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FDIC Issues Request For Information On Bank Mergers

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By Godson Umejiego, Senior Correspondent USA

The Federal Deposit Insurance Corporation (FDIC)  has sent to the Federal Register a request for information (RFI) soliciting comments regarding the application of the laws, practices, rules, regulations, guidance, and statements of policy that apply to merger transactions involving one or more insured depository institutions, including the merger between an insured depository institution and a noninsured institution.

The FDIC is interested in receiving comments regarding the effectiveness of the existing framework in meeting the requirements of section 18(c) of the Federal Deposit Insurance Act (known as the Bank Merger Act).

FDIC said: “Significant changes over the past several decades in the banking industry and financial system warrant a review of the regulatory framework. This RFI is intended to help inform the FDIC’s understanding and any potential policymaking in this area.

The FDIC encourages comments from all interested parties within 60 days of publication in the Federal Register.”

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