Fed proposes new rules for determining company control of banks
Proposal aims to “reduce regulatory burden”, Powell says
The Federal Reserve is proposing to simplify and increase the transparency around rules concerning companies’ control of banking organisations, it announced on April 23.
The proposal outlines a number of factors that the board would use to determine whether a company has control over a bank. These include the company’s total voting and non-voting equity investments in the bank, governance and employee overlaps, and the scope of the business relationship.
The proposal is aimed to “reduce
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