The UCAP states that there would be a one year adjustment period to accommodate bank mergers and acquisitions. When does this one year period begin?
For one year after the official date of the merger or acquisition (when the merged institutions are officially operating as one), the merged institutions can receive the same level of free access as they received at the time of the merger. After one year, FR offices will treat the legally merged institutions as one entity under the UCAP. In some cases, the merged institution, at some point, may reduce its access to FR office cash services earlier than one year.
Related Questions
- Why do bank mergers, acquisitions, and expansions present a strategic opportunity to encourage banks to enhance their product/service offerings to traditionally underserved groups?
- The UCAP states that there would be a one year adjustment period to accommodate bank mergers and acquisitions. When does this one year period begin?
- How are bank mergers/acquisitions different than corporate mergers/acquisitions in other industries, or are they?
