The New Year will bring an important update to a Federal Reserve Policy Statement that will make it easier for about 600 bank and S&L holding companies to raise capital. H.R. 3329, signed by President Obama on Dec. 18, provides the Federal Reserve the legal authority to increase the small bank holding company threshold to $1 billion in consolidated assets from $500 million. It also expands the policy to include S&L holding companies.
Holding companies covered by the policy statement are exempt from the Basel III capital requirements and, generally, can borrow . . .
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