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UNDER the Bank iloiding Company Act of 1956, the Board of Governors of the Federal Reserve Systemn must coimsider the conveniemmce ammd mmeeds of time coin— nmunity when ruhmmg on apphcatiomms by bank holding companies to acquire hammk stmbsicharies. 1mm each ease, tIme Board mnust decide, first, wimetlmer tIme benefits ascribed by the applicant would be realized and secommcl, wlmether the proposed acqtmisition would fur— timer time pmibhc interest.

Bank Holding Company Performance Studies and the Public Interest: Normative Uses for Positive Analysis