GMAC LLC said Monday that it has sweetened the terms of a debt-exchange offer that it has called crucial to getting approval to become a bank holding company.

The Federal Reserve Board has told the finance company it must raise its regulatory capital to $30 billion, from about $9 billion on Sept. 30, for its application for a bank holding conversion to be approved. GMAC has tried to boost its capital by repurchasing about $38 billion of its debt.

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