Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company
Description
Under the Bank Holding Company Act, submission of this application is required for any company organized under the laws of a foreign country seeking to acquire a U.S. subsidiary bank or bank holding company. Applicants must provide financial and managerial information, discuss the competitive effects of the proposed transaction, and discuss how the proposed transaction would enhance the convenience and needs of the community to be served. The Federal Reserve uses the information, in part, to fulfill its supervisory responsibilities with respect to foreign banking organizations in the United States.
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Tags
- mergers-and-acquisitions
- data-resource
- companies
- financial-services
- bank-holding-companies-bhc
- financial-institutions
- foreign-banking-organizations-fbo