Bank Holding Company Act Amendments of 1970
E498704
The Bank Holding Company Act Amendments of 1970 are U.S. federal reforms that expanded regulation of bank holding companies, tightened restrictions on their non-banking activities, and strengthened oversight to limit undue concentration of financial power.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Bank Holding Company Act Amendments of 1970 canonical | 1 |
Statements (43)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
banking law ⓘ |
| aimsTo |
close regulatory loopholes in the Bank Holding Company Act of 1956
ⓘ
limit undue concentration of financial power ⓘ restrict bank holding company involvement in nonbanking businesses ⓘ strengthen federal oversight of bank holding companies ⓘ |
| amends | Bank Holding Company Act of 1956 NERFINISHED ⓘ |
| appliesToJurisdiction |
United States of America
ⓘ
surface form:
United States
|
| country |
United States of America
ⓘ
surface form:
United States
|
| enforcedBy |
Board of Governors of the Federal Reserve System
NERFINISHED
ⓘ
Federal Reserve Banks (supervisory role) NERFINISHED ⓘ |
| grantsAuthorityTo | Board of Governors of the Federal Reserve System NERFINISHED ⓘ |
| hasLongTermImpactOn |
regulatory framework for financial holding companies
ⓘ
separation of banking and commercial activities in the United States ⓘ structure of U.S. banking organizations ⓘ |
| historicalContext |
concerns about conglomerates and financial concentration in the 1960s
ⓘ
post–World War II expansion of bank holding companies ⓘ |
| introducedConcept |
Federal Reserve approval for bank holding company acquisitions
ⓘ
bank holding company registration requirements ⓘ stricter definition of bank holding company ⓘ |
| legalEffect |
expanded coverage of the Bank Holding Company Act to one-bank holding companies
ⓘ
increased federal oversight of bank holding company expansion ⓘ limited bank holding company ability to own nonfinancial firms ⓘ reduced regulatory arbitrage between banks and bank holding companies ⓘ required Federal Reserve approval for certain acquisitions by bank holding companies ⓘ tightened restrictions on permissible nonbanking activities of bank holding companies ⓘ |
| objective |
enhance safety and soundness of the banking system
ⓘ
promote competition in banking ⓘ reduce conflicts of interest between banking and commercial activities ⓘ |
| partOf | United States federal banking regulation ⓘ |
| policyArea |
antitrust in financial services
ⓘ
bank supervision ⓘ financial regulation ⓘ |
| regulates |
bank holding companies
ⓘ
nonbanking activities of bank holding companies ⓘ one-bank holding companies ⓘ |
| relatedTo |
Bank Holding Company Act of 1956
NERFINISHED
ⓘ
Glass–Steagall Act NERFINISHED ⓘ U.S. banking antitrust policy ⓘ |
| strengthensAuthorityOf | Board of Governors of the Federal Reserve System NERFINISHED ⓘ |
| subjectMatter |
limitations on nonbanking activities of bank holding companies
ⓘ
regulation of bank holding company structure ⓘ supervision of bank holding company acquisitions and mergers ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.