Bank holding companies
—See also Bank Holding Company
Act of 1956; Financial holding companies; Holding companies.
Accounting, income tax allocation; policy statement,
4-870 et seq.
Acquisitions
by,
4-066 et seq.
Approval
by Federal Reserve Board,
4-066 et seq.
Stay because of antitrust law,
4-096Bank interests,
of—See Bank interests, this heading.
Nonbank interests, of—See Nonbanking activities, this heading.
Acquisitions of—See Bank acquisitions.
Activities
prior to 1970 amendments,
4-176Aircraft, remarketing for nonaffiliated third parties,
4-318.2Rhode Island mutual savings bank,
4-315Asset management,
servicing and collection,
4-047.2Checks, printing
and selling,
4-050Collection
agency operation,
4-047.2Commercial-paper sweep arrangements,
4-318.1Commercial real estate equity financing, arranging,
4-047.1Commodities, exchange-traded;
transactional services,
4-049.3Community development—See Community development, this heading.
Data processing services—See Data processing, this heading.
Debt in default, acquiring; closely related to
banking,
4-047.3Demand
thrift notes, offer of,
4-318Employee benefits consulting,
4-049.8Financial advice—See Financial
advisers, this heading.
Financial holding company activities,
4-082.72See also Financial holding companies.
Flood zone–determination
services,
4-318.4Foreign
exchange, engaging as principal in,
4-049.5Futures and forwards, engaging as principal in,
4-049.5Futures commission
merchant,
4-049.3Gold—See Precious metals, this subheading.
Government obligations, underwriting and dealing
in,
4-049.4Industrial banking,
4-049Insurance activities—See Insurance, this heading.
Securities brokerage, in combination with,
4-049.2Leasing—See Leasing, this heading.
Loans, making and servicing,
4-047Related activities,
4-047.1 et seq.
MICR-encoded items,
printing and selling,
4-050Money market instruments, underwriting and dealing in,
4-049.4New activities, procedures for
considering,
4-045.3Notes,
demand thrift; offer,
4-318Options, engaging as principal in,
4-049.5Personal property appraisal,
4-047.1Precious metals
Contracts
based on, engaging as principal in,
4-049.5Silver, purchase under repurchase agreement,
4-317Relocation of activities,
4-176Repurchase agreement,
purchase of silver under,
4-317Savings association; owning, controlling, or operating,
4-049Savings bank, mutual,
in Rhode Island; acquisition of assets and liabilities,
4-315Securities activities—See Securities activities, this
heading.
Silver—See Precious metals, this subheading.
Swaps, engaging as principal in,
4-049.5Thrift institutions,
4-315Thrift notes, demand; offer,
4-318Title abstracting, for
aircraft,
4-318.5Training
seminars, conducting,
4-318.3Transfer of activity or subsidiary to subsidiary bank,
4-316Trust company functions,
4-049Activities not closely
related to banking,
4-194;
4-330 et seq.
Automobile club memberships, sale,
4-333Credit cards
Accounts linked to deposit accounts,
4-338.1Electronic equipment manufacturing,
4-330Insurance activities—See Insurance, this heading.
Property management,
4-336Supermarket credit
cards,
4-334Tax-return
preparation,
4-335Advertising
department, in-house; servicing exemption,
4-664Affiliate, definition,
4-003Affiliated holding companies, joint action
by,
4-424Agreement corporation
Acquiring company, applicable to,
1-239Bank, exemption from definition of,
4-060Agricultural organizations,
nonbank interest exemptions,
4-031Deadline-extension
authority,
8-121.2Forms,
delegated authority to promulgate,
8-108.3Antitrust law—See Antitrust law.
Applications
and notices
Bank assets or shares, acquisition
of,
4-018;
4-022 et seq.
See also Bank interests, this heading.
Approval prior to filing, request
for,
4-636Attorney general,
notice to,
4-027Bank failure,
probable; exception to notice and hearing requirements,
4-029Delegated authority for,
4-026Emergency—See Bank acquisitions.
Interstate
banking—See Bank interests, this heading.
Reconsideration
of action,
4-268Subsidiary,
action causing bank to become,
4-018Well-run companies, acquisitions by,
4-024.1 et seq.
Delegated authority—See Federal Reserve Banks and Federal Reserve Board, this heading.
Federal Reserve Board, powers,
4-088Formation of bank holding companies,
4-018One-bank holding companies,
4-029.2 et seq.
Mergers
of bank holding companies,
4-018Emergency
thrift-institution acquisitions,
4-044Expanding or altering activities,
4-043Factors considered,
4-045Well-run bank holding companies, proposals by,
4-037.1 et seq.
Procedures
Comments submission and hearings requests,
8-023General procedures,
8-025 et seq.
Notice requirements,
8-039Special procedures,
8-028Appraisals
Personal property, closely related to banking,
4-047.1Real estate—See Real estate appraisal.
Assets
Management, servicing, and collection; closely related
to banking,
4-047.2Pools,
sales of interests in; financial holding company activities,
4-082.72Sales to section 20
subsidiary,
4-655.4Subsidiary
depository institutions, requirement to provide assets to; authority,
4-088.1;
4-088.2Association
Individual shareholders
not constituting,
4-420Preexisting family-owned, company,
4-418Automobile club membership sales, not closely related
to banking,
4-333Backup
lines of credit to, as principal shareholders of correspondent banks;
preferential loans,
3-1089.1Bank control—See Control
of depository institution or company; Bank interests, this heading.
