12 CFR § 192.515 - Information to be filed with Federal banking agency prior to repurchase of shares.
---
identifier: "/us/cfr/t12/s192.515"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 192.515 - Information to be filed with Federal banking agency prior to repurchase of shares."
title_number: 12
title_name: "Banks and Banking"
section_number: "192.515"
section_name: "Information to be filed with Federal banking agency prior to repurchase of shares."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "192"
part_name: "CONVERSIONS FROM MUTUAL TO STOCK FORM"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1462a, 1463, 1464, 1467a, 2901 5412(b)(2)(B); 15 U.S.C. 78c, 78, 78m, 78n, 78w."
regulatory_source: "85 FR 42643, July 14, 2020, unless otherwise noted."
cfr_part: "192"
---
# 192.515 Information to be filed with Federal banking agency prior to repurchase of shares.
(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:
(1) The proposed repurchase program;
(2) The effect of the repurchases on the savings association's regulatory capital; and
(3) The purpose of the repurchases and, if applicable, an explanation of the extraordinary circumstances necessitating the repurchases.
(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.
(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:
(1) The repurchase program will not adversely affect the savings association's financial condition;
(2) The savings association submits sufficient information to evaluate the proposed repurchases;
(3) The savings association demonstrates extraordinary circumstances and a compelling and valid business purpose for the share repurchases; and
(4) The repurchase program would not be contrary to other applicable regulations.