The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
7/26/24, 1:51 PM FRB: Press Release -- Amendment to Regulation Y (Bank Holding Companies and Change in Bank Control) -- December 13, 2000 Release Date: December 13, 2000 For immediate release The Federal Reserve Board today requested public comment on a proposal that would amend Regulation Y (Bank Holding Companies and Change in Bank Control). The proposal would permit: all bank holding companies, as an activity that is closely related to banking, to conduct a greater amount of nonfinancial data processing in connection with processing financial data; and financial holding companies, as an activity that is complementary to financial activity, to invest in companies engaged in certain types of data storage, web hosting and data processing advisory activities, so long as the investment was related to the provision of financial products and services. The proposal also requests comment on whether the Board should permit financial holding companies to invest in companies that: develop new technologies that might support the sale and availability of financial products and services; provide communications links for the delivery of financial products and services; and/or engage in the electronic sale and delivery of products and services that include, but are not limited to, financial products and services. Comment is requested by February 16, 2001. The Board�s notice is attached. Attachment (33 KB PDF) 2000 Banking and consumer regulatory policy Home | News and events Accessibility Last update: December 13, 2000 https://www.federalreserve.gov/boarddocs/press/boardacts/2000/200012133/default.htm 1/1