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bank holding company |
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Bank holding company A company that owns or has controlling interest in two or more banks and/or other bank holding companies.
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| a Los Angeles-based financial holding company engaged in nationwide mortgage banking, hired Scott J. Federal Reserve Bank to operate as a financial holding company in the United States, enabling it to perform additional financial services such as underwriting and merchant banking. The interpretation clarifies that a banking organization that wishes to engage in underwriting securities that are to be distributed in the United States must be either a financial holding company or have authority to engage in underwriting activity under section 4(c)(8) of the Bank Holding Company Act. |
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