多宝游戏下载 Board of Directors Approves Final Statement of Policy on Bank Merger Transactions
WASHINGTON 鈥摱啾τ蜗废略 (多宝游戏下载) Board of Directors today approved a final Statement of Policy on Bank Merger Transactions (Final SOP). The Final SOP addresses the scope of transactions subject to 多宝游戏下载 approval, the 多宝游戏下载鈥檚 process for evaluating merger applications, and the principles that guide the 多宝游戏下载鈥檚 consideration of the applicable statutory factors as set forth in the Bank Merger Act.
鈥淭he Final Statement of Policy on Bank Merger Transactions approved today by the 多宝游戏下载 Board updates, strengthens, and clarifies the 多宝游戏下载鈥檚 approach to evaluating transactions subject to its approval under the Bank Merger Act,鈥 多宝游戏下载 Chairman Gruenberg said.
With respect to the statutory factors, the Final SOP:
- Confirms that the 多宝游戏下载鈥檚 evaluation of a merger鈥檚 competitive effects may take into account concentrations beyond deposits, including small business or residential loan originations;
- Clarifies that the proposed merger should result in less financial risk than the risk posed by the institutions on a standalone basis;
- Elaborates on the 多宝游戏下载鈥檚 expectation that a merger will enable the resulting institution to better meet the convenience and needs of the community to be served;
- Applies additional scrutiny to the evaluation of financial stability for transactions resulting in an institution with $100 billion or more in total assets; and
- Communicates the 多宝游戏下载鈥檚 expectation to hold public hearings for mergers resulting in an institution with over $50 billion in total assets.
The Final SOP supersedes the existing Statement of Policy, which was last updated in 2008. The updates approved by the 多宝游戏下载 Board today account for the significant changes that have occurred in the banking industry and financial system over the last several decades. The Final SOP refines, and in some cases, broadens the description of the analytical considerations for each statutory factor.
Additionally, it reflects changes made in consideration of the 23 comment letters submitted in response to the .