Financial company that handles a variety of financial transactions and whose services are monitored by the Federal Reserve Board. The lists of financial services that a financial holding company can provide were formulated under the Gramm-Leach-Billey Act of 1999. An institution whose services encompass at least 85% of those of a banking institution may apply to be a financial holding company. In 2008, American Express, a credit card company, was changed into a financial holding company.
Related information about financial holding company:
- Financial Holding Company (FHC) Definition | Investopedia
A financial institution engaged in nonbanking activities that offers customers a wide range of financial services, including the opporunity to purchase insurance ...
- FRB: Financial Holding Companies
6 days ago ... Official US Federal Reserve Board list of bank holding companies which have elected to be financial holding companies.
- Bank Holding Companies and Financial Holding Companies ...
allowed for a BHC to declare itself a financial holding company (FHC) and thereby engage in financial activities, including securities underwriting and dealing, ...
- Financial Holding Company status: PwC
In this whitepaper, PwC discusses the pros and cons of becoming a financial holding company for a bank.
- Financial Holding Company financial definition of Financial Holding ...
In the United States, a financial company that engages in nonbanking activities. For example, a financial holding company may be a bank, but it also may offer ...
- Definition of BHCs and Banking Terms
Financial Holding Company A financial entity engaged in a broad range of banking-related activities, created by the Gramm-Leach-Bliley Act of 1999.
- Bank holding company - Wikipedia, the free encyclopedia
A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself.
- Goldman Sachs's CFO: We're A Financial Holding Company ...
Aug 20, 2009 ... New designation allows a "bank holding company" to engage in non-banking financial activities.