Definition
(c) Definition(1) In general. Except as provide in paragraph (c)(2) of this section, substantial asset change means: (i) The sale or other disposition of all, or substantially all, of the national bank's or Federal savings association's assets in a transaction or a series of transactions; (ii) After having sold or disposed of all, or substantially all, of its assets, subsequent purchases or other acquisitions or other expansions of the national bank's or Federal savings association's operations; (iii) Any other purchases, acquisitions or other expansions of operations that are part of a plan to increase the size of the national bank or Federal savings association by more than 25 percent in a one year period; (iv) Any other material increase or decrease in the size of the national bank or Federal savings association or a material alteration in the composition of the types of assets or liabilities of the national bank or Federal savings association (including the entry or exit of business lines), on a case-by-case basis, as determined by the OCC; or (v) Any change in the purpose of the charter of the national bank or Federal savings association as described in 5.20(l)(2). (2) Exceptions. The term substantial asset change does not include, and this section does not apply, to a change in composition of all, or substantially all, of a bank's or savings association's assets: (i) That the bank or savings association undertakes in response to direction from the OCC (e.g., in an enforcement action pursuant to 12 U.S.C. 1818); (ii) That is part of a voluntary liquidation under 5.48, if the bank or savings association in liquidation has obtained the OCC's non-objection to its plan of liquidation under 5.48 and has stipulated in its notice of liquidation to the OCC that its liquidation will be completed, the bank or savings association dissolved and its charter returned to the OCC within one year of the date it filed the notice of liquidation, unless the OCC extends the time period; (iii) That occurs as a result of a bank's or savings association's ordinary and ongoing business of originating and securitizing loans; or (iv) That are subject to OCC approval under another application to the OCC.