FDIC Law, Regulations, Related Acts
4000 - Advisory Opinions
Conversion Transactions: Institution Resulting From The Merger of Two Affiliates
February 23, 1990
Douglas H. Jones, Deputy General Counsel
* * * under the facts set forth in your letter, paragraph (i) of section 5(d)(2)(D) of the Federal Deposit Insurance Act would be properly applied to [Bank B] taking into account [Bank A's] total deposits as of May 1, 1989, as well as [Bank B's] total deposits as of that date. As your letter points out, this conclusion simply treats the institution resulting from the merger of two affiliates, both of which were in existence and operating on May 1, 1989, as having the same capacity under section 5(d)(2)(C) and (D) to acquire deposits from a member of the Savings Association Insurance Fund as the two merging institutions would have had individually had they not merged.