...exempted from prohibitions of this section shares of any bank holding company the activities of which were determined to be so closely related to banking or...controlling banks as to be a proper incident thereto, which further provided that for purposes of this subsection it was not closely related to banking or...

...advisor activities. (a) Effective February 1, 1972. the Board of Governors amended §225.4(a) §225.125 of Regulation Y to add "serving as investment adviser,...21, and 32 of the Banking Act of 1933 (12 USC 24, 3T7, 878, 78) (sometimes referred to hereinafter as the "Glass-Steagall Act provisions") and the US...

...225.4(a) of Regulation Y to add specified insurance agency activities to the list of activities the Board has determined to be so closely related to banking...controlling banks as to be a proper incident thereto. In the course of administering this regulation, a number of questions have arisen concerning the scope...

...of the Federal Reserve System has determined, by order or regulation in effect on November 12, 1999, to be so closely related to banking or managing or...controlling banks as to be a proper incident thereto (subject to the same terms and conditions contained in the order or regulation, unless the order or...

...shall be submitted to the Board in writing, and shall contain evidence that the proposed activity is so closely related to banking or managing or controlling banks as to be a proper incident thereto. (3) Publication. The Board shall publish in the FEDERAL REGISTER notice that it is considering the...

...rehabilitation and development of low-income areas." The Board included that activity among those the Board has determined to be so closely related to banking or managing or controlling banks as be a proper incident thereto, in order to permit bank holding companies to fulfill their civic responsibilities....

...which presently allows bank holding companies to acquire the shares of a company engaged in activities "so closely related to banking or managing or controlling banks as to be a proper incident thereto." In determining whether to allow a bank to engage in any such activity the Federal Reserve Board is...

...the Federal Reserve Board. Under this legislation any company acquired by a bank holding company must be "so closely related to banking or managing or controlling banks as to be a proper incident thereto." Thus, the contours of future expansion of multi-corporate banking organizations will be limited. Non-banking...

...which the Board after due notice and opportunity for hearing has determined (by order or regulation) to be so closely related to banking or managing or...controlling banks as to be a proper incident thereto. In determining whether a particular activity is a proper incident to banking or managing or controlling...

...essentially the language of the 1956 Act test to be applied in approving bank-related activities, ie "so closely related to banking or managing or controlling banks as to be a proper incident thereto", with some minor modifications in the language of this test. In addition, it added a public benefits...