OCC Revises "Failure Acquisitions" Section of Comptroller's Licensing Manual

The Office of the Comptroller of the Currency ("OCC") published an updated version of the "Failure Acquisitions" booklet of the Comptroller's Licensing Manual.

The booklet outlines policies and procedures for banks and federal savings associations that wish to acquire failing insured depository institutions ("IDIs") through the bidding process of the Federal Deposit Insurance Corporation ("FDIC"). Before participating in the process, institutions must receive approval from the OCC.

The updated booklet includes information on OCC policy considerations and provides banks with guidance for considering, preparing and submitting bids to acquire failing IDIs.