Bank engaged in limited
activities,
4-358Commercial
lenders, industrial bank affiliated with,
4-359National banks not making,
4-361Trust company making,
4-355Demand deposits, trust company not accepting,
4-356Domestic branches
of foreign banks,
4-354Edge
corporation, subsidiaries,
4-351Industrial banks not considered,
4-060Commercial lenders, affiliated with,
4-359Control of, exemption
from bank holding company status,
4-082.11Liquidation, bank in process of,
4-363Private banks, ownership,
4-350Thrift institutions, exemptions for; savings banks,
4-363.1Commercial loans, making,
4-355Demand deposits, not accepting; not
considered to be bank,
4-356Banker's bank, acquisition of 5 percent; family-control exemption,
4-530Bank failure, probable;
exception to notice and hearing requirements,
4-029See also Applications
and notices, this heading.
Assets,
requirement to provide to subsidiary depository institution,
4-088.1;
4-088.2Bank acquiring in fiduciary capacity,
4-257Bank as corporate trustee, acquisition
by,
4-264Chain situations
Factors considered,
4-269Records, system of,
4-355Competitive Equality Amendments of 1987, retention
under,
4-082.17Control
determinations, transfer prior to,
4-265Corporate trustee, bank as; acquisition by,
4-264Corporations managing mutual funds,
acquisitions by,
4-270.3Deposit insurance, requirement,
4-815Divestitures, for effectuation,
4-262Emergency acquisitions—See Bank acquisitions.
Leveraged corporate acquisition fund,
4-271.2Federal Reserve Board action, untimely request for reconsideration,
4-268Financial resources, consideration of,
4-068Foreign banking organizations—See Foreign banking organization this heading.
Interstate banking
Antitrust laws, applicability,
4-069.4Community reinvestment compliance,
4-069.4Default, banks in; exception,
4-069.4Emergency acquisitions—See Bank acquisitions.
Subsidiary bank, acquisition by,
4-250Leveraged corporate acquisition fund,
4-271.2Approval for acquisition
of additional shares,
4-020Less-than-majority interest,
4-261Managerial resources, consideration
of,
4-068Mergers—See Mergers, this heading.
Minority shareholders, complaints of,
4-267Money laundering, effectiveness of
activities to combat; consideration of,
4-068Mutual funds, acquisitions by corporations
managing,
4-270.3National
charter, conversion of bank from to state charter,
4-263 Nonvoting equity investments—See Equity investments, nonvoting, this subheading.
State charter, conversion of bank
to from national charter,
4-263 Subscription rights, exercise,
4-171Subsidiary banks—See Bank subsidiaries, this heading.
Time extension for opening new bank,
8-121.2Transfer
Nonbank
subsidiary, to,
4-478Prior
to control determination,
4-265Trustee, corporate; by bank as,
4-264Bank Merger Act, transactions subject to;
Board approval not required,
4-021;
4-021.1See
also Mergers, this heading.
See also Property management, this heading.
Building and leasing, servicing exemption,
4-665Bank subsidiaries—See also Bank interests, this heading.
Assets, requirement that holding company provide
to; authority,
4-088.1;
4-088.2Foreign holding companies, bank subsidiary
of; acquisition of bank interests by,
4-270.2Investments in, deductions from capital,
3-2122Mergers by—See Mergers, this heading.
Nonbank subsidiaries, transactions with,
4-199Out-of-state banks, subsidiary
banks acquiring,
4-250Source
of strength to, duty of holding company to act as,
4-271.3;
4-878Transfer of activity
or subsidiary, closely related to banking,
4-316Beneficial ownership, substantial change in;
successor corporations,
4-702Buy-sell agreements, companies,
4-185.5Functionally regulated subsidiaries
and affiliates
Federal Reserve Board, authority to impose
requirements on limited,
1-401.7;
4-084.2Guidelines
Internal-ratings-based and advanced measurement approaches,
3-2200 et seq.
Leverage measure,
3-2110 et seq.
Market-risk
measure,
3-2301 et seq.
Small bank holding
company, depository subsidiary of,
4-868Capital planning,
requirements for bank holding companies with average total consolidated
assets of $50 billion or more,
4-017.5Capital surcharge, requirements for bank holding companies
identified as global systemically important,
3-2500 et seq.
Cash dividends not fully covered by earnings,
policy statement,
4-877Cease-and-desist proceedings,
4-017Chain situations, acquisition of bank interest; factors
considered,
4-269Change
in bank control—See Control
of depository institution or company.
Check-guaranty services, closely related to banking,
4-047.2Checks, printing and selling,
4-050Clearing agents, acting
as,
4-015.1Collection agency
operation, closely related to banking,
4-047.2Commercial lenders, industrial bank affiliated
with,
4-259Commercial loans
Arranging, real estate equity financing,
4-047.1National banks not making,
4-361Trust company making,
4-355Commercial paper
Subsidiaries
to issue, acquisition of nonbank interests,
4-298Sweep arrangements, closely related to banking,
4-318.1Commodities, exchange-traded;
transactional services,
4-049.3Commodity Exchange Metal Clearing Association, subsidiary
that is member of; servicing exemption,
4-669Community development
Administration of
funds under Comprehensive Employment and Training Act,
4-410Comprehensive Employment and Training
Act, administration of funds,
4-410Contributions to corporation,
4-411.1Debt and equity investments,
4-411.2Housing, low- and moderate-income,
4-411Low- and moderate-income
housing,
4-411Not-for-profit,
community development corporation, contributions to,
4-411.1Policy statement on,
4-805Community needs, consideration of;
bank acquisitions,
4-023;
4-068Company
Affiliated holding
companies, joint action by,
4-424Association
Individual shareowners
not constituting,
4-420Preexisting family-owned,
4-418Ceasing to be bank holding company, filing irrevocable
declaration,
4-166Common
investments, individuals with,
4-425Corporate and individual owners combined,
4-415Employee stock
ownership plans,
4-426.1Family, shareholder; control by common,
4-426Family-owned association, preexisting,
4-418Indian tribe as company,
4-422Individual ownership,
4-416Association, not constituting,
4-420Corporate, combined
with,
4-415Partnership
Limited; qualified,
4-005Securities underwriting; ownership of shares in connection
with,
4-417Shareholder family,
common; control by,
4-426Short-term trust partnership,
4-421Trust
Partnership, short-term,
4-421Compensation, royalties as; acquisition
of nonbank interests,
4-305Competitive effects resulting from mergers, terms defining,
4-850 Comprehensive Employment
and Training Act, administration of funds; community welfare projects,
4-410Congress, reports
to,
4-085Consolidations—See Mergers, this heading.
