Regulatory Alerts2024-08-12 | 2024-17637Added · Updated
Parent Companies of Industrial Banks and Industrial Loan Companies
The Federal Deposit Insurance Corporation proposes amendments to its regulations governing parent companies of industrial banks and industrial loan companies. The rule revises the definition of covered entities to include Home Owners’ Loan Act conversions and change-of-control transactions, while clarifying written commitments and establishing new risk-assessment criteria for parent organizations. These changes ensure that industrial banks operating under non-Federal Reserve-supervised parents maintain sufficient financial strength and operational independence to protect the Deposit Insurance Fund.
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