Application processing requirements for savings and loan holding companies (SLHCs) and SLHCs in mutual form (MHCs) are provided in the External Linkinterim final rule setting forth regulations for SLHCs. The interim final rule establishes the new External LinkRegulation LL, which sets forth regulations generally governing SLHCs, and the new External LinkRegulation MM, which sets forth regulations governing MHCs.
External LinkApplication Filing Information
General information about the types of filings required by the Federal Reserve and how they are processed.
Apply for Membership
For SLHCs with subsidiary savings associations that are interested in converting to a state member bank.
On July 25, 2011, the Board of Governors of the Federal Reserve System (Board) issued External LinkSR 11-13, Guidance Regarding Prior Notices with Respect to Dividend Declarations by Savings Association Subsidiaries of SLHCs. The guidance states that effective July 21, 2011, any savings association that is a subsidiary of a SLHC must provide notice to the Board at least 30 days before declaring a dividend. The duty to review and process these notices is one of the new responsibilities the Board assumed on July 21, 2011, as part of the supervisory and rulemaking authority previously held by the Office of Thrift Supervision (OTS) with respect to SLHCs.
The 30-day prior notice is required by statute. The statute also provides that the 30-day period runs from the date the notice is submitted to the agency, and that a dividend declared during the review period or without filing the notice is null and void.
Savings associations may continue to use External LinkOTS Form 1583 to provide notice of dividends or they may choose to provide the information requested in OTS Form 1583 in another format. For savings associations in the Tenth District of the Federal Reserve System, dividend notifications should be submitted to the Applications Department of the Federal Reserve Bank of Kansas City.
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, Missouri 64198