"Fed Allows Smaller Banks to 'Pre-File' Acquisition Applications," at
09:59 EDT, misstated the types of banks that received the guidance, in
the second paragraph. The correct version follows:
WASHINGTON--The Federal Reserve Thursday said community banks could
seek feedback on potential acquisitions before formally applying to
take over another institution, a measure meant to help companies that
don't typically file such applications.
"These applicants will now have the opportunity to work with Federal
Reserve staff to receive critical feedback on potential issues related
to acquisitions or other proposals. This new optional process...could
shorten the review period for many formal applications," the Fed said
in guidance that applies to all banks under its supervision.
The Fed said its staff would review pre-filings, which could include
business plans, presentations outlining potential proposals or other
items about which potential applicants may have questions.
Write to Jeffrey Sparshott at jeffrey.sparshott@dowjones.com.
(END) Dow Jones Newswires
July 12, 2012 17:16 ET (21:16 GMT)
No comments:
Post a Comment