Branch Closings — 1999-06-29 [99-16471]

The OCC, the Board, the FDIC, and the OTS (the agencies) are revising their joint policy statement regarding branch closings by insured depository institutions. This action is needed to incorporate changes in the underlying statute made by section 106 of the Riegle- Neal Interstate Banking and Branching Efficiency Act of 1994 and section 2213 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. The action is intended to clarify the additional steps regarding notice and consultation for proposed branch closings by interstate banks in low- or moderate-income areas, and to clarify the status of automated teller machines, relocations and consolidations, and branch closings in connection with emergency acquisitions or assistance by the FDIC.