Regulatory Alerts2025-11-18 | Conditional Approval 1350Added
Conditional Approval 1350 — Application to Charter Alvarez & Marsal Trust Company, National Association, Wilmington, Delaware
The Office of the Comptroller of the Currency grants preliminary conditional approval to charter Alvarez & Marsal Trust Company, National Association as an uninsured national trust bank limited to fiduciary activities. The approval requires initial paid-in capital of at least $10 million and mandates Federal Reserve Bank membership. The bank must maintain $5 million in tier 1 capital with 75% in eligible liquid assets sufficient for 180 days of operating expenses during its first three years. Final approval is contingent upon meeting pre-opening requirements, including submitting information systems architecture and establishing a security program compliant with 12 CFR 30, Appendix B.