12-U.S.C.-5363

§5363 – Acquisitions

Pathway

Title 12 > Chapter 53 > Subchapter I > Part C > Section 5363

Details

• Reference: Section 5363
• Legend: §5363 – Acquisitions
• USCode Year: 2013

Provision Content

(a) Acquisitions of banks; treatment as a bank holding company

For purposes of section 1842 of this title, a nonbank financial company supervised by the Board of Governors shall be deemed to be, and shall be treated as, a bank holding company.

(b) Acquisition of nonbank companies

(1) Prior notice for large acquisitions

Notwithstanding section 1843(k)(6)(B) of this title, a bank holding company with total consolidated assets equal to or greater than $50,000,000,000 or a nonbank financial company supervised by the Board of Governors shall not acquire direct or indirect ownership or control of any voting shares of any company (other than an insured depository institution) that is engaged in activities described in section 1843(k) of this title having total consolidated assets of $10,000,000,000 or more, without providing written notice to the Board of Governors in advance of the transaction.

(2) Exemptions

The prior notice requirement in paragraph (1) shall not apply with regard to the acquisition of shares that would qualify for the exemptions in section 1843(c) of this title or section 1843(k)(4)(E) of this title.

(3) Notice procedures

The notice procedures set forth in section 1843(j)(1) of this title, without regard to section 1843(j)(3) of this title, shall apply to an acquisition of any company (other than an insured depository institution) by a bank holding company with total consolidated assets equal to or greater than $50,000,000,000 or a nonbank financial company supervised by the Board of Governors, as described in paragraph (1), including any such company engaged in activities described in section 1843(k) of this title.

(4) Standards for review

In addition to the standards provided in section 1843(j)(2) of this title, the Board of Governors shall consider the extent to which the proposed acquisition would result in greater or more concentrated risks to global or United States financial stability or the United States economy.

(5) Hart-Scott-Rodino filing requirement

Solely for purposes of section 18a(c)(8) of title 15, the transactions subject to the requirements of paragraph (1) shall be treated as if Board of Governors approval is not required.

(Pub. L. 111–203, title I, §163, July 21, 2010, 124 Stat. 1422.)

U.S. Encyclopedia of Law Coverage

Part C – Additional Board of Governors Authority For Certain Nonbank Financial Companies and Bank Holding Companies in the Legal Encyclopedia: Banking Law

In this entry about Part C – Additional Board of Governors Authority For Certain Nonbank Financial Companies and Bank Holding Companies, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

12-U.S.C.-5341 in the Legal Encyclopedia: Banking Reform

In this entry about 12-U.S.C.-5341, find legal reference material, bibliographies and premiere content related to banking reform in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking reform-specific issues, written by authorities in the field.

Topic Map

• Browse the Topic Map in relation with Title 12 (Banks And Banking) guided by subject interests.