12 U.S.C. ch. 17 — Bank Holding Companies (Bank Holding Company Act of 1956, §§ 1841–1852)

Reservation of rights to States

— Reservation of rights to States (a) In general No provision of this chapter shall be construed as preventing any State from exercising such powers and…

Judicial review

— Judicial review Any party aggrieved by an order of the Board under this chapter may obtain a review of such order in the United States Court of Appeals…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (a) Prior approval of Board as necessary; exceptions; disposition, time extension; subsequent approval or disposition…

Acquisition of subsidiary and tying arrangement: Federal Reserve Board proceedings; application for authorization; competitor as party in interest and person aggrieved; judicial review

— Acquisition of subsidiary and tying arrangement: Federal Reserve Board proceedings; application for authorization; competitor as party in interest and person…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (a) In general (1) Prohibition Unless otherwise…

Definitions

— Definitions (a) (1) Except as provided in paragraph (5) of this subsection, “bank holding company” means any company which has control over any bank or over…

Saving provision

— Saving provision (a) General rule Nothing herein contained shall be interpreted or construed as approving any act, action, or conduct which is or has been or…

Penalties

— Penalties (a) Criminal penalty (1) Whoever knowingly violates any provision of this chapter or, being a company, violates any regulation or order issued by…

Securities holding companies

— Securities holding companies (a) Definitions In this section— (1) the term “associated person of a securities holding company” means a person directly or…

Administration

— Administration (a) Registration of bank holding company Within one hundred and eighty days after May 9, 1956 , or within one hundred and eighty days after…

Concentration limits on large financial firms

— Concentration limits on large financial firms (a) Definitions In this section— (1) the term “Council” means the Financial Stability Oversight Council; (2)…

Interests in nonbanking organizations

— Interests in nonbanking organizations (a) Ownership or control of voting shares of any company not a bank; engagement in activities other than banking Except…

Securities holding companies

— Securities holding companies (5) the term “supervised securities holding company” means a securities holding company that is supervised by the Board of…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (1) Study Not later than 6 months after July 21, 2010…

Administration

— Administration (1) Reports (A) In general The Board, from time to time, may require a bank holding company and any subsidiary of such company to submit…

Concentration limits on large financial firms

— Concentration limits on large financial firms (3) the term “liabilities” means— (A) with respect to a United States financial company— (i) the total…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (3) of section 1841(g) of this title , or (ii) in the regular course of securing or collecting a debt previously…

Definitions

— Definitions (2)(C) of this subsection, a company may not be held to have had control over any given bank or company at any given time unless that company, at…

Interests in nonbanking organizations

— Interests in nonbanking organizations (8) of subsection (c) of this section subject to all the conditions specified in such paragraph or in any order or…

Saving provision

— Saving provision (1) In general The Board shall immediately notify the Attorney General of any approval by it pursuant to section 1842 of this title of a…

Penalties

— Penalties (3) Hearing The company or other person against whom any penalty is assessed under this subsection shall be afforded an agency hearing if such…

Saving provision

— Saving provision of this title might be consummated. The commencement of such an action shall stay the effectiveness of the Board’s approval unless the court…

Penalties

— Penalties (1) First tier Any company which— (A) maintains procedures reasonably adapted to avoid any inadvertent error and, unintentionally and as a result…

Administration

— Administration (2) Examinations (A) In general Subject to subtitle B of the Consumer Financial Protection Act of 2010 [ 12 U.S.C. 5511 et seq.], the Board…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (2) Rulemaking (A) In general Unless otherwise…

Definitions

— Definitions (3) of subsection (g) of this section. For the purpose of the preceding sentence, bank shares shall not be deemed to have been acquired in a…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets not acquire control of any additional bank as a result of the reorganization.. 1 The Board is authorized upon…

Securities holding companies

— Securities holding companies (2) Registration as a supervised securities holding company (A) Registration A securities holding company that elects to be…

Concentration limits on large financial firms

— Concentration limits on large financial firms an acquisition— (1) of a bank in default or in danger of default; (2) with respect to which assistance is…

Interests in nonbanking organizations

— Interests in nonbanking organizations paragraph shall be construed to authorize any bank holding company referred to in the preceding proviso, or any…

Saving provision

— Saving provision (2) Section 1823(f) cases (A) If— (i) the Federal Deposit Insurance Corporation learns that a bank insured by such Corporation is in danger…

