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Regulatory Applications and Membership Information

Who Can Become a Member of the Federal Reserve System

Any state-chartered bank (mutual or stock-formed) may become a member of the Federal Reserve System. The 12 regional Reserve Banks supervise state member banks as part of the Federal Reserve System's mandate to assure strength and stability in the nation's domestic markets and banking system. Reserve Bank supervision is carried out in partnership with the state regulators, assuring a consistent and unified regulatory environment. Regional and community banking organizations constitute the largest number of banking organizations supervised by the Federal Reserve System. Through its decentralized structure, use of emerging technology and partnerships with state regulators, the Federal Reserve has developed a risk-focused approach that is responsive and provides member banks with a high-quality and efficient supervisory process.

Apply for Membership

To apply for membership, complete and submit an application for membership: Form FR 2083A/B/C. A bank seeking membership should contact the Federal Reserve prior to submitting a final application to allow for the completion of a pre-membership examination, if needed.

Application by Organization

Regulatory applications are required for member banks and bank holding companies to engage in expansionary activity. Any person or group “acting in concert” may be required to file an application to acquire a controlling interest in a banking organization. See below for more on the types of activities that require an application.

Member Bank Applications

Member banks must file an application with the Federal Reserve when they wish to engage in activities such as establishing or closing branches, merger activity, investing in premises and in some instances adding new officers and directors. Additional information about particular filing types, including a description, links to the appropriate regulations and forms, publication requirements and approximate processing time frames can be found on the Federal Reserve Board of Governors' website.

Bank Holding Companies

Bank holding companies are required to file an application with the Federal Reserve to engage in non-banking activities, acquisitions, redemption of stock and in some instances add new executive officers and directors. Additional information about particular filing types, including a description, links to the appropriate regulations and forms, publication requirements and approximate processing time frames can be found on the Federal Reserve Board of Governors' website.

Savings and Loan Holding Companies and SHLC Mutual Holding Companies

Savings and loan holding companies and SLHC mutual holding companies are required to file an application with the Federal Reserve acquire a new organization, engage in de novo financial activities, upstream dividends from a subsidiary savings association, and in some instances add new executive officers and directors. Furthermore, mutual holding companies wishing to convert to a stock structure are required to file an application. Additional information about particular filing types, including a description, links to the appropriate regulations and forms, publication requirements and approximate processing time frames can be found on the Federal Reserve Board of Governors' website for SLHCs and SLHC mutual holding companies.

Change in Bank Control Act

Any person or group acting in concert, as defined by the appropriate regulation is required to file prior notice under the Change in Bank Control Act. This type of filing is required for all entities supervised by the Federal Reserve. Please visit the appropriate site, listed above, to find the requirements to file an application under the Change in Bank Control Act based on which type of organization you are seeking a controlling interest in.

File an Application

E-Apps Tool

The Federal Reserve Bank of Chicago is able to accept all regulatory applications through the E-Apps tool. This web-based application allows banking organizations supervised by the Federal Reserve System to submit applications online, either directly or through their authorized representatives. The system has been designed to ensure confidentiality is maintained.

For questions on Seventh District regulatory applications, or on utilizing E-Apps, please contact Mergers & Acquisitions Manager Chameen Letourneau and include “FRB Application Questions” in the subject line.

Resources

Borrow from the Federal Reserve's Discount Window

The Seventh District’s Discount Window website includes resources and contact information related to current borrowing programs. 

Manage Your Federal Reserve Account

Manage your reserves and/or clearing balances and learn about Payments System Risk policy.

Applications Bulletin

View applications and notices that have been filed with the Federal Reserve Bank of Chicago and are open for public comment. 

Access the H.2A (Comment on Applications and Noticed Filed)

View applications and notices that have been filed or will be filed shortly with the Federal Reserve System under the Bank Holding Company Act, the Change in Bank Control Act, the Home Owners' Loan Act or Regulations Y, LL, MM for which a notice has been sent to the Federal Register that are open for public comment. 

Mergers and Acquisitions

View merger and acquisition filings that have occurred since 1976. 

Banking Market Definitions

The research department of the Federal Reserve Bank of Chicago delineates local geographic markets of retail banking competition to analyzing the competitive effects of mergers, acquisitions and other transactions for bank holding companies, savings and loan holding companies and state member banks headquartered in the Seventh Federal Reserve District.

Orders on Banking Applications

View press releases issued by the Federal Reserve Board of Governors. On the linked below, under Filter By: Type:, select Orders on Banking Applications to view orders issued under the Bank Holding Company Act, the Bank Merger Act, and the International Banking Act.

Public Information Documents

Weekly actions taken by the Board, its staff and the Federal Reserve Banks are listed in the Board's H.2 release. The H.2 also lists reports from the Federal Reserve Banks on applications received and on ratings under the Community Reinvestment Act.

Public Meeting Transcripts

Under the Bank Holding Company Act, the Federal Reserve Board is required to consider the effects of proposed mergers and acquisitions involving bank holding companies.

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Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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