Summary:

The FDIC Board of Directors has proposed revisions to the Statement of Policy (revised SOP) on Bank Merger Transactions. The revised SOP is being published in the Federal Register for public comment.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions.

Highlights:

The revised SOP:

• Updates, strengthens, and clarifies the FDIC's policies and expectations related to the evaluation of bank merger transactions.
• Reflects legislative and other developments that have occurred since the current SOP was last updated in February 2008.
• Addresses evaluative considerations for each statutory factor, including the risk to the stability of the United States banking or financial system.
• Reflects consideration of comment letters submitted in response to the FDIC's March 2022 Request for Information and Comment on Rules, Regulations, Guidance, and Statements of Policy Regarding Bank Merger Transactions.
• Written comments must be received on or before 60 days after publication in Federal Register.

In a separate Federal Register notice, the FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites comment on the renewal of the existing information collected in the FDIC Supplement to the Interagency Bank Merger Act application form (OMB Control No. 3064-0015).