Epstein Secrets

ption of the Preferred Stock is subject to our receipt of any required prior approvals from the Board of Governors of the Federal Reserve System. or the " Federal Reserve Board." or any other regulatory authority. Our redemption of the Preferred Stock will cause the redemption of the corresponding depositary shares. Neither

onsidered to exercise a " controlling influence" over JPMorgan Chase. may then be subject to regulation as a bank holding company in accordance with the Bank Holding Company Act. In addition, (I) any other bank holding company may be required to obtain the prior approval of the Federal Reserve Board to acquire or retain 5% o

tter, please contact Thomas Corsi or Terry Browne of the Board's Legal Division. Very truly yours, William W. Wiles Secretary of the Board cc: Federal Reserve Bank of Atlanta Legal Topics: For related research and practice materials, see the following legal topics: Banking LawBank ActivitiesSecuritiesNonbank

ance subsidiaries of C&S and Sovran." 5. To reflect the fact that Sovran Trading Company/Central South was acquired pursuant to section 4(c)(14) of the Bank Holding Company Act (12 U.S.C. § 1843(c)(14)) ("BI-IC Act"), and not pursuant to section 4(c)(8) of the BHC Act (12 U.S.C. § 1843(c)(8)), the reference to this company

as defined in Section la(21) of the CEA and includes: an "agreement corporation" operating under the fifth undesignated paragraph of section 25 of the Federal Reserve Act; (ii) an "Edge Act corporation" organized under section 25A of the Federal Reserve Act: iv CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-S

redominantly engaged in activities that are in the business of banking, or in activities that are financial in nature, as defined in Section 4(k) of the Bank Holding Company Act and: (i) is either: (A) organized as a bank, as defined in section 3(a) of the Federal Deposit Insurance Act, the deposits of which are insured by

fined in Section la(21) of the CEA and includes: (i) an "agreement corporation" operating under the fifth undesignated paragraph of section 25 of the Federal Reserve Act; (ii) an "Edge Act corporation" organized under section 25A of the Federal Reserve Act; (iii) an institution that is regulated by the Farm Credit

or in activities that are financial in nature, as defined in Section 4(k) of the Bank Holding Company Act and: (i) is either: (A) organized as a bank, as defined in section 3(a) of the Federal Deposit Insurance Act, the deposits of which are insured b

nds IBE pursuant to the IBE statute, may engage directly in—or establish or acquire subsidiaries that engage in—non-banking activities determined by the Federal Reserve Board to be closely related to banking as to be a proper incident thereto. See 12 U.S.C. 1843(c)(8). Non-banking activities that the Federal Reserve Board

ly or indirectly, by a bank holding company or by a foreign office or subsidiary of a United States bank under applicable United States law. Under the Bank Holding Company Act of 1956, as amended (the "BHC Act"), a bank holding company ("BHC") in the United States, and thus a Virgin Islands IBE pursuant to the IBE statute