Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted

The Bank Holding Company Act of 1956 (BHC Act) and the Board’s Regulation Y - Bank Holding Companies and Change in Bank Control (12 CFR 225) require a bank holding company (BHC) that acquired voting securities of a bank or BHC or the securities or assets of a company engaged in a nonbanking activity through foreclosure or otherwise in the ordinary course of collecting a debt previously contracted (DPC) to seek prior Board approval in order to retain ownership of those shares or assets for more than two years. There are no required reporting forms associated with this information collection (the FR 4006 designation is for internal purposes only).

The latest form for Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted expires 2022-09-30 and can be found here.

Section 225.12(b)

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight