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For GMAC to meet the Federal Reserve's requirements to become a banking holding company, it needs to convert 75percentt of its $38 billion in debt into stock.
The company applied for banking holding company status about two or three weeks ago, according to a person with direct knowledge of the situation.
TRUSTCO BANK CORP NY, Schenectady, N.Y., a banking holding company, raised its bid for Cohoes Bancorp Inc., New York, to $18 a share, topping by 12.5percentt a previously rejected offer of $16.
They may also be tempted by "lazy banking", holding safe government securities, which should increase in price if the RBI keeps cutting rates.If the banks insist on buying such bonds, then it will fall to the government to borrow and spend what is needed to keep India's economy turning.
Australia, Canada and Japan remain mainstays in the top-25 in banking, holding eight spots in sum.
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Both are bank holding companies.
Bank holding companies, financial companies and non-bank SIFIs.
§ 7.1009 National bank holding collateral stock as nominee.
This means cost to the bank holding company.
(Banks holding troubled countries' bonds would also suffer).
Cardinal Bankshares is regulated as a bank holding company.
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