Federal Deposit Insurance Corporation February 15, 2008 – Federal Register Recent Federal Regulation Documents

The FDIC is amending its Statement of Policy on Bank Merger Transactions (``Statement of Policy'') in order to conform it to the Bank Merger Act, as amended by the Financial Services Regulatory Relief Act of 2006 (``FSRRA''). The FSRRA (i) eliminated the need for the FDIC to obtain a competitive factors report from the other three Federal banking agencies in processing a merger application and (ii) eliminated both the post-approval waiting period and the need to obtain any competitive factors reports, when the merger solely involves an insured depository institution and one or more affiliates. In addition, the FDIC is amending its Statement of Policy in order to remove any discussion of ``Oakar Transactions'' since the Federal Deposit Insurance Reform Act of 2005 consolidated the former Savings Association Insurance Fund (``SAIF'') and the former Bank Insurance Fund (``BIF'') into the Deposit Insurance Fund. Finally, the FDIC is amending its Statement of Policy in order to conform the description of the factors to be considered in evaluating a merger more closely to the language of the Bank Merger Act, and for other technical reasons.