Chapter 1, Acquisitions of Voting Securities or Assets: Banks and BHCs was updated to reflect the following. When merging BHCs do not engage in retail banking to a significant degree to support their banking operations, the FRB has stated that deposits are a less-reliable measure of the competitive effects of the merger. In these circumstances, the FRB has considered, in addition to deposits, the significant lines of business of the BHCs’ subsidiary banks, namely, “securities services.” The FRB identified securities services as follows: custody services; clearing, corporate trust, and depository receipts services; securities lending; transfer agent services; fund administration and accounting services; and foreign exchange. In addition, Chapter 3, Permitted Domestic Nonbank Activities was updated to indicate that the FRB has determined that disease management and mail-order pharmacy activities are permissible as complementary to the permitted financial activity of underwriting and selling health insurance as principal, agent, or broker.