|
Dividend
Payments |
Any state member bank that seeks to pay
dividends in excess of net income for the calendar year combined
with retained net income from the preceding two years.
Section 208.5 of Regulation H |
None required |
A letter that includes:
1. the amount of the proposed dividend
payment;
2. the purpose or reason for the dividend
payment; and
3. the effect upon the bank’s capital
levels. |
Reserve Bank processed filings – 15 -30
days following receipt of all required information
Board processed filings – 60 days after
receipt |