How Do I Get Approved?
Application processing requirements for savings and loan holding companies (SLHCs) and SLHCs in mutual form (MHCs) are provided in the interim final rule setting forth regulations for SLHCs. The interim final rule establishes the new Regulation LL, which sets forth regulations generally governing SLHCs, and the new Regulation MM, which sets forth regulations governing MHCs.
Application 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 SR 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 OTS 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.
For additional information regarding the applications process or to discuss a specific transaction, please contact:
Grady Kesler, Applications Manager
Direct: (816) 881-4738
Fax: (816) 881-2252
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, Missouri 64198