FR 47655, Aug. 5, 2011, as amended at 83 FR 17743, Apr. 24, 2018]