Office of the Comptroller of the Currency 12 CFR Part 25
[Docket No. 97-16]
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12 CFR Parts 208 and 211 [Regulations H and K; Docket No. R-0962]
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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 final rule. SUMMARY: The OCC, Board, and FDIC (collectively, agencies) are adopting uniform regulations to implement section 109 (section 109) of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act). The final rule reflects comments received on the proposal and further internal consideration by the agencies. As required by section 109, the final rule prohibits 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 provides guidelines for determining whether such bank is reasonably helping to meet the credit needs of the communities served by these branches. EFFECTIVE DATE: October 10, 1997 FOR FURTHER INFORMATION CONTACT: OCC: Neil M. Robinson, Senior Attorney, Community & Consumer Law Division (202) 874-5750; Kevin L. Lee, Senior Attorney, Enforcement and Compliance Division (202) 874-4800; Andrew T. Gutierrez, Attorney, Legislative and Regulatory Activities Division (202) 874-5090; or with respect to Federal branches of foreign banks, Maureen Cooney, Senior Attorney, International Activities Division (202) 874-0680. Board: Lawranne Stewart, Senior Attorney, Legal Division (202) 452-3513; Robert L. McKague, Attorney, Legal Division (202) 452-2810; Shawn McNulty, Assistant Director, Division of Consumer and Community Affairs (202) 452-3946; or with respect to foreign banks, Kathleen M. O'Day, Associate General Counsel, Legal Division (202) 452-3786. 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.
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Summary and joint final rule (100 KB PDF)
1997 Banking and consumer regulatory policy