U.S. Federal Reserve Issues Guidance on Pre-Filing Review for Bank Acquisitions and Other Proposals


The Board of Governors of the Federal Reserve System (Federal Reserve) on July 12, 2012 issued supervisory guidance, effective immediately, to enable applicants to obtain a pre-filing review of a potential bank acquisition or other proposal before the submission of a formal application or notice. The Federal Reserve expects this program to be particularly helpful for community banking organizations, which typically do not file applications or notices on a frequent basis, and for investors with novel proposals.

This program could shorten and simplify the review of many formal filings. It would also provide a mechanism for investors to obtain feedback from the staff on critical issues before committing to a formal filing, which is subject to public notice and comment.

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