FEDERAL RESERVE SYSTEM
12 CFR Part 225 [Regulation Y; Docket No. R-0958] |
Bank Holding Companies and Change in Bank Control (Regulation Y);
Review of Restrictions in the Board's Section 20 Orders
AGENCY: Board of Governors of the Federal Reserve System. ACTION: Proposed Conditions to Board Orders SUMMARY: The Board has conducted a comprehensive review of the prudential limitations established in its decisions under the Bank Holding Company Act and section 20 of the Glass-Steagall Act permitting a nonbank subsidiary of a bank holding company to underwrite and deal in securities. The Board is seeking comment on modifications to these limitations that the Board believes will allow section 20 subsidiaries to operate more efficiently and serve their customers more effectively. These modifications would allow section 20 subsidiaries to operate more readily in conjunction with an affiliated bank, thereby maximizing synergies, enhancing services, and possibly reducing costs. DATES: Comments should be received on or before March 10, 1997. ADDRESSES: Comments, which should refer to Docket No. R-0958, may be mailed to Mr. William W. Wiles, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, N.W., Washington, D.C. 20551. Comments addressed to Mr. Wiles may also be delivered to the Board's mail room between 8:45 a.m. and 5:15 p.m., and to the security control room outside of those hours. Both the mail room and the security control room are accessible from the courtyard entrance on 20th Street between Constitution Avenue and C Street, N.W. Comments may be inspected in room MP-500 between 9:00 a.m. and 5:00 p.m., except as provided in Section 261.8 of the Board's Rules Regarding the Availability of Information, 12 CFR 261.8. FOR FURTHER INFORMATION CONTACT: Gregory Baer, Managing Senior Counsel (202) 452-3236, Thomas Corsi, Senior Attorney (202) 452- 3275, Legal Division; Michael J. Schoenfeld, Senior Securities Regulation Analyst (202) 452-2781, Division of Banking Supervision and Regulation; for the hearing impaired only, Telecommunications Device for the Deaf (TDD), Dorothea Thompson (202) 452-3544. |
Summary and proposed conditions (112 KB PDF)
1997 Banking and consumer regulatory policy