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The American Banking Association, SIFMA and the Institute of International Bankers proposed revisions to a Federal Reserve Board proposal to modify its regulations for determining "whether a company has the ability to exercise a controlling influence" on another company.

The Securities Industry and Financial Markets Association ("SIFMA"), the American Bankers Association ("ABA"), the Financial Services Forum ("FSF"), the Financial Services Roundtable ("FSR") and the Institute of International Bankers ("IIB") (collectively referred to as the "Associations") submitted a comment letter to the Board of Governors of the Federal Reserve System ("FRB") on complementary activities, merchant banking activities and other activities of financial holding companies ("FHCs") related to physical commodities. In the letter, the Associations stated that the public benefits of