Formations, Acquisitions, and Mergers of Bank Holding Companies
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This law outlines the process for bank holding companies in the U.S. to apply for approval to become a bank holding company or to acquire assets and shares of banks. It specifies the requirements under the Bank Holding Company Act of 1956 and related regulations. Interested parties can comment on these applications, and their feedback will be publicly disclosed.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Public comments on applications are required and subject to disclosure.
- Comments may not include confidential information.
- Applications can be submitted to specified Federal Reserve Banks for review.
Obligations
What this law requires
Bank holding company applicants must submit applications to the Federal Reserve Board for approval pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) and Regulation Y (12 CFR part 225) before becoming a bank holding company or acquiring bank assets or shares.
Applicants must make public portions of their applications and related filings available for immediate inspection at the indicated Federal Reserve Bank offices and Board of Governors offices.
The Federal Reserve Board must disclose all comments received from interested persons regarding bank holding company applications to the public without modification.
Interested persons may submit written comments on applications based on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)), and such comments must be received by the applicable Federal Reserve Bank or Board of Governors by May 8, 2026.
Commenters must not include confidential information, personal identifying information, or other data inappropriate for public disclosure in their comments, as all comments are subject to public disclosure.