| For immediate release |
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The Federal Reserve Board today announced that the elections to become or be treated as financial holding companies of 117 bank holding companies and foreign banking organizations are effective as of today. The list of these companies is attached. The Federal Reserve Board and the Secretary of the Treasury anticipate issuing shortly an interim rule governing the merchant banking activities of financial holding companies. Any financial holding company that engages in merchant banking activities will be expected to comply with the interim rule when it becomes effective. |
2000 Banking and consumer regulatory policy