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Effective date for OCC receivership rule


The Office of the Comptroller of the Currency (OCC) has published a final rule in today's Federal Register addressing the conduct of receiverships for national banks that are not insured by the Federal Deposit Insurance Corporation (FDIC) (uninsured banks) and for which the FDIC would not be appointed as receiver. The final rule implements the provisions of the National Bank Act (NBA) that provide the legal framework for receiverships of such institutions. The final rule adopts the rule as proposed on September 13, 2016, without change. It becomes effective on January 19, 2017. As of December 2, 2016, the OCC supervised 52 uninsured banks, all of which are national trust banks.

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