Catch 22: Aid gave GMAC funds but curbs loans to GM
Tags: GMAC Inc.; GMAC Bank (Company); BANK holding companies -- United States; HULL, Robert; BANKING law -- United States; BAILOUTS (Finance)
Related Articles
- Reviving The Banking-Commerce Debate. Sloan, Steven // American Banker;11/21/2008, Vol. 173 Issue 226, p1
The article examines the request by GMAC Financial Services to the U.S. Federal Reserve Board to be classified as a bank holding company, which would make the financial services firm eligible for funds from the bailout program for that industry created in October, 2008. GMAC was once a part of...
- Giving GMAC Aid Would Be Big Mistake. Wilmarth, Arthur E. // American Banker;12/3/2008, Vol. 173 Issue 232, p10
No abstract available.
- GMAC Pressed as Liquidity Aid Eyed. // American Banker;4/15/2009, Vol. 174 Issue 71, p11
This article reports that the bank holding company General Motors Acceptance Corp. (GMAC) LLC, the former financing unit of the automobile manufacturer General Motors Corp., is seeking approval from the U.S. Federal Deposit Insurance Corp. (FDIC) to sell its government-guaranteed debt through...
- FED REQUIRES BIG-BANK CAPITAL PLANS. // Pratt's Bank Law & Regulatory Report;2011, Vol. 17 Issue 12, p16
The article presents the final rule issued by the Federal Reserve Board (Fed) that will require U.S. bank holding companies with total consolidated assets of 50 U.S. billion dollars or more to submit annual capital plans for review. The Fed will carry out supervisory stress test level as part of...
- Federal Reserve Board Adopts New Policy Statement on Minority Investments. // Venulex Legal Summaries;2008 Q3, following p6
The article reports on the release of a policy statement governing uncontrolling, minority investments in banks and bank holding companies by the U.S. Federal Reserve Board. The statement liberalizes rules on determing whether a minority investor control an organization under the amended Bank...
- Orders Issued under Bank Holding Company Act. Frierson, Robert deV. // Federal Reserve Bulletin;Mar2011, Vol. 97 Issue 1, p1
The article reports on the proposal of SKBHC Holdings LLC in California for the formation of bank holding company under section 3 of the Bank Holding Act (BHC Act) and acquisition of Starbuck Bancshares Inc. It discusses the financial, managerial resources and future prospects of the companies...
- Financial Crisis Drives Remaining Independent Investment Banks to Federal Reserve Regulation. // Venulex Legal Summaries;2008 Q3, following p2
The article reports on the approval of applications of Goldman Sachs Group Inc. and Morgan Stanley to become bank holding companies under the section 3 of the Bank Holding Company Act by the U.S. Federal Reserve Board on September 21, 2008. But the approval does not contain invocation of an...
- GMAC Unit's Commitments Down. // American Banker;12/23/2008, Vol. 173 Issue 246, p8
The article focuses on a December 2008 announcement from an official from GMAC Bank, the depository branch of GMAC LLC. In the announcement the official indicated that warehouse commitments at GMAC Bank declined 58% in 2008. The official also announced that the bank has scaled back its business...
- GMAC forming auto financing bank in Midvale. Rattle, Barbara // Enterprise/Salt Lake City;2/23/2004, Vol. 33 Issue 35, p1
Reports on the proposal of the General Motors Acceptance Corp. to launch the automobile financing entity GMAC Automotive Bank in February 2004. Function of the proposed entity; Proposed board of directors and senior executives of the financial institution.