Definitions

— Definitions company in the regular course of securing or collecting a debt previously contracted in good faith, if, in the Board’s judgment, such an…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (1) Notice and hearing requirements Upon receiving from a company any application for approval under this section, the…

Administration

— Administration (1). (C) Coordination with other regulators The Board shall— (i) provide reasonable notice to, and consult with, the appropriate Federal…

Penalties

— Penalties (2) submits or publishes any false or misleading report or information, the Board may, in its discretion, assess a penalty of not more than…

Securities holding companies

— Securities holding companies (1) Recordkeeping and reporting (A) Recordkeeping and reporting required Each supervised securities holding company and each…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2) above from time to time as to such bank holding company for not more than one year at a time, if, in its judgment…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (1) and adopt rules to carry out this section, as…

Definitions

— Definitions (6) For the purposes of this chapter, any successor to a bank holding company shall be deemed to be a bank holding company from the date on which…

Saving provision

— Saving provision (1) for an acquisition to which this paragraph applies, except that such period may not be eliminated or reduced to less than 5 days without…

Securities holding companies

— Securities holding companies (2) Use of existing reports (A) In general The Board of Governors shall, to the fullest extent possible, accept reports in…

Administration

— Administration (3) Capital (A) In general The Board may not, by regulation, guideline, order, or otherwise, prescribe or impose any capital or capital…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets the disapproving authority. The length of any such hearing shall be determined by the Board, but it shall afford all…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2) above, may be extended by the Board of Governors to December 31, 1984 , but only for the divestiture by a bank…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (2) Waiver in case of bank in danger of closing If the Board receives a certification described in section 1823(f)…

Administration

— Administration investment company, and the shares owned by the bank holding company have a market value equal to more than $1,000,000. (4) Functional…

Securities holding companies

— Securities holding companies (1) In general The Board of Governors shall, by regulation or order, prescribe capital adequacy and other risk management…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (3) Extended transition for illiquid funds (A)…

Interests in nonbanking organizations

— Interests in nonbanking organizations the same family, or their spouses, who are lineal descendants of common ancestors; and such prohibitions shall not…

Definitions

— Definitions (2), the term “bank” means any of the following: (A) An insured bank as defined in section 3(h) of the Federal Deposit Insurance Act [ 12 U.S.C…

Saving provision

— Saving provision laws” defined For the purposes of this section, the term “antitrust laws” means the Act of July 2, 1890 (the Sherman Antitrust Act), the Act…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2) shares acquired by a bank holding company or any of its subsidiaries in satisfaction of a debt previously…

Securities holding companies

— Securities holding companies (4) Notice A capital requirement imposed under this subsection may not take effect earlier than 180 days after the date on which…

Administration

— Administration (5) Definition For purposes of this subsection, the term “functionally regulated subsidiary” means any company— (A) that is not a bank holding…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (3) Supervisory factors The Board shall disapprove any application under this section by any company if— (A) the company…

Definitions

— Definitions (1) solely because such bank has an insured or uninsured branch in the United States. (B) An insured institution (as defined in subsection (j))…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (1) In general Notwithstanding the restrictions under…

Administration

— Administration (e) Termination of activities or ownership or control of nonbank subsidiaries constituting serious risk

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (2) shall include consideration of the competence, experience, and integrity of the officers, directors, and principal…

Securities holding companies

— Securities holding companies (2) Bank Holding Company Act of 1956 Except as the Board of Governors may otherwise provide by regulation or order, a supervised…

Interests in nonbanking organizations

— Interests in nonbanking organizations (4) shares held or acquired by a bank in good faith in a fiduciary capacity, except where such shares are held under a…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (4) in connection with underwriting or…

Definitions

— Definitions (1)(A)(iv) ]). (F) An institution, including an institution that accepts collateral for extensions of credit by holding deposits under $100,000…

Administration

— Administration (1) Notwithstanding any other provision of this chapter, the Board may, whenever it has reasonable cause to believe that the continuation by a…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (1) Approvals authorized (A) Acquisition of banks The Board may approve an application under this section by a bank…

Definitions

— Definitions it was not lawfully engaged as of March 5, 1987 , except that this subparagraph shall cease to apply to any institution which permits any…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (4) by a regulated insurance company directly engaged…

Interests in nonbanking organizations

— Interests in nonbanking organizations (9) shares held or activities conducted by any company organized under the laws of a foreign country the greater part…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets subsection shall be construed as affecting the applicability of a State law that makes an acquisition of a bank…

