Comments due on proposed FDIC policy on bank merger transactions

The FDIC has announced its Board of Directors yesterday approved a request for public comment on proposed revisions to the agency's Statement of Policy on Bank Merger Transactions.

The revised Statement of Policy (SOP) reflects legislative and other developments that have occurred since it was last amended in 2008, including the establishment of the statutory factor regarding the risk to the stability of the United States banking or financial system. The revised SOP is principles based; describes the types of applications subject to FDIC approval; addresses each statutory factor separately; and highlights other relevant matters and considerations, such as related statutes pertaining to interstate mergers, and applications from non-banks or banks that are not traditional community banks. Further, the revised SOP reflects consideration of comment letters received in response to the FDIC’s March 2022 Request for Information and Comment on Rules, Regulations, Guidance, and Statements of Policy Regarding Bank Merger Transactions.

Comments on the proposed revised Statement of Policy will be accepted for 60 days following publication in the Federal Register.

PUBLICATION AND COMMENT PERIOD UPDATE: Published at 89 FR 29222 in the 4/19/2024 Federal Register. Comments will be accepted through 6/19/2024.