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BOARD OF GOVERNORS

OF THE

FEDERAL RESERVE SYSTEM

WASHINGTON, D.C. 20551

DIVISION OF SUPERVISION 

AND REGULATION

DIVISION OF CONSUMER AND 

COMMUNITY AFFAIRS

SR 19-10

CA 19-9

July 3, 2019

TO THE OFFICER IN CHARGE OF SUPERVISION AT EACH FEDERAL RESERVE 

BANK

SUBJECT: Final Rule Revising the Board’s Delegation Rules for Certain Types of 

Applications, Notices, and Requests

Applicability: The procedures in the final rule apply to certain applications, notices, and 

requests submitted to the Federal Reserve by supervised financial institutions and other entities.

1

The purpose of this letter is to inform financial institutions and other members of the 

public that the Board has expanded the types of applications, notices, and requests for which the 

Federal Reserve Banks (Reserve Banks) have delegated authority to act.

2

 The Board took this 

action by revising its Rules Regarding Delegation of Authority (Delegation Rules). The Reserve 

Banks will be required to apply the same legal standards and factors required to be taken into 

consideration by the Board in acting on any of the applications, notices, or requests that are 

covered by the expanded delegations. The Board expects that the revised Delegation Rules will

improve efficiency and timeliness in the applications process. 

Pursuant to the final rule, the Reserve Banks are authorized to:

• Grant or deny requests for modifying certain commitments; 

• Authorize a state member bank to make certain public welfare investments pursuant to

section 9(23) of the Federal Reserve Act and section 208.21 of the Board’s 

Regulation H;

3

 

 1 See 84 Fed. Reg. 31701 (July 3, 2019) for more information at https://www.govinfo.gov/content/pkg/FR-2019-07-

03/pdf/2019-13970.pdf. The revised delegations became effective on the date of publication in the Federal 

Register.

2 See 12 CFR 265 et. seq.

3 12 U.S.C. 338a; 12 CFR 208.21 et. seq.
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• Approve certain requests, applications, and notices relating to international banking 

operations filed pursuant to the Board’s Regulation K (12 CFR 211); 

• Approve certain requests not to file applications that would otherwise be required under 

the Bank Holding Company Act of 1956 and the Home Owners’ Loan Act; and

• Approve certain applications relating to mergers and acquisitions involving banks that are 

within competitive criteria described in the Delegations Rules. A similar delegation 

would apply to corresponding transactions involving savings and loan holding 

companies. 

Prospective filers are encouraged to contact the Applications Department of the 

appropriate Reserve Bank to discuss their proposal prior to submission.

4

Questions

Reserve Banks should distribute this letter to supervised institutions in their districts, as 

well as to their own supervisory and examination staff. Questions should be directed to 

Susan Motyka, Deputy Associate Director, (202) 452-5280, Division of Supervision and 

Regulation; Anthony Iwuji, Manager, (202) 452-3254, Division of Consumer and Community 

Affairs; and Scott Tkacz, Senior Counsel, (202) 452-2744, Legal Division. In addition, 

questions may be sent via the Board’s public website.5

Michael S. Gibson Eric S. Belsky

Director Director

Division of Supervision Division of Consumer and

and Regulation Community Affairs

Attachment: 

• Federal Register Notice

Cross references to:

• SR letter 12-12 / CA letter 12-11, “Implementation of a New Process for Requesting 

Guidance from the Federal Reserve Regarding Bank and Nonbank Acquisitions and 

Other Proposals”

 4 More information regarding the applications process and various types of filings is available on the Board’s 

website: https://www.federalreserve.gov/supervisionreg/afi/filings.htm. See also SR letter 12-12 / CA letter 12-11, 

“Implementation of a New Process for Requesting Guidance from the Federal Reserve Regarding Bank and 

Nonbank Acquisitions and Other Proposals.”

5 See https://www.federalreserve.gov/apps/contactus/feedback.aspx.