03:37 PM EDT, 09/17/2024 (MT Newswires) -- The Federal Deposit Insurance Corp. said Tuesday its board approved the final statement of policy on bank merger transactions to add extra scrutiny for deals.

Under the new policy, the FDIC will account for a merger's competitive effects, financial risk, convenience and needs of the community and financial stability.

Transactions resulting in an organization with more than $50 billion in total assets are expected to face public hearings, the regulator added.

The final statement policy supersedes the existing policy, which was updated in 2008.