Regulatory Alerts2026-08-12 | Supervisory Condition Letter 2026-02Added
Supervisory Condition Letter 2026-02 — Approval of Westpac Banking Corporation New York Branch Request to Exclude Liabilities from Repurchase Agreements from Capital Equivalency Deposit Calculation
The Office of the Comptroller of the Currency approves Westpac Banking Corporation, New York Branch’s request to exclude liabilities from repurchase agreements collateralized by U.S. Treasury and U.S. Agency securities from its capital equivalency deposit calculation. This approval is subject to conditions including maintaining ROCA and asset quality ratings of 1 or 2, not being subject to formal enforcement action, and ensuring excluded liabilities do not exceed 20 percent of the Branch’s third-party liabilities. The OCC reserves the right to rescind, suspend, or modify the approval if conditions are not met or if information provided is inaccurate.
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