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| TO: |
CHIEF EXECUTIVE OFFICER |
| SUBJECT: |
Proposed Rule to Prohibit Interstate Branching Primarily for Deposit Production
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The FDIC, the Federal Reserve Board and the Office of the
Comptroller of the Currency are seeking comment on a proposed
joint rule to 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. The
proposed rule also provides guidelines ensuring that covered
interstate branches operated by an out-of-state bank are
reasonably helping to meet the credit needs of the communities
served by the branches.
The proposed rule is attached. Comments are due by May 2, 1997.
For further information, please contact Louise Kotoshirodo,
Review Examiner, Division of Compliance and Consumer Affairs, at
(202) 942-3599 or Gladys Cruz Gallagher, Counsel, Legal Division,
at (202) 898-3833.
|
Carmen J. Sullivan |
|
Director |
Attachment: Federal Register, March 17, 1997, pp 12730-12738
Distribution: FDIC-Supervised Banks (Commercial and Savings)
Note: Paper copies of FDIC financial institution letters may be
obtained through the FDIC's Public Information Center, 801 17th
St., N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or
(703) 562-2200).
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