Sen. Bernie Sanders (I-VT) has introduced legislation he believes would break up the largest bank holding companies, doing so in concert with his announcement entering the Democratic primaries for the 2016 presidential election. Although the bill does not clearly define covered BHCs, its goal is to separate subsidiary insured depositories from parent organizations as well as to strictly bar derivatives operations within covered parent BHCs and subsidiary banks. Covered BHCs would also be barred from using any FRB emergency-liquidity support, including any new facilities that comply with the limits included in the Dodd-Frank Act.
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