Regulatory Alerts2026-05-15 | Corporate Decision 1376Added
Corporate Decision 1376 — Application by Banco Daycoval, S.A., São Paolo, Brazil, to establish a federal branch
The Office of the Comptroller of the Currency grants preliminary conditional approval for Banco Daycoval, S.A. to establish an initial federal branch in Aventura, Florida, named “Banco Daycoval SA (Miami Branch)”. The branch must maintain a capital equivalency deposit in an unaffiliated United States member bank and is prohibited from exercising fiduciary powers. Approval is subject to conditions requiring information disclosure, consent to U.S. jurisdiction, and prior OCC notice for significant operational changes during the first three years of operation. Final approval is contingent upon opening within eighteen months, maintaining adequate fidelity insurance, and completing specific procedural requirements before commencing business.