A bank holding company is a company that controls one or more banks. They can be either diversified or non-diversified. A diversified bank holding company has several different subsidiaries that offer different products and services, while a non-diversified bank holding company only owns one bank.

The Federal Reserve Board must approve any changes in ownership of a bank holding company. To become a bank holding company, a company must meet certain criteria, including having total consolidated assets of $500 million or more and controlling at least one bank.

Bank holding companies are regulated by the Federal Reserve Board and are subject to periodic examination. The Bank Holding Company Act of 1956 gives the Federal Reserve Board authority to oversee these firms and take action if necessary to protect consumers and the banking system.

Some of the largest bank holding companies in the United States are JPMorgan Chase, Bank of America, and Wells Fargo. These companies control several subsidiary banks that offer a variety of products and services. These products and services can include everything from personal banking to investment banking and commercial lending.

Bank holding companies play an important role in our financial system. They provide stability and continuity for banks and their customers. By consolidating multiple banks into one entity, bank holding companies can reduce risk and create efficiencies. This helps to ensure that banks can continue to meet the needs of their customers even during times of economic turmoil.