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Goldman Sachs and Morgan Stanley got approval on Sunday to become bank holding companies

Goldman Sachs and Morgan Stanley got approval on Sunday to become bank holding companies regulated by the U.S. Federal Reserve, a move that ends the traditional investment banking model.The move, which will enable the firms to take deposits and buy retail banks more easily in the latest government step to restore calm to chaotic financial markets, puts the last two major U.S. investment banks squarely within the government safety net.Recently, bank holding companies have not had the difficulties that investment banks have had in securing funds.

At the same time, Goldman and Morgan will now have capital requirements.

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