What 12 CFR Part 225 (Regulation Y) - Bank Holding Companies and Change in Bank Control requires
Regulation Y (12 CFR Part 225) implements the Bank Holding Company Act and the Change in Bank Control Act and governs the formation, activities and control of bank holding companies (BHCs) and financial holding companies (FHCs), administered by the Federal Reserve Board. Under section 3 of the BHC Act, the Board's prior approval is required for any action that causes a company to become a bank holding company, that causes a bank to become a subsidiary of a BHC, or by which a BHC acquires direct or indirect control of more than 5 percent of a class of voting securities of a bank or BHC, unless an exemption applies. Under section 4 of the Act, a BHC and its subsidiaries may not engage in or acquire control of a company engaged in activities other than banking, managing or controlling banks, or activities the Board has determined to be so closely related to banking as to be a proper incident thereto; the permissible closely-related activities are listed in the regulation and require compliance with its procedures. Any person must give the Board 60 days' prior written notice before acquiring control of a state member bank or bank holding company, unless exempt. A BHC may elect to become a financial holding company by filing a written declaration with the appropriate Reserve Bank, which requires that its depository institutions be and remain well capitalized and well managed, and an FHC may engage only in activities that are financial in nature, incidental, or complementary. BHCs must observe the corporate-practices requirements, including serving as a source of financial and managerial strength to their subsidiary banks.
Pillar: Banking & Global Finance · Authority: Board of Governors of the Federal Reserve System · Version: 1.0.0 · Last updated:
Primary source: https://www.ecfr.gov/current/title-12/chapter-II/part-225
SHA-256 integrity: 05703969d631c4b0c4478babc0c6016a12459fccfad3635b5406d96a98ab6317
Primary Citations — 8 traced to source
- 12 CFR Part 225, §225.11 - transactions requiring Board approval under section 3 of the Bank Holding Company Act
- 12 CFR Part 225, §225.21 - prohibited nonbanking activities and acquisitions
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