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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

12 CFR Part 25

[Docket No. 97-04]
RIN 1557-AB50

FEDERAL RESERVE SYSTEM

12 CFR Part 208 and 211

[Regulations H and K; Docket No. R-0962]

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 369

RIN 3064-AB97

Prohibition Against Use of Interstate Branches Primarily for Deposit Production

AGENCIES:Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC).

ACTION:Joint notice of proposed rulemaking.

SUMMARY: The OCC, Board, and FDIC (collectively, agencies) propose to adopt uniform regulations to implement section 109 (section 109) of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act). 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 the credit needs of the communities served by the interstate branches.

DATES: Comments must be received on or before May 2, 1997.

ADDRESSES:

OCC: Comments should be directed to Docket No. 97-04, Communications Division, First Floor, Office of the Comptroller of the Currency, 250 E Street, SW, Washington, DC, 20219. Comments will be .available for inspection and photocopying at that address. In addition, comments may be sent by facsimile transmission to FAX number (202) 874-5274, or by electronic mail to REGS.COMMENTS@OCC.TREAS.GOV.

Board: Comments should refer to Docket No. R-0962, and may be mailed to William W. Wiles, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, NW, Washington, DC, 20551. Comments also may be delivered to the Board's mail room between 8:45 and 5:15 p.m. on weekdays, and to the security control room at all other times. The mail room and the security control room are accessible from the courtyard entrance on 20th Street between Constitution Avenue and C Street, N.W. Comments may be inspected in Room MP-500 of the Martin Building between 9:00 a.m. and 5:00 p.m. weekdays, except as provided in 12 CFR 261.8 of the Board's Rules Regarding Availability of Information.

FDIC: Written comments should be directed to Jerry L. Langley, Executive Secretary, Attention: Room F--400, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. Comments may be hand delivered to Room F--400, 1776 F Street NW, Washington, DC 20429 on business days between 8:30 a.m. and 5 p.m. (Fax number (202) 898-3838; Internet address: comments@fdic.gov). Comments will be available for inspection and photocopying in Room 7118, 550 17th Street, NW, Washington, DC 20429, between 9 a.m. and 4:30 p.m. on business days.

FOR FURTHER INFORMATION CONTACT:

OCC: Neil M. Robinson, Senior Attorney, or Kevin L. Lee, Senior Attorney, Community & Consumer Law Division (202) 874-5750; or Andrew T. Gutierrez, Attorney, Legislative and Regulatory Activities Division (202) 874-5090.

Board: Diane Koonjy, Senior Attorney, (202) 452-3274, Lawranne Stewart, Senior Attorney, (202) 452-3513, or, with respect to foreign banks, Christopher Clubb, Senior Attorney, (202) 452-3778, Legal Division; or Shawn McNulty, Assistant Director, (202) 452-3946, Division of Consumer and Community Affairs.

FDIC: Louise Kotoshirodo, Review Examiner, Division of Consumer Affairs (202) 942-3599; Doris L. Marsh, Examination Specialist, Division of Supervision (202) 898-8905; or Gladys Cruz Gallagher, Counsel, Legal Division (202) 898-3833.

Summary and proposed rule (53 KB PDF)

1997 Banking and consumer regulatory policy


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Last update: March 12, 1997 1:00 PM