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12/21/2016

Regulators

OCC Approves Receivership Framework for Uninsured Banks

The Office of the Comptroller of the Currency approved a final rule establishing a framework for placing uninsured national banks into receivership. The plan includes processes for appointing a receiver, submitting claims, and paying dividends on claims. The OCC noted that while it has not appointed a receiver for an uninsured national bank in many years, clarifying the process promotes orderly resolution if required and a more stable banking system. Read the Final Rule.