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Definitions of “Predominantly Engaged In Financial Activities” and “Significant” Nonbank Financial Company and Bank Holding Company

Fed · final-rule · Published 2013-04-05 · Effective 2013-05-06 · 78 FR 20756

Document

Document number
2013-07688
Federal Register citation
78 FR 20756
CFR reference
12 CFR 242
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Reserve System
Publication date
2013-04-05
Effective date
2013-05-06
Docket
Regulation PP

Abstract

The Board is adopting this final rule to establish, for purposes of Title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act" or "Act"), the requirements for determining if a company is "predominantly engaged in financial activities"; and definitions of the terms "significant nonbank financial company" and "significant bank holding company." These terms are relevant to various provisions of Title I of the Dodd-Frank Act, including section 113, which authorizes the Financial Stability Oversight Council ("Council") to designate a nonbank financial company for supervision by the Board if the Council determines that the nonbank financial company could pose a threat to the financial stability of the United States.

Source

Authoritative
Federal Register document
Machine
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