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6.11 Interstate Mergers Prohibited where the Acquiror Would Control 10 Percent or More of U.S. Deposits

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6.11 Interstate Mergers Prohibited where the Acquiror Would Control 10 Percent or More of U.S. Deposits

 

 


6.11.   Interstate Mergers Prohibited where the Acquiror Would Control 10 Percent or More of U.S. Deposits.  In addition to the liability concentration limits discussed above, the Act amends the Bank Merger Act to provide that the appropriate Federal banking agency may not approve an interstate merger if the resulting entity would control more than 10 percent of the total amount of deposits in the U.S.  It also amends the BHC Act to provide that a BHC may not acquire a savings institution in a state other than the home state of the BHC if after the acquisition the BHC would control more than 10 percent of the total deposits of insured depository institutions in the U.S.  These prohibitions do not apply to a transaction that involves an institution in default or in danger of default or with respect to which the FDIC provides assistance under Section 13 of the FDI Act. [§623]