Fed plans reform of US bank ownership rules

Relaxing the definition of control would allow funds to invest without becoming BHCs themselves

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The Fed is to seek public comment on the control determinations framework

The Federal Reserve is planning a revamp of bank holding company (BHC) rules that would make it easier for non-bank funds to buy strategic stakes without becoming subject to bank prudential regulation, according to the Fed’s general counsel.

Mark van der Weide told a conference in Washington, DC on June 19 that the Fed would seek public comment on the control determinations framework, which governs the criteria for labelling an investor in a bank as a BHC. He could not be explicit on the timing

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