Section 208.71 of Regulation H
Who must file?
A state member bank proposing to acquire control of, or interest in, a financial subsidiary or engaging in any additional activity through an existing financial subsidiary.
Publication requirements - newspaper/Federal Register
No publication notice is required.
Provide the information required in sections 208.76(b) and (c) of Regulation H.
Processing time frames
A notice will be deemed approved on the fifteenth day after receipt of a complete notice, unless prior to that date the Board or the Reserve Bank notifies the bank that the notice is approved, that the notice will require additional review, or that the bank does not meet the requirements of Subpart G of Regulation H.
The Federal Reserve considers the factors under section 208.71(a).
Consummation may take place at any time after disposition.
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