Consortium bank, as company,
4-419Construction-analysis services, real
estate appraisals,
4-651Consumer finance companies, acquisitions made by; nonbank interest
exemption,
4-035Contracts,
financial; policy statement as to,
4-830Control—See Control of depository institution or company.
Controlling shareholder, definition,
4-009Convertible securities
Debt previously contracted, acquisition of nonbank
interests,
4-294Preferred,
control of bank,
4-457Corporate
form, changes in; grandfathered interlocks,
3-840.2Corporate
trustee, bank acquiring bank interest as,
4-264Correspondent banks
Bank
holding companies as principal shareholders, backup lines of credit
as preferential loans,
3-1089.1Loan by to officer, director, or principal shareholder,
3-1018 et seq.;
4-148 et
seq.
Courier service, closely related to banking,
4-050;
4-180Credit-bureau activities, closely related to banking,
4-047.2;
4-338Credit cards
Accounts linked to
deposit accounts, not closely related to banking,
4-338.1Operations, institution engaging
in not considered bank,
4-060Bank holding company status, exemption from,
4-082.11Supermarket, not closely related
to banking,
4-334Credit
union, not considered a bank,
4-060Crimes
Employment of convicted
individual,
1-398.52Reporting
known or suspected crime,
4-015.2Home information system pilot program,
4-472Services for customers
of subsidiary banks, servicing exemption,
4-195Debt-collection services, extension of credit,
4-685Debt-for-equity conversions,
investments abroad through,
3-531 et seq.
Debt obligations, small-denomination, issuance
of,
4-867.1Debt securities—See Securities activities, this
heading.
Debts previously contracted
Bank interests, acquisition; bank shares acquired
beyond two-year limit,
4-270.1Convertible securities, acquisition of nonbank interests,
4-294Default, divestiture
period for acquisition of bank interest,
4-258Exemption, nonbank interests,
4-033Management, acquisition
through; acquisition of nonbank interests,
4-289Property management, acquisition of nonbank
interests,
4-290Bank as sole trustee,
4-440Exemption under Competitive Equality Amendments
of 1987,
4-082.1 et seq.
Delegation of authority,
4-011Demand deposits
Institution accepting
as bank,
4-003Bank holding
company status, exemption,
4-082.11Trust company not accepting not considered to be bank,
4-356Demand notes
Sale of, acquisition of nonbank interest,
4-303Thrift, offering of closely
related to banking,
4-318Deposit accounts linked to credit card accounts, activities not closely
related to banking,
4-338.1Acquisitions, notification
concerning,
1-344Cease-and-desist
proceedings against,
1-358Depository holding company, definition; management official interlocks,
3-777;
3-801Directors
Appointments, prior notice
and agency disapproval,
1-399.5 et seq.;
4-055 et seq.
Control of banks, shares held by directors and families,
4-444Credit secured by
company stock, reporting,
4-015.2Loans to by correspondent bank,
3-1018 et seq.;
4-148 et seq.
Shares held by individuals to qualify for,
4-437Diversion of bank income, unsound practice,
4-876Divestiture,
4-475 et seq.
Assets, transfer
to nonbank subsidiary,
4-478Bank Holding Company Act, shares acquired in violation of,
4-475Bank interest, acquisition
to effectuate,
4-262Bank
subsidiaries of thrift institutions, limited exemption for,
4-484Debt-for-equity conversions,
investments made through,
3-532Delays in, avoidance,
4-186Federal Reserve Banks, role,
4-186Indebtedness, transfer of stock for,
4-477Indebted transferee,
interlock with management,
4-483Directorates with subsidiaries,
4-476Indebted transferee and management,
4-483Management officials,
4-480Reestablishment,
request for,
4-485Less-than-5-percent
rule,
4-479Liabilities,
transfer to nonbank subsidiary,
4-478Nonbanking property
Deadline extension,
authority,
8-121.1Nonbank
subsidiary, held by,
4-033Nonbank subsidiary
Securities or assets held
by, nonbank interests,
4-033Transfer of assets and liabilities to,
4-478Officers, shares transferred to,
4-486Policy statement concerning,
4-186Presumptions of control
4-186Section 2(g)(3) determination,
4-489Spin-offs, pro rata,
4-488Termination of bank
holding company status,
4-492Thrift institutions, limited exemption for bank subsidiaries of,
4-484Transferees
Indebted, interlocking management with,
4-483Transferors, indebted to,
4-487Trustees
Shares transferred to,
4-486Dividends
Bank interests, acquisition,
4-171Cash, not fully covered
by earnings, policy statement,
4-877Small bank holding companies, restrictions,
4-868Domestic branch of foreign
bank,
4-354Downpayment,
minimum; for small bank holding company,
4-868Edge corporations
Bank,
exemption from definition of,
4-060Subsidiary of Edge corporation,
4-351Servicing exemption,
4-671Transactions between bank and nonbank subsidiaries,
4-198Electronic benefit
transfer services, anti-tying restrictions,
4-017.2Electronic equipment manufacturing, not closely
related to banking,
4-330Employee benefits consulting, closely related to banking,
4-049.7 Employee benefits plan,
parent company's; insurance underwriting for, servicing exemption,
4-675Employee stock ownership
plans
Funding, not closely related to
banking,
4-331Nonvoting
investments
Bank interests—See Bank interests, this heading.
