---
kind: "section"
citation: "12 C.F.R. § 16.8"
title: "12"
number: "16.8"
heading: "Small issues."
url: "https://uscodex.org/cfr/12/16.8"
---

# §16.8. Small issues.

- (a) The OCC will deem offers and sales of national bank or Federal savings association issued securities that satisfy the requirements of SEC Regulation A ([17 CFR part 230](/cfr/17/part230.md), Regulation A—Conditional Small Issues Exemption) to be exempt from the registration and prospectus requirements of [§ 16.3](/cfr/12/16.3.md) pursuant to [§ 16.5(d)](/cfr/12/16.5.md?p=d) of this part.
- (b) **A filer should consult the SEC's Securities Act Industry Guide 3—** Statistical Disclosure by Bank Holding Companies (17 CFR [229.801(c)](/cfr/17/229.801.md?p=c) and [231](/cfr/17/231.md)) and requirement 7 (Loans) of [Rule 9-03](/cfr/12/9-03.md) of SEC Regulation S-X ([17 CFR 230.9-03](/cfr/17/230.9-03.md)) for guidance on appropriate disclosures when preparing offering documents to be filed with the OCC pursuant to Regulation A.

## Notes

### Amendments

[59 FR 54798, Nov. 2, 1994, as amended at 82 FR 8108, Jan. 23, 2017]

### Authority

Authority: 12 U.S.C. 1 et seq., 93a, 1462a, 1463, 1464, and 5412(b)(2)(B).

### Source

Source: 59 FR 54798, Nov. 2, 1994, unless otherwise noted.

### Amendments

[59 FR 54798, Nov. 2, 1994, as amended at 82 FR 8108, Jan. 23, 2017]