Merger Decisions: 2007 Annual Report to Congress

Note 2: An interim merger is a merger (other than a purchase and assumption transaction) between an operating institution and a newly-formed institution or corporation that will not open for business, which exists solely for the purpose of facilitating a corporate reorganization and would have no effect on competition. Therefore, similar to the corporate reorganization-type mergers, the October 13, 2006 amendment to the Bank Merger Act removed the requirement for the responsible agency to request a report of competitive factors from the Department of Justice when the merger transaction solely involved an insured depository institution and one or more of the affiliates of such depository institution.