INTERSTATE MERGER TRANSACTIONS.

SEC. 623. INTERSTATE MERGER TRANSACTIONS.(a) Interstate Merger Transactions.—Section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)) is amended by adding at the end the following:“(13)(A) Except as provided in subparagraph (B), the responsible agency may not approve an application for an interstate merger transaction if the resulting insured depository institution (including all insured depository institutions which are affiliates of the resulting insured depository institution), upon consummation of the transaction, would control more than 10 percent of the total amount of deposits of insured depository institutions in the United States.“(B) Subparagraph (A) shall not apply to an interstate merger transaction that involves 1 or more insured depository institutions in default or in danger of default, or with respect to which the Corporation provides assistance under section 13.“(C) In this paragraph—“(i) the term ‘interstate merger transaction’ means a merger transaction involving 2 or more insured depository institutions that have different home States and that are not affiliates; and“(ii) the term ‘home State’ means—“(I) with respect to a national bank, the State in which the main office of the bank is located;“(II) with respect to a State bank or State savings association, the State by which the State bank or State savings association is chartered; and“(III) with respect to a Federal savings association, the State in which the home office (as defined by the regulations of the Director of the Office of Thrift Supervision, or, on and after the transfer date, the Comptroller of the Currency) of the Federal savings association is located.”.(b) Acquisitions by Bank Holding Companies.—(1) In general.—Section 4 of the Bank Holding Company Act of 1956 (12 U.S.C. 1843) is amended—(A) in subsection (i), by adding at the end the following:“(8) Interstate acquisitions.—“(A) In general.—The Board may not approve an application by a bank holding company to acquire an insured depository institution under subsection (c)(8) or any other provision of this Act if—“(i) the home State of such insured depository institution is a State other than the home State of the bank holding company; and124 STAT. 1635“(ii) the applicant (including all insured depository institutions which are affiliates of the applicant) controls, or upon consummation of the transaction would control, more than 10 percent of the total amount of deposits of insured depository institutions in the United States.“(B) Exception.—Subparagraph (A) shall not apply to an acquisition that involves an insured depository institution in default or in danger of default, or with respect to which the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act (12 U.S.C. 1823).”; and(B) in subsection (k)(6)(B), by striking “savings association” and inserting “insured depository institution”.(2) Definitions.—Section 2(o)(4) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(o)(4)) is amended—(A) in subparagraph (B), by striking “and” at the end;(B) in subparagraph (C)(ii), by striking the period at the end and inserting a semicolon; and(C) by adding at the end the following:“(D) with respect to a State savings association, the State by which the savings association is chartered; and“(E) with respect to a Federal savings association, the State in which the home office (as defined by the regulations of the Director of the Office of Thrift Supervision, or, on and after the transfer date, the Comptroller of the Currency) of the Federal savings association is located.”.(c) Acquisitions by Savings and Loan Holding Companies.—Section 10(e)(2) of the Home Owners’ Loan Act (12 U.S.C. 1467a(e)(2)) is amended—(1) in paragraph (2)—(A) in subparagraph (C), by striking “or” at the end;(B) in subparagraph (D), by striking the period at the end and inserting “, or”; and(C) by adding at the end the following:“(E) in the case of an application by a savings and loan holding company to acquire an insured depository institution, if—“(i) the home State of the insured depository institution is a State other than the home State of the savings and loan holding company;“(ii) the applicant (including all insured depository institutions which are affiliates of the applicant) controls, or upon consummation of the transaction would control, more than 10 percent of the total amount of deposits of insured depository institutions in the United States; and“(iii) the acquisition does not involve an insured depository institution in default or in danger of default, or with respect to which the Federal Deposit Insurance Corporation provides assistance under section 13 of the Federal Deposit Insurance Act (12 U.S.C. 1823).”; and(2) by adding at the end the following:“(7) Definitions.—For purposes of paragraph (2)(E)—“(A) the terms ‘default’, ‘in danger of default’, and ‘insured depository institution’ have the same meanings 124 STAT. 1636 as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813); and“(B) the term ‘home State’ means—“(i) with respect to a national bank, the State in which the main office of the bank is located;“(ii) with respect to a State bank or State savings association, the State by which the savings association is chartered;“(iii) with respect to a Federal savings association, the State in which the home office (as defined by the regulations of the Director of the Office of Thrift Supervision, or, on and after the transfer date, the Comptroller of the Currency) of the Federal savings association is located; and“(iv) with respect to a savings and loan holding company, the State in which the amount of total deposits of all insured depository institution subsidiaries of such company was the greatest on the date on which the company became a savings and loan holding company.”.