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us/statute/12/1842/c — Factors for consideration by Board · Axiom

(1) Competitive factors The Board shall not approve— (A) any acquisition or merger or consolidation under this section which would result in a monopoly, or which would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States, or (B) any other proposed acquisition or merger or consolidation under this section whose effect in any section of the country may be substantially to lessen competition, or to tend to create a monopoly, or which in any other manner would be in restraint or 4 4 So in original. Probably should be “of”. trade, unless it finds that the anticompetitive effects of the proposed transaction are clearly outweighed in the public interest by the probable effect of the transaction in meeting the convenience and needs of the community to be served.

(2) Banking and community factors In every case, the Board shall take into consideration the financial and managerial resources and future prospects of the company or companies and the banks concerned, and the convenience and needs of the community to be served.

(3) Supervisory factors The Board shall disapprove any application under this section by any company if— (A) the company fails to provide the Board with adequate assurances that the company will make available to the Board such information on the operations or activities of the company, and any affiliate of the company, as the Board determines to be appropriate to determine and enforce compliance with this chapter; or (B) in the case of an application involving a foreign bank, the foreign bank is not subject to comprehensive supervision or regulation on a consolidated basis by the appropriate authorities in the bank’s home country.

(4) Treatment of certain bank stock loans Notwithstanding any other provision of law, the Board shall not follow any practice or policy in the consideration of any application for the formation of a one-bank holding company if following such practice or policy would result in the rejection of such application solely because the transaction to form such one-bank holding company involves a bank stock loan which is for a period of not more than twenty-five years. The previous sentence shall not be construed to prohibit the Board from rejecting any application solely because the other financial arrangements are considered unsatisfactory. The Board shall consider transactions involving bank stock loans for the formation of a one-bank holding company having a maturity of twelve years or more on a case by case basis and no such transaction shall be approved if the Board believes the safety or soundness of the bank may be jeopardized.

(5) Managerial resources Consideration of the managerial resources of a company or bank under paragraph (2) shall include consideration of the competence, experience, and integrity of the officers, directors, and principal shareholders of the company or bank.

(6) Money laundering In every case, the Board shall take into consideration the effectiveness of the company or companies in combatting money laundering activities, including in overseas branches.

(7) Financial stability In every case, the Board shall take into consideration the extent to which a proposed acquisition, merger, or consolidation would result in greater or more concentrated risks to the stability of the United States banking or financial system.

in view

Whole section

Encodings · 3

anticompetitive_effects_public_interest_override_required12 USC § 1842 (c) · derived

12 USC 1842(c)

name: anticompetitive_effects_public_interest_override_required
kind: derived
entity: Business
dtype: Judgment
period: Year
source: 12 USC 1842(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us/statute/12/1842
versions:
  - effective_from: '0001-01-01'
    formula: |-
      proposed_transaction_may_substantially_lessen_competition
      or proposed_transaction_may_tend_to_create_monopoly
      or proposed_transaction_would_otherwise_restrain_trade

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bank_stock_loan_maturity_safe_harbor_years12 USC § 1842 (c) · parameter

12 USC 1842(c)

name: bank_stock_loan_maturity_safe_harbor_years
kind: parameter
dtype: Count
source: 12 USC 1842(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/12/1842
          excerpt: >-
            a bank stock loan which is for a period of not more than twenty-five
            years
versions:
  - effective_from: '0001-01-01'
    formula: '25'

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bank_stock_loan_case_by_case_maturity_years12 USC § 1842 (c) · parameter

12 USC 1842(c)

name: bank_stock_loan_case_by_case_maturity_years
kind: parameter
dtype: Count
source: 12 USC 1842(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/12/1842
          excerpt: having a maturity of twelve years or more on a case by case basis
versions:
  - effective_from: '0001-01-01'
    formula: '12'

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▸rulespec code

Shown source

statutes/12/1842.yaml

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Rules

voting_share_prior_approval_threshold

Parameter

source: 12 USC 1842(a)

- name: voting_share_prior_approval_threshold
  kind: parameter
  dtype: Rate
  source: 12 USC 1842(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: more than 5 per centum of the voting shares
  versions:
    - effective_from: '0001-01-01'
      formula: '0.05'

debt_collection_share_disposition_period_years

Parameter

source: 12 USC 1842(a)

- name: debt_collection_share_disposition_period_years
  kind: parameter
  dtype: Count
  source: 12 USC 1842(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: disposed of within a period of two years
  versions:
    - effective_from: '0001-01-01'
      formula: '2'

board_extension_period_limit_years

Parameter

source: 12 USC 1842(a)

- name: board_extension_period_limit_years
  kind: parameter
  dtype: Count
  source: 12 USC 1842(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: for not more than one year at a time
  versions:
    - effective_from: '0001-01-01'
      formula: '1'

aggregate_extension_limit_years

Parameter

source: 12 USC 1842(a)

- name: aggregate_extension_limit_years
  kind: parameter
  dtype: Count
  source: 12 USC 1842(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: no such extension shall in the aggregate exceed three years
  versions:
    - effective_from: '0001-01-01'
      formula: '3'

post_acquisition_retention_application_period_days

Parameter

source: 12 USC 1842(a)

- name: post_acquisition_retention_application_period_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: application filed within ninety days after the shares are acquired
  versions:
    - effective_from: '0001-01-01'
      formula: '90'

supervisory_views_submission_period_days

Parameter

source: 12 USC 1842(b)

