Page:United States Statutes at Large Volume 101 Part 1.djvu/658

 101 STAT. 628

PUBLIC LAW 100-86—AUG. 10, 1987 (1) APPLICATION RELATING TO ACQUISITIONS.—Section 3(b) of

the Bank Holding Company Act of 1956 (12 U.S.C. 1842(b)) is amended— (A) by striking out "(b) Upon" and inserting in lieu thereof



"(b)(1) NOTICE

AND HEARING

REQUIREMENTS.—

Upon"; and (B) by adding at the end thereof the following new paragraph:

"(2) WAIVER IN CASE OF BANK IN DANGER OF CLOSING.—If the

Ante, p. 627.

Board receives a certification described in section 13(f)(8)(D) of the Federal Deposit Insurance Act from the appropriate Federal or State chartering authority that a bank is in danger of closing, the Board may dispense with the notice and hearing requirements of paragraph (1) with respect to any application received by the Board relating to the acquisition of such bank, the bank holding company which controls such bank, or any other affiliated bank.". (2) APPLICATION RELATING TO NONBANKING ACTIVITIES.—Sec-

f < f j Federal Register, publication. -

tion 4(c)(8) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(c)(8)) is amended by striking out the semicolon at the end and inserting in lieu thereof a period and the following new sentences: "If an application is filed under this paragraph in connection with an application to make an acquisition pursuant to section 13(f) of the Federal Deposit Insurance Act, the Board may dispense with the notice and hearing requirement of this paragraph and the Board may approve or deny the application Under this paragraph without notice or hearing. If an application described in the preceding sentence is approved, the Board gj^^jj publish in the Federal Register, not later than 7 days after such approval is granted, the order approving the application and a description of the nonbanking activities involved in the acquisition;". (3) EARLY ANTITRUST REVIEW I N CASE O F EMERGENCY ACQUISITION OF F A I U N G BANK.—Section 11(b) of the B a n k Holding

Company Act of 1956 (12 U.S.C. 1849(b)) is amended— (A) by striking out "(b) The Board" and inserting i n lieu !fa^. thereof "(b) A N T I T R U S T R E VI E W. — "(1) IN GENERAL.—The Board"; ,,, (B) by moving all that follows 2 e m s to the right; and (C) by adding a t the e n d thereof the following n e w "' paragraph: "(2) SECTION 13(f) CASES.—(A) If—

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"(i) the Federal Deposit Insurance Corporation learns that a bank insured by such Corporation is in danger of J' closing; and "(ii) the Corporation is considering assisting the acquisition of such bank and its affiliated banks by another bank li' or holding company under section 13(f) of the Federal DetS' posit Insurance Act and such acquisition is subject to the approval of the Board under section 3 of this Act, the Corporation shall immediately notify the Board of such facts. "(B) Upon receipt of notice from the Federal Deposit Insurance Corporation under subparagraph (A) or at such earlier time as deemed appropriate by the Board, the Board shall immediately notify the Attorney General of the United States of the facts concerning the possible acquisition.

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