Who must file?
Any person, as defined in 12 CFR 225.2(l) or 12 C.F.R. 238.2(j), acting directly or indirectly, or through or in concert with one or more persons, to acquire control of a state member bank, bank holding company or savings and loan holding company, unless the acquisition is exempt under 12 CFR 225.42 or 12 C.F.R. 238.42.
Publication requirements--newspaper/Federal Register
For change in control proposals, a person must publish a notice in the local newspaper(s) and the Federal Reserve will publish a notice in the Federal Register. Filers are strongly encouraged to contact the appropriate Reserve Bank to review the proposed newspaper notice prior to publication.
Provide the information required in Form FR 2081a and any required Interagency Biographical and Financial Reports (IBFR), FR 2081c. Filers are encouraged to submit IBFRs prior to the initial filing to allow for initiation of name checks and to provide fingerprints, when required. The Reserve Bank will provide instructions for completion of fingerprints. Note that a response should be provided for all report items. Please enter “not applicable” or “N/A,” where appropriate.
Processing time frames
The notice period expires 60 days after the notice is received by the Federal Reserve unless the Federal Reserve notifies the applicant that the period is being extended.
For change in control proposals, the Federal Reserve considers the factors in section 225.43(g) of Regulation Y and section 238.33(g) of Regulation LL, as applicable.
Change in control proposals may be consummated immediately, and the proposal may be consummated up to one year from the date of disposition, unless extended.