Sen. Rounds introduces bill to extend holding period for merchant banking investments
U.S. Sen. Mike Rounds (R-SD) introduced legislation this week to expand the holding period for merchant banking investments from 10 to 15 years. In 2001, per the Bank Holding Company Act of 1956, the Federal Reserve Board (Fed) and the Secretary of the Treasury approved a joint final rule governing merchant banking, which involves acquiring equity in nonfinancial companies in exchange for capital investment. The rule allowed bank holding companies to declare themselves a financial holding com...
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