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Federal Deposit Insurance Corporation

Division of Supervision

550 17th Street NW, Washington, DC 20429

Use of Interstate Branches Primarily for Deposit Production
FIL-25-97
March 27, 1997

CHIEF EXECUTIVE OFFICER
Proposed Rule to Prohibit Interstate Branching Primarily for Deposit
Production
The FDIC, the Federal Reserve Board and the Office of the Comptroller of the Currency are
seeking comment on a proposed joint rule to prohibit any bank from establishing or acquiring a
branch or branches outside of its home state under the Interstate Act primarily for the purpose
of deposit production. The proposed rule also provides guidelines ensuring that covered
interstate branches operated by an out-of-state bank are reasonably helping to meet the credit
needs of the communities served by the branches.

ac
tiv

e

TO:
SUBJECT:

The proposed rule is attached. Comments are due by May 2, 1997.

For further information, please contact Louise Kotoshirodo, Review Examiner, Division of
Compliance and Consumer Affairs, at (202) 942-3599 or Gladys Cruz Gallagher, Counsel, Legal
Division, at (202) 898-3833.

Carmen J. Sullivan
Director

Attachment: Federal Register, March 17, 1997, pp 12730-12738

In

Distribution: FDIC-Supervised Banks (Commercial and Savings)

Note: Paper copies of FDIC financial institution letters may be obtained through the FDIC’s
Public Information Center, 801 17th St., NW, Room 100, Washington, D.C. 200434 ((703) 5622200 or 800-276-6003)