The term Regulation Y refers to the corporate practices that bank holding companies and state-member banks need to follow. The types of corporate practices controlled by Regulation Y include mergers and acquisitions, non-bank activities, and certain officer appointment during financially challenging times.
Through Regulation Y, the Federal Reserve is empowered to regulate certain activities of both bank holding companies as well as state-member banks. Specifically, Regulation Y outlines certain transactions to be approved by the Federal Reserve, including:
community development bank, postal savings bank, offshore bank, universal bank, Islamic bank