Nonbank interests—See Nonbanking activities, this heading.
Placement of interests; extension of credit,
4-512Securities
Underwriting—See Securities activities, this
heading.
Escrow
Arrangements,
as to acquisition of bank interests,
4-172Securities held in, Board approval not required,
4-021.2Examinations and
inspections by Federal Reserve,
4-016;
4-084.1Affiliates, functionally
regulated; limitation of Federal Reserve Board authority over,
1-401.7 et seq.
Auditors and examiners,
communication and coordination between; policy statement,
3-1532.2Communicating problems
to management and boards of directors, policy statement,
3-1532Manuals,
forms, and other materials; authority to issue
Consumer and community affairs,
8-109Powers of Board, as to,
4-088Small shell holding companies, risk-focused supervision,
3-1532.5 Executive officer
Control by member of immediate family,
3-1028Credit secured by company
stock, reporting,
4-015.2Exemptions, nonbank interests,
4-031 et seq.;
4-074 et seq.
Acquisitions
not requiring Board approval,
4-033 et seq.
Agricultural organizations, nonbank interests,
4-031Bank holding company
definition,
4-082.1 et seq.
Consumer finance companies, asset acquisitions by,
4-035Debts previously contracted—See Debts previously contracted, this heading.
Export trading companies,
4-080.1 et seq.
Banker's bank, acquisition
of 5 percent,
4-530Merger,
nonbanking,
4-528Multi-tiered
holding company,
4-527Ownership
required,
4-526Scope of
exemption,
4-525Fiduciary
investments,
4-033Five-percent—See Five-percent exemption, this
heading.
Foreign activities, reorganization
of retained company,
4-560Grandfather—See Grandfather rights, this heading.
Hardship exemption,
4-031Company controlling
one bank prior to July 1, 1968,
4-081Horticultural organizations,
4-031Industrial banks, asset acquisitions by,
4-035Insurance underwriting
for parent company's employee benefits plan; servicing exemption,
4-675Investment companies,
securities of,
4-034Mortgage companies, asset acquisitions by,
4-035New bank holding companies,
activities and securities of,
4-036Regulation K, securities or activities exempt under,
4-037Securities
Investment companies, of,
4-034National banks, eligible for investment by;
nonbank interests,
4-033New bank holding companies,
4-036Subsidiaries, acquisition by; nonbank interests,
4-036Servicing—See Servicing exemption, this heading.
Thrift institutions, bank subsidiaries of;
divestiture,
4-484Export
trading companies, investments in,
3-738Extensions of credit by—See Loans, this heading.
Family control
Bank interests—See Control of depository institution
or company.
Nonbank interest, exemptions—See Exemptions, this heading.
Family-owned association, preexisting; company,
4-418Family ownership
of bank,
4-446Family partnership,
qualified; definition,
4-065.5Federal Reserve Banks
Appropriate for certain
actions,
4-011Delegated
authority as to bank holding companies,
4-011;
8-121.6 et seq.
Divestiture,
role in,
4-186Financial
contracts, notification,
4-830Federal Reserve Board
Action, untimely
request for reconsideration; acquisition of bank interest,
4-268Antitrust action, as
party in,
4-097Applications
Request for approval prior to filing,
4-636Examinations and inspections by—See Examinations and inspections by Federal Reserve, this heading.
General Counsel,
authority of,
8-107.3Judicial review of,
4-093Party in interest involved in proceedings,
4-145Penalties, assessment of,
4-091 et seq.
Secretary of the Board, authority of,
8-106.2Fees, excessive or unwarranted; diversion
of bank income,
4-876Fiduciary
capacity, bank acquiring bank interest in,
4-257Fiduciary investments, nonbank interest exemption,
4-033Financial activities,
4-082.7 et seq.
See also Financial holding companies.
Notice procedures for bank holding
companies,
4-082.6 et seq.
Notice procedures for financial holding companies,
4-082.73Financial advisers
Activity closely related to banking,
4-049.1Financial holding company activity,
4-082.72Open-end investment
company, to,
4-611Property
management,
4-610Financial
contracts, policy statement,
4-830Financial holding companies—See Financial holding companies.
Financial recordkeeping and reporting, policy statement,
4-830Financial resources
Small bank holding companies,
4-868Nonbank acquisitions, criteria for statutory
approval,
4-082.63Five-percent
exemption
Agreement to vote no more than 5 percent
of shares,
4-550Entire
class of securities, ownership of,
4-551;
4-552Insurance company, acquisition
of shares of,
4-189Investment
company shares, indirect ownership,
4-188Subsidiary
bank, shares owned by,
4-187Flood zone–determination services,
4-318.4See also Edge corporations, this heading.
Debt obligations, selling through foreign
subsidiary,
3-706Insurance
company, life,
3-767Management
consulting, limits on,
4-625Pension fund administrator,
3-767Reorganization of retained company, exemption,
4-560Foreign banking organizations
See also Foreign
banking organizations.
Home country,
supervision by,
4-022U.S.
branch or agency, acquisition by well-run company,
4-024.8Bank, exemption from definition
of,
4-060Domestic branch
of,
4-354Holding companies
Supervision and regulation,
4-835Nonbanking activities,
4-167Foreign exchange services, closely related
to banking,
4-049.5Foreign
subsidiaries—See also Foreign activities, this heading.
Forms
Annual reports—See Annual
reports (Form Y-6), this heading.
Registration—See Registration, this heading.
Functionally
regulated subsidiary
Capital requirements; Federal
Reserve Board, no authority to impose on,
4-084.2Futures and forwards, engaging as principal in;
closely related to banking,
4-049.5Futures commission merchant
Activity
closely related to banking,
4-049.3Offsetting transactions, internal accounting; bank and
affiliated securities subsidiary,
4-655.3Gold—See Activities
closely related to banking, at Precious metals, this heading.
