United States Government Printing Office printer prt distributor dst United States National Archives and Records Administration Federal Register Office author aut Government Organization text government publication eng FR Regulatory Information 1997_register executive 2010-09-24 article Rules and Regulations D09002ee180a47d9b D09002ee180a47e76 United States Part III originator org United States Government Agency or Subagency United States Federal Reserve System originator org United States Government Agency or Subagency United States Rule originator org United States Government Agency or Subagency United States Federal Reserve System originator org United States Government Agency or Subagency The Board has adopted comprehensive amendments to Regulation Y that improve the competitiveness of bank holding companies by eliminating unnecessary regulatory burden and operating restrictions, and by streamlining the application/notice process. Among other revisions, the final rule incorporates a streamlined and expedited review process for bank acquisition proposals by well-run bank holding companies with a number of modifications intended to broaden and improve public notice of bank acquisition proposals, to assure that the regulatory filing is made well within the public comment period, and to better assure that proposals reviewed under the streamlined procedures do not raise issues under the statutory factors in the Bank Holding Company Act. The final rule also implements the changes enacted in the Economic Growth and Regulatory Paperwork Reduction Act of 1996 that eliminate certain notice and approval requirements and streamline others that involve nonbanking proposals by well-run bank holding companies. The final rule also includes a reorganized and expanded regulatory list of permissible nonbanking activities and removes a number of restrictions on those activities that are outmoded, have been superseded by Board order or do not apply to insured banks that conduct the same activity. In addition, the final rule incorporates several amendments to the tying restrictions, including removal of the regulatory extension of those restrictions to bank holding companies and their nonbank subsidiaries. A number of other changes have also been included to eliminate unnecessary regulatory burden and to streamline and modernize Regulation Y, including changes to the provisions implementing the Change in Bank Control Act and section 914 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. 62 FR 9290 http://www.gpo.gov/fdsys/granule/FR-1997-02-28/97-4906 97-4906 fr28fe97-13 6210-01-P Reg. Y http://www.gpo.gov/fdsys/granule/FR-1997-02-28/97-4906/content-detail.html http://www.gpo.gov/fdsys/pkg/FR-1997-02-28/html/97-4906.htm http://www.gpo.gov/fdsys/pkg/FR-1997-02-28/pdf/97-4906.pdf 55 p. 9290 9344 62 FR 9290 Title 12 Part 225 12 CFR Part 225 Bank Holding Companies and Change in Bank Control (Regulation Y); Federal Register Vol. 62, Issue RULE 97-4906 Part III Federal Reserve System Rule FEDERAL RESERVE SYSTEM 1997-04-21 Reg. Y Docket Nos. R-0935 R-0936 6210-01-P 97-4906 Final rule.

The Board has adopted comprehensive amendments to Regulation Y that improve the competitiveness of bank holding companies by eliminating unnecessary regulatory burden and operating restrictions, and by streamlining the application/notice process. Among other revisions, the final rule incorporates a streamlined and expedited review process for bank acquisition proposals by well-run bank holding companies with a number of modifications intended to broaden and improve public notice of bank acquisition proposals, to assure that the regulatory filing is made well within the public comment period, and to better assure that proposals reviewed under the streamlined procedures do not raise issues under the statutory factors in the Bank Holding Company Act. The final rule also implements the changes enacted in the Economic Growth and Regulatory Paperwork Reduction Act of 1996 that eliminate certain notice and approval requirements and streamline others that involve nonbanking proposals by well-run bank holding companies. The final rule also includes a reorganized and expanded regulatory list of permissible nonbanking activities and removes a number of restrictions on those activities that are outmoded, have been superseded by Board order or do not apply to insured banks that conduct the same activity. In addition, the final rule incorporates several amendments to the tying restrictions, including removal of the regulatory extension of those restrictions to bank holding companies and their nonbank subsidiaries. A number of other changes have also been included to eliminate unnecessary regulatory burden and to streamline and modernize Regulation Y, including changes to the provisions implementing the Change in Bank Control Act and section 914 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

April 21, 1997. Scott G. Alvarez, Associate General Counsel (202/452-3583), Diane A. Koonjy, Senior Attorney (202/452- 3274), Thomas R. Corsi, Senior Attorney (202/452-3275), Lisa R. Chavarria, Attorney (202/452-3904), Satish M. Kini, Attorney (202/452- 3818), Gregory A. Baer, Managing Senior Counsel (202/452-3236), Legal Division; Molly Wassom, Assistant Director (202/452-2305), Sid Sussan, Assistant Director (202/452-2638), Nicholas A. Kalambokidis, Project Manager (202/452-3830), David Reilly, Supervisory Financial Analyst (202/452-5214), Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System. For the hearing impaired only, Telecommunication Device for the Deaf (TDD), Dorothea Thompson (202/452-3544), Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, NW., Washington, DC. Vol. 62, no. 40 Office of the Federal Register, National Archives and Records Administration 1997-02-28 continuing daily deposited born digital 287 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 http://www.gpo.gov/fdsys/pkg/FR-1997-02-28 P0b002ee180a47cc6 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr28fe97 http://www.gpo.gov/fdsys/pkg/FR-1997-02-28/content-detail.html http://www.gpo.gov/fdsys/pkg/FR-1997-02-28/pdf/FR-1997-02-28.pdf fdlp 9071 9347 DGPO 2010-07-15 2010-07-15 FR-1997-02-28 machine generated eng FR FR-1997-02-28 62 40