Its regulatory jurisdiction extends only to bank-holding companies and state-chartered member banks, and not to other providers of financial services.
But the regulators instructed the bank-holding company to consolidate the entire value of the holdings on its balance sheet.
The board serves as primary regulator of the nation's largest bank-holding companies.
His father is a senior vice president and an investment manager at Amcore Financial, a bank-holding company in Rockford.
The bank-holding company said it had sold $50 million in 91-day paper at an average rate of 8.7446 percent, up from 8.5625 percent last week.
The rejection was the first in several years by the Fed of an acquisition application by a major bank-holding company.
The Providence-based bank-holding company attributed most of the layoffs to the recession in the the Northeast.
The bank-holding company is based in Washington.
Through the years, First Security Bancorp has acquired and established several financial organizations to create Arkansas' sixth largest bank-holding company.
The bankruptcy filing marked the first time a bank-holding company had taken refuge in the courts while still operating solvent banks.