Transactions not requiring Board approval.

CFR · 2024-01-01 · US · Title 12

The following transactions do (a) (1) The acquiring bank or other company has sole discretionary authority to vote the securities and retains this authority for more than two years; or (2) The acquisition is for the benefit of the acquiring bank or other company, or its shareholders, employees, or subsidiaries. (b) (c) (d) (i) The merger of a nonsubsidiary bank and a nonoperating subsidiary bank formed by a company for the purpose of acquiring the nonsubsidiary bank; or (ii) Any transaction requiring the Board's prior approval under § 225.11(e) of this subpart. The Board may require an application under this subpart if it determines that the merger or consolidation would have a significant adverse impact on the financial condition of the bank holding company, or otherwise requires approval under section 3 of the BHC Act. (2) (i) The bank merger, consolidation, or asset purchase occurs simultaneously with the acquisition of the shares of the bank or bank holding company or the merger of holding companies, and the bank is not operated by the acquiring bank holding company as a separate entity other than as the survivor of the merger, consolidation, or asset purchase; (ii) The transaction requires the prior approval of a federal supervisory agency under the Bank Merger Act (12 U.S.C. 1828(c)); (iii) The transaction does not involve the acquisition of any nonbank company that would require prior approval under section 4 of the BHC Act (12 U.S.C. 1843); (iv) Both before and after

official document · source cfr-2024 · id 12:§ 225.12