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FOR IMMEDIATE RELEASE
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Contact: Robert Garsson |
January 2, 2004
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(202) 874-5770
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WASHINGTON -- The Office of the Comptroller of the Currency
(OCC) today published a final rule that permits national banks to file any
class of corporate applications electronically. The OCC seeks to minimize regulatory burden and to achieve
greater efficiencies, including cost savings, through increased use of
electronic technology.
Todays final rule adopts without change an interim rule
that was effective in April. The final
rule facilitates the OCCs existing system for filing corporate applications
electronically. This e-Corp system
was announced in March and enables national banks to file four types of
corporate applications and five types of corporate notices electronically at the
present time. The OCC plans for 90 percent
of corporate applications to be able to be filed electronically in three years.
National banks are not required to file corporate
applications electronically.
The final rule is available at www.occ.treas.gov.
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The OCC charters, regulates and examines approximately
2,100 national banks and 52 federal branches of foreign banks in the U.S.,
accounting for more than 55 percent of the nations banking assets. Its
mission is to ensure a safe and sound and competitive national banking system
that supports the citizens, communities and economy of the United States.
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