What would the FDIC consider to be a “strong majority interest”?
Generally, the FDIC will not apply the statement of policy to investments by private investors through a partnership or venture with an established bank or thrift holding company for the purpose of acquiring the assets and liabilities of a failed bank or thrift from an FDIC receivership unless the private investors have more than one-third of both the total equity or the voting equity of the partnership or joint venture post acquisition. In making the determination of whether this exclusion from the Policy Statement is applicable, the FDIC will take into account the impact of any special rights provided to the private investors through covenants, agreements, special voting rights, or other such mechanisms. In the circumstance described above, how does the statement of policy apply if private investors make their investment directly in an established bank or thrift holding company acquiring the assets and liabilities of a failed bank or thrift rather than through a partnership or joint
