{"data":{"id":"us/12-cfr-192.515","jurisdiction":"us","citation":"12 CFR 192.515","heading":"Information to be filed with Federal banking agency prior to repurchase of shares.","body":"(a) Notice requirement. To repurchase stock in the first year following conversion, other than repurchases under § 192.510(a)(3) or (4), a savings association must file a written notice with the appropriate OCC licensing office if Federally chartered, and with the appropriate FDIC region if State-chartered. The savings association must provide the following information:\n(1) The proposed repurchase program;\n(2) The effect of the repurchases on the savings association's regulatory capital; and\n(3) The purpose of the repurchases and, if applicable, an explanation of the extraordinary circumstances necessitating the repurchases.\n(b) Filing of notice. A Federal savings association must file its notice with the appropriate OCC licensing office, and a State savings association must file its notice with the appropriate regional director of the FDIC, at least 10 calendar days before the savings association begins its repurchase program.\n(c) Agency review. A savings association may not repurchase its shares if the appropriate Federal banking agency objects to the repurchase program. The appropriate Federal banking agency will not object to a repurchase program if:\n(1) The repurchase program will not adversely affect the savings association's financial condition;\n(2) The savings association submits sufficient information to evaluate the proposed repurchases;\n(3) The savings association demonstrates extraordinary circumstances and a compelling and valid business purpose for the share repurchases; and\n(4) The repurchase program would not be contrary to other applicable regulations.","path":["Title 12—Banks and Banking","CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY","PART 192—CONVERSIONS FROM MUTUAL TO STOCK FORM","Subpart A—Standard Conversions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"63d93e18bdf19169aa7562357481fffe42352062ec09da9d377bf192bd7c8145","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-192.510","next":"us/12-cfr-192.520"},"notice":"GroundRules: Original legal text. Not legal advice."}