The real benefit of the expansion of the AJCA provisions to depository holding companies
is for existing C corporations, with IRA shareholders, that are considering electing S status.
Some insurers contend, however, that many of the merits achieved by demutualization, including benefit to policyholders, can be enjoyed by mutual holding companies
, minus the time and expense associated with the sometimes costly demutualization process.
The discussion on the Federal Reserve System's surveillance program is amended so that it applies only to those bank holding companies
that have $1 billion or more in consolidated assets.
By quibbling over the capital requirements for subsidiaries of foreign banks that wish to achieve status as financial holding companies
in the United States, the Fed has got the Europeans steamed.
In addition, the agencies must consider changes or reasonably expected changes in the marketplace in which financial holding companies
compete, as well as changes or reasonably expected changes in the technology for delivering financial services.
This amount reflects projected balances of cash at the parent level of $423 million, projected balances of cash at qualified holding companies
of $75 million and availability under its revolver of $39 million.
Through August 11,365 banking organizations had elected to be treated as financial holding companies
The regulatory environment for financial holding companies
in Taiwan is in a state of flux.
The GLB Act allows financial holding companies
--which are bank holding companies
whose depository institutions meet specified capital, management, and, for insured institutions, Community Reinvestment Act requirements--to acquire shares, assets, or ownership interests in any type of nonfinancial company.
The Federal Reserve Board on March 13, 2000, announced that the elections to become or be treated as financial holding companies
of 117 bank holding companies
and foreign banking organizations were effective as of that date.
Among other things, the Bank Holding Company Act and Federal Reserve Regulation Y limit the activities of bank holding companies
to activities closely related to banking.
This requires that the new activities be permitted through holding companies
and prohibited through banks.