For immediate release

The Federal Reserve Board, along with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, today requested comment on a proposal to adopt uniform regulations to implement section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act). Comment is requested by May 2, 1997. As required by section 109, the proposed rule would prohibit any bank from establishing or acquiring a branch or branches outside of its home state under the Interstate Act primarily for the purpose of deposit production, and would provide guidelines for determining whether such bank is reasonably helping to meet credit needs of the communities served by the interstate branches. The interagency notice is attached.

Summary only | Summary and proposed rule (53 KB PDF)

1997 Banking and consumer regulatory policy