Regulatory Applications

The primary function of the Applications Unit is to act and make recommendations on applications and notifications filed by state-member banks, bank holding companies, financial holding companies, and foreign banking organizations subject to Federal Reserve Bank of Philadelphia supervision.

Common state-member bank transactions requiring application or notice include:

becoming a Federal Reserve System member;
merging with another bank; and,
establishing new branches.

Common bank holding company transactions requiring application or notice include:

becoming a bank holding company;
acquiring or merging banks; and,
acquiring or forming a company engaged in non-banking activities, or engaging in such activities directly through the holding company.

Common financial holding company transactions requiring application or notice include:

becoming a financial holding company;
financial activities;
activities related to financial activities; and
complementary activities

Foreign banking organizations commonly file applications or notices to establish branches, agencies, or representative offices.

Individuals may also file notices to acquire controlling interests in state-member banks or bank holding companies.

All applications and notices are reviewed to ensure that they do not affect adversely the safety and soundness of the banking system or violate any laws, regulations, or Federal Reserve policies. In performing these reviews, emphasis is placed on prompt service, clear communication, and sound advice on policies and procedures.

The publication, The Federal Reserve System: Purposes and Functions provides additional information on the Federal Reserve’s applications function.

Regulatory Applications

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FEDERAL RESERVE BANK OF PHILADELPHIA • TEN INDEPENDENCE MALL • PHILADELPHIA, PA 19106-1574 • TEL: (215) 574-6000