Government
obligations, underwriting and dealing in; closely related to banking,
4-049.4Disposal of qualifying interest,
4-566Exemption, nonbanking activity,
4-037Expansion of activities,
4-565Interlocks
Banks,
substantial identity with,
3-840.3Corporate form, changes in,
3-840.2New
acquisitions, loss of exemption through,
4-571Nonbank banks, activities of,
4-572Real estate development and leasing,
4-569Subsidiary,
sale and purchase of shares of,
4-567Successor corporations, rights accruing,
4-701Termination of activity not warranted,
determination,
8-121.9Guarantees
by lessees, unconditional,
4-616Hardship exemption,
4-031Companies controlling one bank prior to July 1, 1968,
4-081Horticultural organizations,
nonbank interest exemptions,
4-031Housing, low- and moderate-income; community welfare
projects,
4-411Income
diversion, unsound practice,
4-876Indian tribe as company,
4-422Industrial banks—See Industrial banks.
Industrial
loan companies—See Industrial
loan companies.
Information security,
safeguarding customer information,
4-015.4;
4-863Inspections—See Examinations and inspections by Federal Reserve, this heading.
Installment
loans, servicing; servicing exemption,
4-661Installment paper, purchase for subsidiary banks;
servicing exemption,
4-192Agency,
acting as; closely related to banking,
4-050.2Casualty insurance agency, purchase,
4-591.2Insurance-marketing programs,
4-591.4IRAs, insurance
related to,
4-591.1Prior
approval requirement,
4-591.3Property insurance agency, purchase,
4-591.2Savings association, insolvent acquired; activities
of,
4-082.5Agents or brokers
Financial holding company activities,
4-082.72Licensing, authority over; acquisition
of nonbank interest,
4-284 Rates, federal regulation of,
4-591Casualty insurance
Agency, purchase
of by broker or agent,
4-591.2Financial holding company activities,
4-082.72Combined-balance programs, insurance
products as part of,
4-711Company
Acquisition of shares of; 5 percent
exemption,
4-189Savings association,
shares of held by; bank holding company status,
4-082.11;
4-082.17Deposit
insurance—See Deposit insurance, this heading.
Directors' and
officers' responsibility coverage and bankers' blanket bond coverage,
insurance company formation to provide,
4-338.2 Financial holding company activities,
4-082.72Leases, insurance
for benefit of holding company,
4-617Life insurance
Closely related to
banking,
4-184Credit life
insurance, servicing exemption,
4-193Financial holding company activities,
4-082.72Foreign company and pension fund
administrator,
3-767Marketing
programs, agents or brokers,
4-591.4Nonbank interest, acquisition, authority over licensing
of insurance agents,
4-284Premium funding, not closely related to banking,
4-184Property insurance agency, purchase
by broker or agent,
4-591.2Rates of agents or brokers, federal regulation,
4-591Servicing exemption,
4-193Spouse of debtor, for; not closely
related to banking,
4-337Underwriting
Activity closely related to banking,
4-050.1 et seq.
Activity
not closely related to banking,
4-184Employee benefits plan, parent company's; servicing exemption,
4-675Mortgages, real estate;
investment in,
4-598Nonbank
companies, investment in,
4-600.1Real estate mortgages, investment in,
4-598Securities, ownership of shares in
connection with; company,
4-417Insured depository institution
Bank
holding companies, banks that are; to be insured,
4-070Control of
Insured institution
Bank, not considered,
4-060Grandfathered
Corporate form, changes in,
3-840.2Substantial identity with banks,
3-840.3Management officials
Indebted transferee, interlock with;
divestiture,
4-483Retention, divestiture,
4-480Manufacturing company
which is also bank holding company, director as management official,
3-845.2Reestablishment,
request for; divestiture,
4-485Subsidiaries, with; divestiture,
4-476International activities—See International banking operations, generally.
Interstate
banking—See Bank interests, this heading.
Investing for others,
financial holding company activities,
4-082.72Investment advice
Securities brokerage, in combination with,
4-049.2Agency and advisory activities, combined,
4-177Financial holding
company activities,
4-082.72Mutual fund, providing advice and initial capitalization to,
4-612Open-end investment company,
to,
4-611Property management,
4-610Investment banking,
financial holding company activities,
4-082.72Investment companies
Open-end, investment or
financial adviser to,
4-611Securities of
Advised company, purchasing and
selling,
4-177Indirect
ownership; 5 percent exemption,
4-188Nonbank interest exemption,
4-034Labor organizations, nonbank interest exemptions,
4-031;
4-285Land development, not closely related to banking,
4-184Leasing
Activity closely related to banking
Personal
or real property,
4-048Bank premises,
servicing exemption,
4-665Guarantees
by lessees, unconditional,
4-616Insurance for benefit of holding company,
4-617Servicing exemption,
4-676Lending—See Loans, this heading.
Less-than-5-percent
rule, divestiture,
4-479Less-than-majority interest, acquisition of bank interest,
4-261Leveraged buyouts
Advice concerning, providing,
4-049.1Bank interests, corporate acquisition fund
organized and managed by bank,
4-271.2Liabilities of bank
Nonbank subsidiary,
transfer to; divestiture,
4-478Rhode Island mutual savings bank, of; acquisition as activity
closely related to banking,
4-315Life insurance—See Insurance, this heading.
Limited activities,
bank engaged in,
4-358Liquidating trust, company,
4-423Liquidation
Bank in process of,
acquisition of shares of,
4-363Mortgage company, subsidiary of; extension of credit,
4-511Backup line of credit to as
preferential loan,
3-1089.1Bank shares as collateral for,
4-452Commercial loans—See Commercial
loans, this heading.
