Regulatory Alerts2025-09-11 | Conditional Approval 1345Added
Conditional Approval 1345 — Application by M.Y. Safra Bank, FSB, New York, New York, to convert to a national bank with the title BTG Pactual Bank, N.A
The Office of the Comptroller of the Currency conditionally approves the conversion of M.Y. Safra Bank, FSB, into BTG Pactual Bank, National Association, and grants a citizenship waiver for director Joao Marcello Dantas Leite. The approval is subject to conditions including a $410 million capital injection, an 11.0 percent tier 1 leverage ratio for three years, and prior OCC notice for significant business plan deviations. Final authorization to commence business requires meeting pre-conversion obligations such as obtaining fidelity bond coverage, Federal Reserve stock, and director qualifying shares. The approval automatically terminates if the conversion is not consummated within six months.
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