Publication Requirements-Newspaper/Federal Register
The bank must publish notice of the application in a newspaper serving the area surrounding the main office and the area surrounding the proposed branch location. The Reserve Bank cannot consider an application received unless the applicant has published. The bank must provide tear copies of the notice of publication at the time of filing and provide an original proof of publication once received.
Reserve Bank Contact
Publication — The following is a sample notice:
Notice of Application
(to establish a branch)
(Name and address of applicant)
Intends to apply to the Federal Reserve System for permission to establish a branch office at (location of proposed branch). The Federal Reserve System considers a number of factors in deciding whether to approve the application, including the record of performance of banks in helping to meet local credit needs.
You are invited to submit comments on this application, in writing, to the Federal Reserve Bank of Philadelphia, Ten Independence Mall, Philadelphia, Pennsylvania 19106. The comment period will not end before (date – must be no less than 15 days from the date of publication of the notice), and may be somewhat longer. The Federal Reserve Board’s Policy Statement regarding notice of applications may be found at 12 C.F.R. 262.25. To obtain a copy of the Federal Reserve Board’s procedures, or if you need more information about how to submit your comments on application, contact Judy Lynn, Director, at 215-574-6171. The Federal Reserve System will consider your comments and any request for a hearing on the application if they are received by the Federal Reserve Bank of Philadelphia on or before the last date of the comment period.
Information to Submit
The application should be submitted in the form of a letter that includes a detailed description of the proposed branch. A copy of the application filed with the bank’s State regulatory agency will suffice in this regard. A copy of the affidavit of publication also must be included with the letter.
Processing Time Frames
For branch proposals processed on an expedited basis, the Federal Reserve would act by the fifth business day after the expiration of the public comment period.2 For other branch proposals, the Federal Reserve normally acts within 30 or 60 calendar days after receipt, unless the Federal Reserve notifies the applicant that the processing period is being extended.
For branch proposals, the Federal Reserve considers the factors in section 208.6(b) of Regulation H.
A member bank may seek approval in a single application for any branches it proposes to establish within one year after the approval date.
A branch proposal may qualify for the expedited processing procedure if it meets the criteria in section 208.6(c).