12 C.F.R. § 303.61 Definitions.
Title 12 - Banks and Banking
For purposes of this subpart: (a) Merger transaction includes any transaction: (1) In which an insured depository institution merges or consolidates with any other insured depository institution or, either directly or indirectly, acquires the assets of, or assumes liability to pay any deposits made in, any other insured depository institution; or (2) In which an insured depository institution merges or consolidates with any noninsured bank or institution or assumes liability to pay any deposits made in, or similar liabilities of, any noninsured bank or institution, or in which an insured depository institution transfers assets to any noninsured bank or institution in consideration of the assumption of any portion of the deposits made in the insured depository institution. (b) Corporate reorganization means a merger transaction between commonly-owned institutions, between an insured depository institution and its subsidiary, or between an insured depository institution and its holding company, provided that the merger transaction would have no effect on competition or otherwise have significance under the statutory standards set forth in section 18(c) of the FDI Act (12 U.S.C. 1828(c)). For purposes of this paragraph, institutions are commonly-owned if more than 50 percent of the voting stock of each of the institutions is owned by the same company, individual, or group of closely-related individuals acting in concert. (c) Interim merger transaction means a merger transaction (other than a purchase and assumption transaction) between an operating depository institution and a newly-formed depository institution or corporation that will not operate independently and that exists solely for the purpose of facilitating a corporate reorganization. (d) Resulting institution refers to the acquiring, assuming or resulting institution in a merger transaction. [67 FR 79247, Dec. 27, 2002, as amended at 71 FR 20526, Apr. 21, 2006]
Title 12: Banks and Banking
PART 303—FILING PROCEDURES
Subpart D—Merger Transactions
§ 303.61 Definitions.
