Buffett's Berkshire asks Fed to be allowed to buy more Bank of America shares

Warren Buffett's Berkshire Hathaway wants to add to its Bank of America holdings.

The problem is the 10 percent threshold.

Berkshire filed an application with the Fed this month, first reported by Bloomberg.

Berkshire already has a 9.96 percent stake and assured the regulator that it will passively invest in the bank and will not try to force a change in strategy or corporate structure, according to Reuters.

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The Federal Reserve only allows investors to take double-digit stakes as long as the buyer won't try to force a controlling influence.

Berkshire has large positions in financial services, including American Express, Wells Fargo and  JPMorgan Chase & Co.

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Berkshire wanted to do the same thing with share of Wells Fargo in 2007, but withdrew after the bank was beset by a scandal.