Regulatory Alerts2015-10-13
Examinations of Insured Depository Institutions Prior to Membership or Merger into a State Member Bank
The Federal Reserve issued this guidance to clarify the criteria for waiving pre-membership and pre-merger safety-and-soundness and consumer compliance examinations for insured depository institutions seeking state member bank status. Institutions may qualify for a waiver if they meet specific eligibility standards, including well-capitalized status, strong CAMELS and CRA ratings, and recent examination close dates, while mergers require the surviving state member bank to meet these criteria on a pro-forma basis. The document outlines the consultation processes for Reserve Banks, documentation requirements for waivers, and post-merger supervisory expectations, including risk assessments for larger institutions.
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