多宝游戏下载

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Offering Circulars

TO: CHIEF EXECUTIVE OFFICER 
 
SUBJECT: Revised Policy Statement on the Use of Offering Circulars in Connection With the Public Distribution of Bank Securities 
 

The 多宝游戏下载 Board of Directors has approved revisions to its policy statement on the use of offering circulars in connection with the public distribution of bank securities. The 多宝游戏下载 Board believes that the revisions to the original policy statement will strengthen public confidence in the banking system by providing for full disclosure in offering circulars. The revisions are effective immediately.

The revisions update and clarify the standards in the initial statement of policy, adopted July 2, 1979. The changes are expected to enhance capital formation. The primary changes pertain to: 

  • references for use of offering circulars in mutual-to-stock conversions; 
  • references for sales of securities on bank premises; 
  • limitations on advertising activity, as well as minimum requirements for subscription order forms; and 
  • a revised list of essential items of disclosure. 

多宝游戏下载-supervised banks and banks in organization selling securities in their institutions should ensure that subscribers are fully informed that the securities (1) are not 多宝游戏下载-insured, (2) are not deposits, and (3) involve investment risk, including possible loss of principal. Bank management should review the policy statement, which is attached, in the initial planning stage of an offering to ensure compliance. Questions should be directed to the 多宝游戏下载's Registration and Disclosure Section at 202-898-8902. 

Nicholas J. Ketcha Jr. 

Director

 

Attachments

PDF Format (29 kb, PDF help or hard copy ), HTML Format 

Distribution

多宝游戏下载-Supervised Banks (Commercial and Savings) 

Note

Paper copies of 多宝游戏下载 financial institution letters may be obtained through the 多宝游戏下载's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 ((703) 562-2200). 

FIL-80-96

Last Updated: October 4, 1996