The Fed has allowed bank holding companies
to establish so-called section-20 securities subsidiaries for the past nine years, and there are currently 39 American and foreign banks that have done so.
We suggest that the recent reduction in risk at large bank holding companies
relative to small companies may stem from the regulatory reforms of the early 1990s.
This outcome reflects that many of these companies are smaller bank holding companies
that have little in the way of debt beyond the preferred issue.
In evaluating financial factors in proposals involving newly formed small bank holding companies
, the Board reviews the financial condition of both the applicant and the target depository institution.
The sections "Examiners' Guidelines for Assessing the Adequacy of Capital of BHCs" and "Credit-Supported and Asset-Backed Commercial Paper" have been updated to include the Board's July 17, 2004, approval (effective September 30, 2004) of its revisions to the risk-based capital requirements for asset-backed commercial paper (ABCP) programs sponsored by state member banks and bank holding companies
(collectively, banking organizations).
Barclays US") (collectively, "Applicants"), have requested the Board's approval under section 3 of the Bank Holding Company Act ("BHC Act") to become bank holding companies
and to acquire Juniper Financial Corp.
The thirty-day prior-notice requirement for appointing any new directors or senior executive officers of state member banks and bank holding companies
is also discussed.
5 billion at March 31, 2004, is the largest bank holding company in Tennessee and among the 30 largest bank holding companies
in the United States.
section] 1842) ("BHC Act") to become bank holding companies
A simplified version of the rating system would be applied to noncomplex bank holding companies
with assets of less than $1 billion.
The amendment would permit bank holding companies
to (i) take and make delivery of title to commodities underlying commodity derivative contracts on an instantaneous, pass-through basis; and (ii) enter into certain commodity derivative contracts that do not require cash settlement or specifically provide for assignment, termination, or offset prior to delivery.
Previously, he spent 35 years in the public accounting profession, primarily with Crowe Chizek and Company, LLP, dealing with community-based banks and bank holding companies