Implementation of a New Process for Requesting Guidance from the Federal Reserve Regarding Bank and Nonbank Acquisitions and Other Proposals (FRB letter)

This letter outlines the Federal Reserve's new process for an applicant to request feedback on a potential acquisition or other proposal prior to the submission of a formal application or notice. The Board believes that this new process will be particularly helpful for community banking organizations that typically do not file applications on a frequent basis or for pre-filers with novel proposals. These applicants will now have the opportunity to work with Federal Reserve staff to receive critical feedback on potential issues related to acquisitions or other proposals. This new optional process, described more fully below, could shorten the review period for many formal applications.

This guidance applies to all institutions supervised by the Federal Reserve, including community banking organizations, defined as institutions supervised by the Federal Reserve with total consolidated assets of $10 billion or less.

View letter in full here (links externally to FRB website).