AMENDMENT #2
SHELBY AMENDMENT
TO AMEND THE BANK HOLDING COMPANY ACT OF 1956


Bank Holding Company Act of 1956

Section 2(a)(5)(E)(i) of the Bank Holding Company Act (12 U.S.C. 1841(a)(5)(E)(i)) is amended by inserting "one or more" after "wholly owned by".


Explanation

Current law contains an exemption from the registration requirement of the Bank Holding Company Act for a group of thrift institutions to operate a limited purpose or so-called bankers bank provided the bank restricts its corporate business and does not do any business with the general public. This amendment would simply permit a single thrift institution to establish and operate such an institution subject to the same limitations contained in current law, i.e., no retail customer operations.


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