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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: October 5, 2015

For immediate release

The Federal Reserve Board on Monday announced that the public comment period has been extended through October 30, 2015, on the application by Goldman Sachs Bank USA, New York, New York, to assume certain liabilities and acquire certain assets of GE Capital Bank, Holladay, Utah, under section 18(c) of the Federal Deposit Insurance Act ("Bank Merger Act"). 

The original comment period, which closed on September 19, 2015, is being extended to allow interested persons more time to review the proposal and to provide comments on the application in light of the standards the Board must consider in reviewing the proposal under the Bank Merger Act. These standards include the convenience and needs of the communities to be served, the effects of the proposal on the stability of the U.S. banking or financial system, the financial and managerial resources and future prospects of the institutions involved in the proposal, and competition in the relevant markets.

Comments regarding this application must be received at the Federal Reserve Bank of New York (Attention: Bank Applications Officer, 33 Liberty Street, New York, New York 10045; or the Office of the Secretary of the Board (20th Street and Constitution Avenue, NW, Washington, D.C. 20551) on or before October 30, 2015.

For media inquiries, call 202-452-2955.

Last update: October 5, 2015