FIL-54-2014: Filing and Documentation Procedures for State Banks Engaging, Directly or Indirectly, in Activities or Investments that are Permissible for National Banks

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Financial Institution Letter

Filing and Documentation Procedures for State Banks Engaging, Directly or Indirectly, in Activities or Investments that are Permissible for National Banks FIL-54-2014
11/19/2014

Summary:

A State bank (or its subsidiary) engaging in activities or investments (Activities) permissible for a national bank (or its subsidiary) should establish and maintain files documenting that those Activities (as well as the organizational structure of the subsidiary) are permissible for a national bank (or its subsidiary). A State bank is not required to file an application or notice pursuant to Part 362 to engage in Activities that are permissible for a national bank if the bank maintains certain documentation.

Statement of Applicability to Institutions With Less Than $1 Billion in Total Assets: This Financial Institution Letter applies to all State banks.

Distribution:
FDIC-Supervised State Banks

Complete Financial Institution Letter: http://www.fdic.gov/news/news/financial/2014/fil14054.html

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