Board of Governors of the Federal Reserve System:

Bank Holding Companies and Change in Bank Control (Regulation Y)

OGC-97-28: Published: Mar 12, 1997. Publicly Released: Mar 12, 1997.

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Pursuant to a legislative requirement, GAO reviewed the Federal Reserve System's Board of Governors' new rule on bank holding companies and change in bank control. GAO noted that the: (1) final rule would amend Regulation Y to improve the competitiveness of bank holding companies by eliminating unnecessary regulatory burden and operating restrictions and streamlining the application and notice process; and (2) Board of Governors complied with applicable requirements in promulgating the rule.

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