Whether and what you must file with the FDIC depends on whether you and your proposed capital distribution fall within certain criteria.
(a) Application required. ------------------------------------------------------------------------
(1) You are not eligible for expedited Must file an application
treatment under Sec. 390.101. with the FDIC.(2) The total amount of all of your capital Must file an application
distributions (including the proposed with the FDIC.
capital distribution) for the applicable
calendar year exceeds your net income for
that year to date plus your retained net
income for the preceding two years.(3) You would not be at least adequately Must file an application
capitalized, as set forth in Sec. with the FDIC.
390.453(b)(2), following the distribution.(4) Your proposed capital distribution would Must file an application
violate a prohibition contained in any with the FDIC.
applicable statute, regulation, or agreement
between you and the FDIC, or violate a
condition imposed on you in an FDIC-approved
application or notice.------------------------------------------------------------------------
(b) Notice required. ------------------------------------------------------------------------
If you are not required to file an
application under paragraph (a) of this Then you:
(1) You would not be well capitalized, as set Must file a notice with
forth under Sec. 390.453(b)(1), following the FDIC.
the distribution.(2) Your proposed capital distribution would Must file a notice with
reduce the amount of or retire any part of the FDIC.
your common or preferred stock or retire any
part of debt instruments such as notes or
debentures included in capital under subpart
Z (other than regular payments required
under a debt instrument approved under Sec.
390.341).------------------------------------------------------------------------
(c) No prior notice required. ------------------------------------------------------------------------
------------------------------------------------------------------------If neither you nor your proposed capital Then you do not need to
distribution meet any of the criteria listed file a notice or an
in paragraphs (a) and (b) of this section. application with the
FDIC before making a
capital distribution.------------------------------------------------------------------------