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Statements

Subject Item
dbr:Bank_Holding_Company_Act
rdf:type
yago:Group100031264 yago:Law108441203 dbo:Band yago:Legislation106535222 yago:CivilLaw108453464 yago:Collection107951464 yago:Abstraction100002137
rdfs:label
Bank Holding Company Act
rdfs:comment
The Bank Holding Company Act of 1956 (12 U.S.C. § 1841, et seq.) is a United States Act of Congress that regulates the actions of bank holding companies. The original law (subsequently amended), specified that the Federal Reserve Board of Governors must approve the establishment of a bank holding company and that bank holding companies headquartered in one state are banned from acquiring a bank in another state. The law was implemented, in part, to regulate and control banks that had formed bank holding companies to own both banking and non-banking businesses. The law generally prohibited a bank holding company from engaging in most non-banking activities or acquiring voting securities of certain companies that are not banks.
dcterms:subject
dbc:Separation_of_investment_and_retail_banking dbc:United_States_federal_banking_legislation
dbo:wikiPageID
4668616
dbo:wikiPageRevisionID
1106688284
dbo:wikiPageWikiLink
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n9:1127 n9:984 n14:index.html n17:h44 n18:s139 n20:STATUTE-70-Pg133.pdf
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dbp:titleAmended
12
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dbp:citePublicLaw
84
dbp:effectiveDate
1956-05-09
dbp:introducedin
House
dbp:passedbody
House Senate
dbp:passeddate
1955-06-14 1956-04-24
dbp:passedvote
371 58
dbp:publicLawUrl
n20:STATUTE-70-Pg133.pdf
dbp:shorttitle
Bank Holding Company Act
dbp:signeddate
1956-05-09
dbp:signedpresident
dbr:Dwight_D._Eisenhower
dbp:enactedBy
84
dbp:nickname
Bank Holding Company Act of 1956
dbo:abstract
The Bank Holding Company Act of 1956 (12 U.S.C. § 1841, et seq.) is a United States Act of Congress that regulates the actions of bank holding companies. The original law (subsequently amended), specified that the Federal Reserve Board of Governors must approve the establishment of a bank holding company and that bank holding companies headquartered in one state are banned from acquiring a bank in another state. The law was implemented, in part, to regulate and control banks that had formed bank holding companies to own both banking and non-banking businesses. The law generally prohibited a bank holding company from engaging in most non-banking activities or acquiring voting securities of certain companies that are not banks. The interstate restrictions of the Bank Holding Company act were repealed by the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (IBBEA). The IBBEA allowed interstate mergers between "adequately capitalized and managed banks, subject to concentration limits, state laws and Community Reinvestment Act (CRA) evaluations." In the United States, financial holding companies continue to be prohibited from owning non-financial corporations in contrast to Japan and continental Europe, where this arrangement is common. Private equity firms, which solicit funds but are not classified as banks and, more importantly, are not backstopped by the Federal Deposit Insurance Corporation, may acquire large ownership positions in a number of non-bank corporations. That is not a problem since private equity firms are not banks.
dbp:longtitle
An Act to define bank holding companies, control their future expansion, and require divestment of their nonbanking interests.
dbp:othershorttitles
Distributions Pursuant to Bank Holding Company Act of 1956
dbp:sectionsCreated
§ 1841 et seq.
gold:hypernym
dbr:Act
prov:wasDerivedFrom
wikipedia-en:Bank_Holding_Company_Act?oldid=1106688284&ns=0
dbo:wikiPageLength
8870
foaf:isPrimaryTopicOf
wikipedia-en:Bank_Holding_Company_Act