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Collective Investment Funds: Prior Notice Period for Withdrawals

banking-occ · OCC · Rule · Published 2021-05-26 · Effective 2021-05-26 · 86 FR 28238

Document

Document number
2021-11130
Federal Register citation
86 FR 28238
CFR reference
12 CFR 9
Type
Rule
Action
Final rule.
Category
banking-occ
Sub-agency
OCC
Publication date
2021-05-26
Effective date
2021-05-26
Treasury docket
Docket ID OCC-2020-0031

Abstract

The OCC is adopting as final, with one minor change, the interim final rule published in the Federal Register on August 13, 2020, that codifies and creates an exception to the standard withdrawal period for a bank administering a collective investment fund invested primarily in real estate or other assets that are not readily marketable (a covered CIF). Pursuant to the interim final rule, a bank administering a covered CIF may request OCC approval to extend the standard withdrawal period under limited circumstances and if certain conditions are met. The final rule adopts as final the changes made by the interim final rule and introduces a minor revision to one of the conditions necessary for the extension.

Source

Authoritative
Federal Register document
Machine
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