District Circular Letters
September 18, 1997
REGULATIONS H AND K:
SECTION 109 OF RIEGLE-NEAL ACT
To Member Banks, Bank Holding Companies,
U.S. Branches and Agencies
of Foreign Banks, and Others Concerned
in the Twelfth Federal Reserve District
Final Rule Regarding Establishment of Acquisition of Branches (Docket
R-0962)
The Federal Reserve Board, along with the Office of the Comptroller of
the Currency and the Federal Deposit Insurance Corporation, has issued
a final rule that adopts uniform regulations implementing section 109
of the Riegle-Neal Interstate Banking and Branching Efficiency Act of
1994 (Interstate Act).
The rule is effective October 10, 1997.
As required by section 109, the final rule
- prohibits any bank from establishing or acquiring a branch or branches
outside of its home state under the Interstate Act primarily for the
purpose of deposit production; and
- provides guidelines for determining whether such a bank is reasonably
helping to meet the credit needs of the communities served by the interstate
branches.
Copies
Copies of the Board's notice (Docket R-0962)
are available from our Corporate Services Department. To request copies
to be sent via mail, please call (415) 974-2748. To request copies to
be sent via fax, please call (415) 974-3333, and specify document number
4154.
Additional Information
For additional information regarding Regulations H and K, please contact
our Banking Supervision and Regulation Department, at (415) 974-3007.
FEDERAL RESERVE BANK OF SAN FRANCISCO
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