Federal Reserve Expands Section 20 Powers to Include Corporate Debt Securities
The Federal Reserve Board dramatically expands Section 20 subsidiary powers, approving underwriting of corporate debt securities and increasing the revenue limit from bank-ineligible activities from 5% to 10%. This decision allows JP Morgan to become the first commercial bank to underwrite a …
Federal Reserve Board
JP Morgan & Co.
Section 20 subsidiaries
section-20-expansion
corporate-debt-underwriting
jp-morgan
regulatory-capture
glass-steagall-erosion
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