Transition rule for savings associations acquiring banks

Official source

(A) In general If, under section 5(d)(3) of the Federal Deposit Insurance Act [ 12 U.S.C. 1815(d)(3) ], 1 a savings association acquires all or substantially all of the assets of a bank, the appropriate Federal banking agency may permit the savings association to retain any such asset during the 2-year period beginning on the date of the acquisition.

(B) Extension The appropriate Federal banking agency may extend the 2-year period described in subparagraph (A) for not more than 1 year at a time and not more than 2 years in the aggregate, if the appropriate Federal banking agency determines that the extension is consistent with the purposes of this chapter.

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Transition rule for savings associations acquiring banks

Official source

(A) In general If, under section 5(d)(3) of the Federal Deposit Insurance Act [ 12 U.S.C. 1815(d)(3) ], 1 a savings association acquires all or substantially all of the assets of a bank, the appropriate Federal banking agency may permit the savings association to retain any such asset during the 2-year period beginning on the date of the acquisition.

(B) Extension The appropriate Federal banking agency may extend the 2-year period described in subparagraph (A) for not more than 1 year at a time and not more than 2 years in the aggregate, if the appropriate Federal banking agency determines that the extension is consistent with the purposes of this chapter.