Definitions

— Definitions (3) any company with respect to the management of policies of which such bank holding company has the power, directly or indirectly, to exercise…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds are customers of such services of the banking entity…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2) of this section (i) ceases to be a bank holding company, or (ii) ceases to retain direct or indirect ownership or…

Administration

— Administration as the Board may direct) the ownership or control of any such bank by such company. The distribution referred to in subparagraph (A) shall be…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (2) of subparagraph (f); (v) the banking entity does…

Definitions

— Definitions (2), the application of this chapter and of section 371c of this title shall not be affected by the fact that a transaction takes place wholly or…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (1)(A) if— (i) immediately before the consummation of the acquisition for which such application is filed, the applicant…

Interests in nonbanking organizations

— Interests in nonbanking organizations (14) shares of any company which is an export trading company whose acquisition (including each acquisition of shares)…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds interest in the hedge fund or private equity fund…

Definitions

— Definitions (2) company may extend credit to a domestic office or subsidiary of such section 2(h) (2) company on terms more favorable than those afforded…

Administration

— Administration in any territory in which such proceeding is being conducted or where the witness resides or carries on business, for the enforcement of any…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (1)(A) without regard to the applicability of subparagraph (B) with respect to any State if— (i) there is a limitation…

Interests in nonbanking organizations

— Interests in nonbanking organizations subsidiary of such company which invests in an export trading company may extend credit to such export trading company…

Acquisition of bank shares or assets

— Acquisition of bank shares or assets (1)(A) which involves— (A) an acquisition of 1 or more banks in default or in danger of default; or (B) an acquisition…

Administration

— Administration (1) In general Notwithstanding any other provision of law, any regulation, order, or other action of the Board that requires a bank holding…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (13) of section 1843(c) of this title solely outside…

Definitions

— Definitions (3) any savings bank or cooperative bank which is deemed by the appropriate Federal banking agency to be a savings association under section…

Interests in nonbanking organizations

— Interests in nonbanking organizations ), which is a subsidiary of a bank holding company, or an agreement corporation, operating subject to section 25 of the…

Administration

— Administration (2) Notice to State insurance authority or SEC required If the Board requires a bank holding company, or an affiliate of a bank holding…

Definitions

— Definitions (1) Capital terms.— (A) Insured depository institutions .— With respect to insured depository institutions, the terms “well capitalized”…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (2)); (iii) would pose a threat to the safety and…

Definitions

— Definitions (4) Home state .— The term “home State” means— (A) with respect to a national bank, the State in which the main office of the bank is located…

Administration

— Administration (5) Rule of construction No provision of this subsection may be construed as limiting or otherwise affecting, except to the extent…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (4) De minimis investment (A) In general A banking…

Interests in nonbanking organizations

— Interests in nonbanking organizations and taking title to goods, when provided in order to facilitate the export of goods or services produced in the United…

Definitions

— Definitions (8) Lead insured depository institutions.— (A) In general .— The term “lead insured depository institution” means the largest insured depository…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (3), the aggregate amount of the outstanding…

Definitions

— Definitions (10) Qualified family partnership .— The term “qualified family partnership” means a general or limited partnership that the Board determines—…

Interests in nonbanking organizations

— Interests in nonbanking organizations would not be substantially at variance with the purposes of this chapter and subject to such conditions as it considers…

Definitions

— Definitions holding company that meets the requirements of section 1843( l ) (1) of this title. (q) Insurance Company .— For purposes of sections 1843 and…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (1)(G), and no affiliate of such entity, may enter…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2) of subsection (a). Any bank holding company subject to such five-year limitation on the retention of nonbanking…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (1)(G) with regard to a hedge fund or private equity…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2) of this title are permitted to engage; except that the aggregate amount of shares held under this clause (other…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (1) Banking entity The term “banking entity” means…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2), such exemption shall cease to apply to such company and such company shall divest control of each bank it controls…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (4) Proprietary trading The term “proprietary…

Interests in nonbanking organizations

— Interests in nonbanking organizations (1) shall, within 60 days after August 10, 1987 , provide the Board with the name and address of such company, the name…

Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds

— Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds (4) principally for the purpose of selling in the…

Interests in nonbanking organizations

— Interests in nonbanking organizations (2)(A) shall not be excluded for purposes of clause (ii) of such paragraph if— (A) all shares held under such clause…