Debt-collection
services offered in connection with,
4-685Export trading company, loans by holding company
invested in,
4-080.2Federal
Reserve Board approval, without,
4-510Financial holding company activities,
4-082.72Installment, servicing; servicing
exemption,
4-661Making
and servicing, closely related to banking,
4-047Activities related to,
4-047.1 et seq.
Financial holding company activities,
4-082.72Mortgage loans,
extension of credit,
4-514Officers, directors, and principal shareholders, to,
3-1075.1Overnight, to bank subsidiary,
as deposit,
2-325.13Subsidiary
to purchase loans, acquisition of nonbank interest,
4-298Management consulting
Activity
not closely related to banking,
4-184Foreign activities, limits on,
4-625Management officials
Interlocks—See Interlocks, this heading.
Managerial resources
Small bank holding companies,
4-868Nonbank acquisitions, criteria for statutory approval,
4-082.63Well managed—See Well-managed organization, this
heading.
Member banks
Loans to officers, directors, and shareholders; executives and directors
of inactive subsidiary not considered executive officers,
3-1070Member bank–securities
dealer interlocks
Small-denomination debt obligations,
issuance by,
4-867.1Thrift
notes, bank holding company selling,
4-867Merchant banking activities—See Financial holding companies.
See also Bank mergers and consolidations.
Antitrust, treatment of transactions as to,
4-098Applications, acquisition
of bank interests,
4-270.7Bank holding company
formation,
4-253Change
in bank control incident to, reports,
4-803Competitive effects
Family-control
exemption, nonbanking merger,
4-528Insured banks, of two; procedure,
4-639.1Interim company to hold shares,
4-271.1Nonbanking, family-control exemption,
4-528Nonbank subsidiaries,
wholly owned; procedure,
4-637Parent holding companies, by; following merger of subsidiary
banks,
4-639.2``Phantom
banks,'' acquisition of bank interests,
4-266Reorganization of banking subsidiaries, transitional
adjustments as to reserve requirements,
2-360.13Savings association and bank subsidiaries,
approval authority,
8-106.2State lines, mergers across by subsidiary banks,
4-259Subsidiary banks,
of
Family-control exemption, retention of,
4-531Merger of parent holding
companies, followed by,
4-639.2State lines, across,
4-259Time extensions, authority to grant,
8-121.2Vertical mergers of bank holding companies,
4-260Well-managed depository
institutions, of,
4-010.2MICR-encoded items, printing and selling; closely related to banking,
4-050Minority shareholders,
complaints of; acquisition of bank interest,
4-267Money exchange and transfer, financial holding
company activities,
4-082.72Money laundering, effectiveness of activities to combat; consideration
of,
4-068Money market
instruments, underwriting and dealing in; closely related to banking,
4-049.4Mortgage companies
Acquisition made by, nonbank interest exemption,
4-035Acquisition of, nonbank
interests,
4-287Activities,
extension of credit,
4-513Liquidation of subsidiary, extension of credit,
4-511Multi-tiered company, control,
4-436Nonbank interests, acquisition
of,
4-287Servicing exemption,
4-196Mortgages
Extension of credit,
4-514Investment in real estate; underwriting insurance,
4-598Loan agent and servicer,
servicing exemption,
4-663Multi-tiered holding company, family-control exemption,
4-527Municipal securities dealers, acting
as,
4-015.1Mutual funds
Acquisition of bank interests by corporations managing,
4-270.3Investment advisor
to, providing initial capitalization,
4-612Mutual holding company, organization as,
4-070Mutual savings banks
Rhode Island, in; acquisition of assets and liabilities
as activities closely related to banking,
4-315National banks
Conversion
to state charter,
4-263Not making commercial loans,
4-361Securities eligible for investment by, nonbank interest
exemption,
4-034Subsidiary,
acquisition of nonbank interest through,
4-282New bank holding companies, securities or activities;
nonbank interest exemption,
4-036Ninety-one-day rule, procedure,
4-639Nominee, shares held in name of; procedure,
4-635Nonbank banks—See Nonbank banks.
See also Activities closely related to banking; Activities not
closely related to banking; and Exemptions,
nonbank interests, this heading.
Additional offices to engage in, approval of application
to open,
8-121.9Advisory
opinions regarding scope,
4-045.2Alteration, notice,
4-043Applications—See Applications
and notices, this heading.
Bank premise companies—See also Property
management, this subheading.
Building and leasing, servicing exemption,
4-665Commercial paper, subsidiary to issue,
4-298Demand notes, sale of,
4-303De novo activities, exempt,
4-032Divestiture—See Divestiture, this heading.
Energy properties,
royalty interests,
4-305Expansion
Without Federal Reserve Board approval, violation,
4-740Family-owned companies,
exemption—See Exemptions, nonbank interests, this heading.
Financial activities—See Financial activities, this
heading.
Foreign banking organizations—See Foreign banking organizations.
International operations—See International banking operations, generally.
Loans, subsidiary to purchase,
4-298National banking subsidiary, acquisition through,
4-282Nonexempt shares,
divestiture,
4-082Nonvoting
equity investments,
4-305.1Nonvoting stock of reinsurance company,
4-304Notice procedures—See Applications and notices, this
heading.
Pension fund administrator and
life insurance company, foreign,
3-767Percentage ownership, acquisition to maintain,
4-281Prohibited activities
and acquisitions,
4-030Reinsurance company, nonvoting stock of,
4-304Royalty interests in
energy properties,
4-305Scope, advisory opinions regarding,
4-045.2Securities, convertible; debt previously contracted,
4-294Servicing activities—See Servicing exemption, this heading.
Small business investment companies,
4-173 et seq.;
4-295State-chartered banks, by,
4-288Termination of activities, ownership,
or control of nonbank subsidiaries constituting serious risk,
4-086;
4-087Thrift institutions—See Thrift institutions, this heading.
