HomeDefinitionsCompareDebt Ultra vires activitiesThe financial definition for Ultra vires activities:Corporate actions and operations that are not sanctioned by corporate charter, sometimes leading to shareholder lawsuits. Similar MatchesGrandfathered activitiesGrandfathered activitiesNonbank activities, some of which would normally not be permissible for bank holding companies and foregin banks in the United States, but which were acquired or engaged in before a particular date. Such activities may be continued under the "grandfather" clauses of the Bank Holding Company Act and the International Banking Act. Loss control activitiesLoss control activitiesActions that an insured person or company takes at the instigation of an insurance company in order to prevent accidents or losses. Permissiable nonbank activitiesPermissiable nonbank activitiesFinancial activities closely related to banking that may be engaged in by bank holding companies (BHCs), either directly or through nonbank subsidiaries. For example, a BHC might own finance companies or engage in mortgage banking. The Federal Reserve Board determines which activities are closely related to banking. Before making such activities permissible, the Board must determine that performance of the activities by bank holding companies is in the public interest. Further SuggestionsShort run operating activitiesClick to compare definitions of Ultra vires activities Click to view definitions beginning ul |