Public Meeting for Proposed Merger of J. P. Morgan Chase & Co./Bank One — Background

A public meeting was held on April 23 at the Federal Reserve Bank of Chicago on the proposal by J. P. Morgan Chase & Co. to merge with Bank One Corporation.

Purpose of the Meeting
The purpose of the meeting was to collect information relating to factors the Board is required to consider under the Bank Holding Company Act. These factors are the effects of the proposal on the financial and managerial resources and future prospects of the companies and banks involved in the proposal, competition in the relevant markets, and the convenience and needs of the communities to be served. Convenience and needs considerations include the records of performance of J. P. Morgan Chase and Bank One under the Community Reinvestment Act.

Event Location and Time
The meeting began at 8:30 a.m. CDT on Friday, April 23, at the Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604.

Format
The event used panels as a way to more efficiently conduct the meeting. Individuals scheduled to testify were asked to limit their remarks to no more than five (5) minutes so that other members of the panel had a fair chance to express their views. To help with this process, a timekeeper was available at the meeting to alert individuals of the conclusion of their allotted time. Individuals who registered by the April 5 deadline were notified by the Chicago Reserve Bank that they were scheduled to testify and placed on the public agenda.

Agenda and Other Information
The tentative agenda (PDF,30KB) includes the names of presenters at the meeting. For more information about the hearing, please contact Alicia Williams, vice president, Consumer and Community Affairs, Federal Reserve Bank of Chicago, at (312) 322-5910 or Steve Kuehl, Consumer and Community Affairs, Federal Reserve Bank of Chicago, at (312) 322-5015.