Determinations - Various Statutes and Regulations

The Federal Reserve System (“Federal Reserve”) has termed certain requests for approval or non-objection by the Federal Reserve as “Determinations.”  The Federal Reserve makes distinctions between Determinations that are deemed to be Supervisory-related and Determinations that are deemed to be Banking Applications-related.  Those that are deemed to be Banking Applications-related should be filed through FedEZFile. 

Who must file?

Applications-Related Determination Requests are made by a bank holding company, savings and loan holding company, mutual holding company, or state member bank.  They include:

• Branch closure, consolidation, or relocation notifications under Section 42 of the Federal Deposit Insurance Act (Note that the establishment of a branch already requires a formal application)
• Requests to extend time to dispose of debts previously contracted (“DPC”), in connection with:
  • Matters related to Regulation Y, §225.12 (b)
  • Matters related to Regulation Y, §225.22 (d)(1)
  • Matters related to Regulation Y, §225.28 (b)(2)(vii)
• Request by State Member Bank to change the general character of its business, e.g., the addition of trust powers (Section 208.3(d)(2) of Regulation H)
• Regulatory Agency request for comments from the Federal Reserve (FIRREA Section 914, Section 19 and Change in Bank Control Act)

Publication requirements--newspaper/Federal Register

No publication notice is required for most Determinations.  See citations above.

Required information

The request must be submitted in the form of a letter and include the information listed in the citations above.  Contact the appropriate Reserve Bank with any questions.

Processing time frames, Factors reviewed, and Consummation period

Processing times vary among determinations, but most commonly, the Federal Reserve acts within 30 or 60 calendar days after receipt of a request unless the Federal Reserve notifies the requestor that the processing period is being extended.  Similarly, the factors reviewed in connection with a request and any consummation period vary.  See citations above and contact the appropriate Reserve Bank with any questions.