Non-Banking Activities (Post Notice)

An existing BHC that meets qualifying criteria (Section 225.22(a)) may engage de novo in permissible non-banking activities listed in Section 225.28 of Regulation Y without seeking prior approval of the Federal Reserve. This procedure is not available for chartering a savings association or other non-bank insured depository institution, or engaging de novo in a non-banking activity via a joint venture.

Sections 225.21-225.28 of Regulation Y

None required

A letter that includes:

1. a full description of the activity;

2. the identity of the company(s) engaged in the activity;

3. certifying that the activity will be conducted in accordance with the Board’s orders and regulations; and

4. certifying that Filer meets all of the criteria applicable for a post-commencement notice

Form FR Y-10 –Report of Changes in Organizational Structure  

Not applicable

Letter must be provided within 10 business days following start of such de novo activity.