Federal Reserve System January 21, 2014 – Federal Register Recent Federal Regulation Documents

Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
Document Number: 2014-01007
Type: Notice
Date: 2014-01-21
Agency: Federal Reserve System, Agencies and Commissions
Complementary Activities, Merchant Banking Activities, and Other Activities of Financial Holding Companies Related to Physical Commodities
Document Number: 2014-00996
Type: Proposed Rule
Date: 2014-01-21
Agency: Federal Reserve System, Agencies and Commissions
The Board of Governors of the Federal Reserve System (Board) is issuing this advance notice of proposed rulemaking (ANPR) inviting public comment on various issues related to physical commodity activities conducted by financial holding companies and the restrictions imposed on these activities to ensure they are conducted in a safe and sound manner and consistent with applicable law. The activities under review include physical commodities activities that have been found to be ``complementary to a financial activity'' under section 4(k)(1)(B) of the Bank Holding Company Act (BHC Act), investment activity under section 4(k)(4)(H) of the BHC Act, and physical commodity activities grandfathered under section 4(o) of the BHC Act. The Board is inviting public comment as part of a review of these activities for the reasons explained in the ANPR, including the unique and significant risks that physical commodities activities may pose to financial holding companies, their insured depository institution affiliates, and U.S. financial stability.