- name: supervisory_views_submission_period_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: within thirty calendar days of the date on which notice is given
  versions:
    - effective_from: '0001-01-01'
      formula: '30'

emergency_views_submission_period_days

Parameter

source: 12 USC 1842(b)

- name: emergency_views_submission_period_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: >-
              within ten calendar days of such date if the Board advises ... that an emergency
              exists
  versions:
    - effective_from: '0001-01-01'
      formula: '10'

hearing_notice_after_disapproval_period_days

Parameter

source: 12 USC 1842(b)

- name: hearing_notice_after_disapproval_period_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: Within three days after giving such notice to the applicant
  versions:
    - effective_from: '0001-01-01'
      formula: '3'

hearing_commencement_minimum_days

Parameter

source: 12 USC 1842(b)

- name: hearing_commencement_minimum_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: commenced not less than ten nor more than thirty days
  versions:
    - effective_from: '0001-01-01'
      formula: '10'

hearing_commencement_maximum_days

Parameter

source: 12 USC 1842(b)

- name: hearing_commencement_maximum_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: commenced not less than ten nor more than thirty days
  versions:
    - effective_from: '0001-01-01'
      formula: '30'

deemed_grant_action_period_days

Parameter

source: 12 USC 1842(b)

- name: deemed_grant_action_period_days
  kind: parameter
  dtype: Count
  source: 12 USC 1842(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: within the ninety-one-day period
  versions:
    - effective_from: '0001-01-01'
      formula: '91'

anticompetitive_effects_public_interest_override_required

Derived

source: 12 USC 1842(c)

- name: anticompetitive_effects_public_interest_override_required
  kind: derived
  entity: Business
  dtype: Judgment
  period: Year
  source: 12 USC 1842(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us/statute/12/1842
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        proposed_transaction_may_substantially_lessen_competition
        or proposed_transaction_may_tend_to_create_monopoly
        or proposed_transaction_would_otherwise_restrain_trade

bank_stock_loan_maturity_safe_harbor_years

Parameter

source: 12 USC 1842(c)

- name: bank_stock_loan_maturity_safe_harbor_years
  kind: parameter
  dtype: Count
  source: 12 USC 1842(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: a bank stock loan which is for a period of not more than twenty-five years
  versions:
    - effective_from: '0001-01-01'
      formula: '25'

bank_stock_loan_case_by_case_maturity_years

Parameter

source: 12 USC 1842(c)

- name: bank_stock_loan_case_by_case_maturity_years
  kind: parameter
  dtype: Count
  source: 12 USC 1842(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: having a maturity of twelve years or more on a case by case basis
  versions:
    - effective_from: '0001-01-01'
      formula: '12'

host_state_age_law_federal_override_years

Parameter

source: 12 USC 1842(d)

- name: host_state_age_law_federal_override_years
  kind: parameter
  dtype: Count
  source: 12 USC 1842(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: in existence for at least 5 years
  versions:
    - effective_from: '0001-01-01'
      formula: '5'

nationwide_deposit_concentration_limit

Parameter

source: 12 USC 1842(d)

- name: nationwide_deposit_concentration_limit
  kind: parameter
  dtype: Rate
  source: 12 USC 1842(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: more than 10 percent of the total amount of deposits
  versions:
    - effective_from: '0001-01-01'
      formula: '0.10'

statewide_deposit_concentration_limit

Parameter

source: 12 USC 1842(d)

- name: statewide_deposit_concentration_limit
  kind: parameter
  dtype: Rate
  source: 12 USC 1842(d)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/12/1842
            excerpt: would control 30 percent or more of the total amount of deposits
  versions:
    - effective_from: '0001-01-01'
      formula: '0.30'

insured_depository_institution_status_required

Derived

source: 12 USC 1842(e)

- name: insured_depository_institution_status_required
  kind: derived
  entity: Business
  dtype: Judgment
  period: Year
  source: 12 USC 1842(e)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us/statute/12/1842
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        business_is_bank_holding_company
        or business_is_bank_subsidiary_of_bank_holding_company

mutual_bank_holding_company_reorganization_authorized

Derived

source: 12 USC 1842(g)

- name: mutual_bank_holding_company_reorganization_authorized
  kind: derived
  entity: Business
  dtype: Judgment
  period: Year
  source: 12 USC 1842(g)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us/statute/12/1842
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        business_is_savings_bank_or_cooperative_bank
        and business_operates_in_mutual_form
        and reorganization_forms_holding_company

Factors for consideration by Board

Factors for consideration by Board

(1)Competitive factors#

(2)Banking and community factors#

(3)Supervisory factors#

(4)Treatment of certain bank stock loans#

(5)Managerial resources#

(6)Money laundering#

(7)Financial stability#

voting_share_prior_approval_threshold

debt_collection_share_disposition_period_years

board_extension_period_limit_years

aggregate_extension_limit_years

post_acquisition_retention_application_period_days

supervisory_views_submission_period_days

emergency_views_submission_period_days

hearing_notice_after_disapproval_period_days

hearing_commencement_minimum_days

hearing_commencement_maximum_days

deemed_grant_action_period_days

anticompetitive_effects_public_interest_override_required

bank_stock_loan_maturity_safe_harbor_years

bank_stock_loan_case_by_case_maturity_years

host_state_age_law_federal_override_years

nationwide_deposit_concentration_limit

statewide_deposit_concentration_limit

insured_depository_institution_status_required

mutual_bank_holding_company_reorganization_authorized