In the case of a notification of the exercise or acquisition or retention of shares of a company operating or retaining an activity covered in points (c) 8) or (a) (a) or in a complementary activity referred to in point (k) (1) (B), which was not previously authorized by the Regulation, the Commission may extend the notice period for this subsection by 90 days. The Board of Directors may extend the deadline with the agreement of the bank holding company, which submits the notice in accordance with this subsection. In a notice issued under this subsection, the Board of Directors considers whether the performance of the activities of a bank holding company or subsidiary of that company can reasonably assume that it brings benefits to the public, such as increased comfort, increased competition or efficiency gains that predominate over potential negative effects, such as inappropriate concentration of resources. , reduced or unfair competition. conflicts of interest, poor banking practices or risks to the stability of the U.S. banking or financial system. (c) (8) pub. L. 97-320, No. 118 (a), 601, inserted specification, that the provision of insurance is not closely related to the banking sector or to the management or control of banks for the purposes of this subsection, except for these subsection.
(A) bis (G) and the subsequent condition with respect to the sale of life insurance or annuities, and the inserted provisions relating to the exemption from the obligation of termination and hearing in case of emergency. To the extent that such a measure is not fundamentally contrary to the objectives of this chapter and, under the conditions it deems necessary to protect the public interest, the Committee may, after consultation with any bank holding company that controlled a bank prior to 1 July, grant exemptions from the provisions of this section. , 1968, and then did not take control of another bank to avoid (1) long-lasting commercial relationships without affecting the banks or communities concerned, or (2) to avoid forced sales of small local banks to buyers who are not representative of community interests in the same way, or (3) to enable the maintenance of banks that are so small and so small in relation to the general interests of the company. holding with respect to the company`s overall holdings in the banking market, which aims to minimize the likelihood that the bank`s lending or denied credit powers may be influenced by the desire to promote the holding company`s other interests. However, the Federal Reserve has never publicly revoked a company`s HCF status. Instead, the Fed generally orders a non-compliant HSF to enter into a Section 4 (m) agreement in which the company undertakes to correct its defects within a specified time frame.