World Export Group LP is a Limited Partnership established in Australia with a global network of Corporations to grow a substantial business’ throughout the World including a Bank Holding Company for International Banking for financing of the Partnership’s Overall Export / Import business and related Businesses pursuant to guidelines of Section 25A of the Federal Reserve Board Act to include (WEG):
WEG (or the “Partnership”) shall form a Bank Holding Company in the USA to be named (subject to FRB approval) World Export Private Bank (“WEP Bank”) for establishing several International WEP Bank Branches around the World dealing in the following:
Export / Import and Related Enterprises: An international specialised Export / Import business with the ability to grow the business through the World commencing from its USA Export Private Bank (WEP Bank) Developed by the Partnership’s USA World Holdings Corp (WHC).
Private Banking for Members: to provide Private Banking Services in order to arrange a Private Banking Deposit and Credit Card Facility for the Partnership’s Members with a Free Non-Recourse Home or Business Loan.
Investments in Enterprises: to support Partnership’s Visa Members’ (Existing Country Citizens or new Country pending Citizens) in a Home Country having Treaty Country relationships so as to benefit the Country’s GDP as Visa Members generally with the Partnership.
Developing Business Resorts Globally: within Treaty Countries to provide homes and businesses for Visa Members in the Specific Business Resorts selected.
In the United States, a bank holding company, as provided by the Bank Holding Company Act of 1956 (12 U.S.C. § 1841(a)(2)(A) et seq.), is broadly defined as “any company that has control over a bank”. All bank holding companies in the US are required to register with the Board of Governors of the Federal Reserve System.
The Federal Reserve Board of Governors, under Regulation Y (12 C.F.R. Pt. 225) has responsibility for regulating and supervising bank holding company activities, such as establishing capital standards, approving mergers and acquisitions and inspecting the operations of such companies. This authority applies even though a bank owned by a holding company may be under the primary supervision of the Office of the Comptroller of the Currency or the Federal Deposit Insurance Corporation.
Bank holding company status
Becoming a bank holding company makes it easier for the firm to raise capital than as a traditional bank. The holding company can assume debt of shareholders on a tax free basis, borrow money, acquire other banks and non-bank entities more easily, and issue stock with greater regulatory ease. It also has a greater legal authority to conduct share repurchases of its own stock.
The downside includes responding to additional regulatory authorities, especially if there are more than 2,000 shareholders (note: prior to the Jobs Act or Jumpstart Our Business Startup Act, the shareholder number was 300), at which point the bank holding company is forced to register with the Securities and Exchange Commission. There are also added expenses of operating with an extra layer of administration.