Who must file?
An Edge corporation must submit an application for the specific consent of the Federal Reserve under section 211.5 of Regulation K to amend its articles of association.
Publication requirements--newspaper/Federal Register
The information required in Form FR K-1 must be submitted. Note that a response should be provided for all report items. Please enter “not applicable” or “N/A,” where appropriate.
Processing time frames
The Federal Reserve normally acts on an application for specific consent within 60 calendar days after receipt unless the Federal Reserve notifies the applicant that the 60-day period is being extended and states the reasons for the extension.
The Federal Reserve generally considers the impact of the proposed amendment on the Edge corporation and the overall banking organization and the permissibility of the proposed amendment under Regulation K.