Interagency Statement on Restrictions on Conversions of Troubled Banks

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On November 26, the Fed, the FDIC, and the OCC, in conjunction with the Conference of State Bank Supervisions, issued “Interagency Statement on Section 612 of the Dodd-Frank Act: Restrictions on Conversions of Troubled Banks”. The statement describes the general prohibition on charter conversions by certain insured depository institutions. Bulletin. Statement.