S&P said the brokerage has taken on the merger and acquisition, securitization and derivatives businesses from the Bank of Tokyo-Mitsubishi and its major overseas securities subsidiaries
The most important change would allow the securities subsidiaries
of bank holding companies to generate as much as 25 percent of their revenue from underwriting and dealing stocks and many types of bonds, up from a limit of 10 percent.
Bank South joins an elite group of 33 bank holding companies nationwide that have their own securities subsidiaries
There has been some liberalization in recent years both in geographic restrictions, through regional banking compacts, and in securities activities, through section 20 securities subsidiaries
Since October 1999, when the securities subsidiaries
of the banks were permitted to engage in stock trading, they have moved quickly to prepare a full range of innovative financial products and services.
and Norinchukin Bank said Friday they have reached a basic agreement to integrate their securities subsidiaries
At Security Pacific, Rowan directed corporate planning and acquisitions and was responsible for overseeing the company's international securities subsidiaries
This increase resulted primarily from the shifting of permissible government securities underwriting activities previously conducted in banks to the securities subsidiaries
Under the previously announced Mizuho reorganization plan, Mizuho Holdings will become a wholly owned subsidiary of Mizuho Financial Group through an equity-swap deal March 12 and hold banking and securities subsidiaries
I appreciate the opportunity to be here today to present the views of the Federal Reserve Board on the report by the General Accounting Office (GAO) entitled "Bank Powers: Activities of Securities Subsidiaries
of Bank Holding Companies.
The FSA also allowed securities subsidiaries
of banks to sell life insurance products starting Tuesday, so banks can sell the new products in cooperation with their securities units.
In making inspections into banks, the FSA will inspect their trust banking and securities subsidiaries
and send inspectors to their overseas units so as to get a fuller understanding of their operations as a whole.