The various federal and state options for chartering an insured depository institution can be bewildering, even for experienced financial services providers. Venable regularly assists clients when chartering new institutions, engaging in reorganizations, or restructuring and implementing business strategies.
We advise on regulatory applications, including new charters, deposit insurance, mergers, change of control, opening and closing branches, business plan modifications, restructuring or reorganization, and, when necessary, permission to make changes in boards and management. We also provide counsel with regard to regulatory capital issues, including the implications of Basel III, changes imposed by the Dodd-Frank Act; the ability to count various forms of equity and debt instruments as capital; and questions relating to appropriate reserves and minimum acceptable capital based on evaluations of risk.
Our attorneys advise financial institutions on oversight of audits and changes made in specific regulatory accounting rules such as the accounting for special-purpose vehicles, marking assets to market values, and efforts to transition U.S. institutions to the International Financial Reporting Standards (IFRS). Venable attorneys also provide guidance regarding regulatory limitations on activities permissible for banks, thrifts, bank holding companies, thrift holding companies, and financial holding companies.