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New York
Recent Activity
Gramm-Leach merged two long standing policy objectives: i) broadening the scope of activities in which BHC conglomerates could engage (thereby promoting profitability); and ii) preserving the segregation of bank entities within those conglomerates. It had nothing to say about BHCs engaging in swaps (which were simply an unregulated product pre-DFA). However I think there's a good policy argument for requiring BHC's engaged in swaps to adopt FHC status (ie subject to higher regulatory capital minimums) - haven't heard anyone raise this though.
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Jul 23, 2012