The FR 2030a is an application for the issuance of Federal Reserve Bank stock and is submitted by nonmember state banks converting into national banks. The application requires a resolution by the applying bank's board of directors authorizing the transaction, an indication of the capital and surplus of the bank, and an indication of the number of shares and dollar amount of Federal Reserve Bank stock to be purchased.
Purpose: The application is required by the Federal Reserve Act and Regulation I and is necessary in order to obtain account data on the bank's capital and surplus and to properly document requests for issuance of Federal Reserve Bank stock.
State-chartered commercial banks may elect to become members of the Federal Reserve System if they meet certain requirements. National banks are required to become members of the Federal Reserve System. They must also subscribe to the capital stock of the Federal Reserve Bank of the district in which they are located.
Nonmember state banks converting into national banks.
The information is not published but is not considered confidential.