multibank holding company

Definition

A company that is a major shareholder of at least two banks. Multibank holding companies (MHC) are one of the companies monitored by the Federal Reserve board, requiring them to file in periodic financial statements due to their corporate status. MHC is also regulated by the Multibank Holding Company Act (1956), which has sets of standards that control these companies' activities. Examples include NBT Ban Corp, Arrow Financial Corp, Key Corp and New York Community Bancorp, Inc.
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