Regulatory Alerts2025-02-13 | Supervisory Condition Letter 2025-03Added
Supervisory Condition Letter 2025-03 — OCC Letter to Banco Santander, S.A. Request to Exclude Liabilities from Repurchase Agreements from the Capital Equivalency Deposit Calculation of Banco Santander, S.A., New York Branch
The Office of the Comptroller of the Currency approves Banco Santander, S.A.'s request to exclude liabilities from repurchase agreements collateralized by U.S. Treasury and U.S. Agency securities from the capital equivalency deposit calculation of its New York Branch. This exclusion is subject to conditions requiring the branch to maintain ROCA and asset quality ratings of 1 or 2, not be subject to formal enforcement actions, and ensure excluded liabilities do not exceed 20 percent of third-party liabilities. The approval may be rescinded or suspended if these conditions are not met or if provided information is inaccurate, requiring the branch to recalculate its capital equivalency deposit accordingly.
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