Trustees,
shares held by,
4-280Nonbank
subsidiaries
Divestiture, transfer of assets
and liabilities to,
4-478Merger, wholly owned; procedure,
4-637Serious risk, constituting; termination of activities,
ownership, or control,
4-086;
4-087Servicing exemption—See Servicing exemption, this heading.
Transactions with
Bank,
by; adversely affecting subsidiaries,
4-199Edge corporation, by,
4-198Nonexempt shares, divestiture,
4-082Nonvoting equity investments
Bank interests—See Bank
interests, this heading.
Nonbank interests—See Nonbanking activities, this heading.
Notes
Sale of, acquisition of nonbanking activities,
4-302Thrift notes
Demand, offering of closely related to banking,
4-318Member bank–securities
dealer interlocks,
4-867Notices—See Applications and notices, this heading.
Officers
Appointments, prior notice and agency disapproval,
1-399.5 et seq.;
4-055 et
seq.
Senior executive,
definition,
4-055.1Shares
transferred to; divestiture,
4-486One-bank holding companies, formation; notice procedure,
4-029.2 et seq.
Operations
and policy, corporate practices,
4-012Options, engaging as principal in; closely related to
banking,
4-049.5Ordinary
course of business, assets acquired in; nonbank interest exemption,
4-034Organizational costs,
servicing exemption,
4-676.1Out-of-state bank, bank subsidiary acquiring,
4-250Out-of-state bank holding company, definition
as to prohibition against deposit-production offices,
3-171Outstanding shares, definition,
4-008.1Parent company
Leverage, reduction as to small bank holding company,
4-868Transfer of control
to,
4-454Tie-in arrangements,
4-151 et
seq.
Personal property appraisal, closely related
to banking,
4-047.1Policy
and operations, corporate practices,
4-012Precious metals—See Activities
closely related to banking, this heading.
Premises company—See Property management, this heading.
Premises of bank—See Bank premises, this heading.
Privacy of customer information, safeguarding,
4-015.4;
4-863Procedure
Application, request
for Federal Reserve Board approval prior to filing,
4-636Mergers
Insured banks, of two; procedure,
4-639.1Parent bank holding
companies, by; following merger of subsidiaries,
4-639.2Wholly owned nonbank subsidiaries,
of,
4-637Ninety-one-day
rule,
4-639Nominee, shares
held in name of,
4-635See also Bank
premises, this heading.
Debt previously contracted, acquisition of nonbank interests,
4-290Investment and financial
advice,
4-610Proxy solicitation, change in bank control,
4-052.3Real estate
Appraisals—See Real estate appraisal.
Brokerage, not
closely related to banking,
4-184Development, grandfather rights,
4-569Leasing, grandfather rights,
4-569Mortgages, investment in; underwriting insurance,
4-598Syndication, not
closely related to banking,
4-184;
4-332Real property, definitions,
4-053.3Records, financial;
policy statement,
4-830Filing deadline,
extension authority,
8-121Forms, authority to promulgate,
8-108.3Regulation K, securities or activities exempt under; nonbank
exemption,
4-037Reinsurance
company, nonvoting stock of; acquisition of nonbank interest,
4-304Religious organization,
ownership of shares in connection with underwriting of securities;
company,
4-417Reorganizations
Foreign-activities exemption,
4-560Annual—See Annual reports, this heading.
Change in bank control,
4-802Merger, incident to,
4-803Credit to executive officer or director secured by company
stock,
4-015.2Divestiture,
progress reports,
4-186Failure to make, penalties,
4-092.2 et seq.
Affiliate of depository institution, functionally
regulated; limitation of authority over,
1-401.7 et seq.
Financial, policy statement,
4-830Forms, authority to promulgate,
8-108.3Repurchase
agreement, purchase of silver under; closely related to banking,
4-317Reserve requirements
Overnight loans to bank subsidiaries, as deposits,
2-325.13Reorganization of
banking subsidiaries, transitional adjustments,
2-360.13Royalties as compensation, acquisition of nonbank
interests,
4-305Safe deposit
business, nonbank interest exemption,
4-032.1Savings associations and banks—See Thrift institutions, this heading; Savings associations.
Securities activities
Asset sales to section
20 subsidiary,
4-655.4Bank
or bank holding company securities, acquisition of control,
4-018Brokerage, closely related
to banking,
4-049.2Investment advisory
activities, in combination with,
4-049.2;
4-177Convertible, preferred;
control of banks,
4-457Dealing, financial holding company activities,
4-082.72Debt securities
Small-denomination, issuance,
4-867.1Underwriting—See Underwriting, this subheading.
Equity securities
Underwriting—See Underwriting, this subheading.
Exchanging, financial holding company activities,
4-082.72Fiduciary capacity,
acquisition in,
4-019Financial
activities, considered,
4-082.72Five-percent exemption, ownership of entire class of
securities,
4-551;
4-552Investment company, advising and selling and
purchasing shares of,
4-177Lending, financial holding company activities,
4-082.72Market making, financial holding company activities,
4-082.72Municipal securities
dealers, acting as,
4-015.1National banks, securities eligible for investment by; nonbank interest
exemption,
4-034Options
transactions, section 20 subsidiaries,
4-655.2Private-placement services; closely related
to banking,
4-049.3Purchase
or redemption of own securities,
4-013 et seq.
Adverse comments determined nonsubstantive, review
of decision,
8-121.7Riskless-principal
transactions; closely related to banking,
4-049.2Safeguarding, financial holding company activities,
4-082.72Satisfaction of
debts previously contracted, acquisition in,
4-020Small-denomination debt obligations, issuance,
4-867.1Strips, proprietary;
dealing in,
4-655.5Subsidiaries
Acquisition by; nonbank interest exemption,
4-036Divestiture of securities
held by,
4-033Thrift notes—See Thrift notes, this heading.
