Regulatory Alerts2026-08-14 | Corporate Decision 1386Added
Corporate Decision 1386 - Application to Charter Itaú Bank, National Association, Miami, FL
The Office of the Comptroller of the Currency (OCC) grants preliminary conditional approval for Itaú Bank, National Association (IBNA) to charter a new national bank in Miami, Florida, and to exercise fiduciary powers. This approval is contingent on IBNA maintaining a tier 1 leverage ratio of no less than 8.0 percent for its first three years, having initial paid-in capital of at least $507 million, and obtaining OCC non-objection for significant business plan deviations or senior executive/director appointments. The OCC also approves waivers for specific proposed directors regarding residency and citizenship requirements. Final approval is subject to meeting all preopening requirements and favorable actions from the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve.
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