OCC 2002-14
OCC Bulletin
Subject:     Parallel-Owned Banking Organizations
Description: Identification, Risks, and Licensing of 
             Parallel-Owned Banking Organizations
Date:        April 23, 2002

TO:  Chief Executive Officers of National Banks, 
     Department and Division Heads, Licensing Managers, 
     and All Examining Personnel  

The enclosed Joint Agency Statement on Parallel-Owned 
Banking Organizations discusses the characteristics of 
parallel-owned banking organizations, reviews potential 
risks associated with these banking organizations, and 
sets forth the approach of the Office of the Comptroller 
of the Currency, Board of Governors of the Federal 
Reserve System, Federal Deposit Insurance Corporation, 
and Office of Thrift Supervision to supervision of those 
risks.  It also provides information on the licensing 
process for proposals involving parallel-owned banking 
organizations.

For additional information on licensing requirements 
relating to parallel-owned banking organizations, 
interested parties should contact the OCC licensing 
manager in the district having supervisory responsibility 
for the national bank.  

Interested parties should contact the supervisory office 
in the appropriate district for information on the notice 
or other requirements.  

_____________________________	
Julie L. Williams		
First Senior Deputy Comptroller 
and Chief Counsel		

_____________________________
Jonathan L. Fiechter
Senior Deputy Comptroller for
International and Economic Affairs


Attachment
[http://occ.treas.gov/ftp/bulletin/2002-14a.pdf]