Transferring, financial holding company activities,
4-082.72Underwriting
Debt and equity securities,
4-655.2 et seq.
Financial holding company activities,
4-082.72Section 20 subsidiaries,
conditions to Board orders,
4-058.88Shares owned in connection with; definition of ``company,''
4-417Voting, definition,
4-010Advertising department,
in-house,
4-664Bank premises,
building and leasing,
4-665Banks, nonsubsidiary; furnishing services to,
4-194Commodity Exchange Metal Clearing Association,
subsidiary that is member of,
4-669Data processing services for customers of subsidiary banks,
4-195 Edge Act subsidiaries,
4-671Employee benefits
plan, parent company's; insurance underwriting for,
4-675Installment-loan servicing,
4-661Installment paper, purchase
for subsidiary banks,
4-192Insurance, furnishing,
4-193Insurance underwriting for employee benefits plan,
4-675Mortgage companies,
4-196Mortgage loan agent
and servicer,
4-663Operations subsidiaries,
4-197Permissible services,
4-662Scope of exemption,
4-674Shares
held by, that could be held directly,
4-673Shareholder, principal
Control
by member of immediate family,
3-1028Loans to by correspondent bank,
3-1018 et seq.;
4-148 et seq.
Silver—See Activities closely related to banking, this heading.
Small bank
holding companies
Assessment of financial and
managerial factors,
4-868Shell, risk-focused supervision of,
3-1532.5Source of strength to subsidiary banks,
4-868Source of strength to subsidiary
banks, duty to act as,
4-271.3;
4-878Spin-off, pro rata; divestiture,
4-488State boundaries
Acquisitions, limitation on approval of application
for,
4-069Bank subsidiaries,
acquisitions by,
4-250Mergers
across by subsidiary banks,
4-259State charter, conversion of bank to from national charter;
acquisition of bank interest,
4-263State-chartered banks, acquisition of nonbank interests,
4-288Stock
Company, as collateral on loan to executive officer or director;
reporting,
4-015.2Splits,
acquisition of bank interests,
4-171Stapling, control of bank,
4-448Subscription rights, acquisition of bank interests,
4-171Subsidiary
Bank—See Bank subsidiaries, this heading.
Financial subsidiary
Investments
in, deductions from capital,
3-2122Nonbank—See Nonbank subsidiaries and Nonbanking activities, this
heading.
Successor corporations
Beneficial ownership, substantial change in,
4-702Grandfather
rights accruing,
4-701Transferor
not bank holding company until after transfer,
4-700Supermarket credit cards, not closely related
to banking,
4-334Sweep
arrangements, commercial-paper; activities closely related to banking,
4-318.1Taxes
Income tax
allocation, policy statement,
4-870 et seq.
Planning and return preparation, activity not closely
related to banking,
4-335Ten-percent rule, change in bank control,
4-395Termination of activities, ownership, or control
of nonbank subsidiaries constituting serious risk,
4-086;
4-087Termination
of status as bank holding companies, divestiture,
4-492Thrift institutions
Activity closely related to banking,
4-315Bank subsidiaries of, limited exemption
for; divestiture,
4-484Emergency acquisitions,
notice and hearing requirement exemptions,
4-044Savings associations—See Savings associations.
Thrift notes
Demand notes, offering of closely
related to banking,
4-318Member bank–securities dealer interlocks, selling,
4-867Affiliates, traditional banking relationships,
4-017.1Anticompetitive practices,
termination of exception,
4-017.2Bank subsidiaries, between,
4-710Combined-balance discounts,
4-017.1Electronic benefit transfer services,
4-017.2Federal laws, actions
under unaffected by actions against,
4-162Insurance products,
4-711Judicial proceedings,
4-157 et seq.
Civil actions by persons injured,
4-159Minimum balance, combined;
discount for,
4-017.1Nonbank
subsidiaries and affiliates, arrangements involving,
4-017.1Penalties for violations,
4-151 et seq.
Recovery by persons injured by actions
involving,
4-159Restraining
orders,
4-157State laws,
actions under unaffected by actions against tie-ins,
4-162United States, action by,
4-158Title abstracting, for
aircraft; closely related to banking,
4-318.5Training seminars, conducting,
4-318.3Transfer agents, acting as,
4-015.1Transferor not bank holding
company until after transfer,
4-700Troubled condition, definition,
4-055.1Trustees
Bank as sole
trustee,
4-440Corporate,
bank acquiring bank interest as,
4-264Over 25 percent held by, control,
4-435Shares held by
Shareholders,
for benefit of,
4-439Transfer
of shares to, divestiture,
4-486Trusts
Activity closely related
to banking,
4-049Bank,
as—See Bank, definition, this heading.
Control of bank
Perpetual trust voting less than 25 percent,
4-442Voting trust, control
through,
4-443Functions
to be performed by subsidiary, acquisition of nonbank interest,
4-283Liquidating, company,
4-423Perpetual trust voting
less than 25 percent, control of bank,
4-442Short-term, as company,
4-421Testamentary, exempt from definition of ``company,''
4-005Control of bank through,
4-443United States
Organization not doing business in, exemption from definition
of bank,
4-060Tie-in arrangements,
actions involving,
4-158Unsound or unsafe practices
Subsidiary banks,
duty to act as source of strength to,
4-271.2;
4-878Violations
Expanding nonbanking activities without Federal
Reserve Board approval,
4-740Voting securities, definition,
4-010Welfare projects, community; as activities
closely related to banking,
4-178Well-managed organization
Bank
acquisitions involving,
4-024.1 et seq.
Nonbanking activities, proposals
involving,
4-037.1 et seq.
