Who must file?
Mutual holding companies and their subsidiary holding companies must provide prior notice to the Federal Reserve to amend their charters and bylaws pursuant to sections 239.14 and 239.15 for mutual holding companies, and sections 239.22 and 239.23 for subsidiary holding companies.
Publication requirements--newspaper/Federal Register
The applicant must publish a notice in the local newspaper(s) and the Federal Reserve will publish a notice in the Federal Register.
Provide a letter describing the proposed amendment to the charter/bylaws.
Processing time frames
The Federal Reserve normally acts on notices filed under sections 239.14, 239.15, 239.22, and 239.23 within 30 calendar days after receipt unless the Federal Reserve notifies the applicant that the period is being extended. Applications that require review or action by the Board are normally acted upon within 60 days after receipt unless the Federal Reserve notifies the applicant that the period is being extended.
The Board will review filings made under sections 239.14, 239.15, 239.22, and 239.23 in accordance with the respective requirements of those sections.
The proposed amendment to the charter/bylaws may be consummated immediately.