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TREAS/OCC

RIN: 1557-AB95

Publication ID: Fall 2001

Title: Prohibition Against Use of Interstate Branches Primarily for Deposit Production
Abstract: The notice of proposed rulemaking invited comment on a rule that would amend regulations implementing section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 to effectuate the amendment of section 109 of the Gramm-Leach-Bliley Act of 1999. Section 109 prohibits a bank from establishing or acquiring a branch or branches outside of its home state for the purpose of deposit production. Additionally, section 109 contains guidelines for determining whether a bank is reasonably helping to meet the credit needs of communities served by an out-of-state branch or branches. The proposed rule amends the section 109 deposit production prohibition to include any bank or branch controlled by an out-of-state bank holding company, including a bank consisting only of a main office.
Agency: Department of the Treasury(TREAS)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 25
Legal Authority: 12 USC 21 12 USC 22 12 USC 26 12 USC 27 12 USC 30 12 USC 36 12 USC 93a 12 USC 161 12 USC 215 12 USC 215a 12 USC 481 12 USC 1814 12 USC 1816 12 USC 1828(c) 12 USC 1835a 12 USC 2901 through 2907 12 USC 3101 through 3111

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	04/09/2001	66 FR 18411
NPRM Comment Period End	06/08/2001
Final Rule	04/00/2002

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
Agency Contact: Patrick T. Tierney Counsel Department of the Treasury Comptroller of the Currency Legislative and Regulatory Activities Division, 400 7th Street SW., Washington, DC 20219 Phone:202 649-6291 Email: patrick.tierney@occ.treas.gov