bank holding company

bank holding company
USA
A bank holding company is any entity that meets any of the following requirements:
• Directly or indirectly owns, controls or has the power to vote 25% or more of a class of a bank's securities.
• Controls in any manner the election of a majority of a bank's directors or trustees.
• The Federal Reserve Board of Governors determines, after notice and opportunity for hearing, that the entity directly or indirectly exercises a controlling influence over a bank's management or policies.
To become a bank holding company, a company must obtain the consent of the Federal Reserve Board of Governors and must comply with the conditions and requirements set out in the Bank Holding Company Act of 1956, as amended.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Bank holding company — A bank holding company is a company with significant ownership of one or more banks. United States A bank holding company, under the laws of the United States, is any entity that directly or indirectly owns, controls, or has the power to vote 25% …   Wikipedia

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  • Bank Holding Company Act of 1956, as amended — (BHC Act) USA The federal statute regulating the acquisition, ownership and control of banks by companies. The BHC Act consists of three primary sections: • Section 2 defines the BHC Act s operative terms, including bank …   Law dictionary

  • Bank Holding Company Act — of 1956, as amended (BHC Act) USA The federal statute regulating the acquisition, ownership and control of banks by companies. The BHC Act consists of three primary sections: • Section 2 defines the BHC Act s operative terms, including bank …   Law dictionary

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  • Bank Holding Company Act of 1956 — The Bank Holding Company Act of 1956 (usc|12|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… …   Wikipedia

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  • Bank Holding Company Act — Federal law which governs any company which directly or indirectly owns or controls, with power to vote, more than 25% of voting shares of each of two or more banks. See 12 U.S.C.A. No. 184 et seq …   Black's law dictionary

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