National Bank Legislation: Hearing Before Subcommittee No. 1 of the Committee on Banking and Currency, House of Representatives, Eighty-seventh Congress, First Session, on H.R. 7796 ... and S. 1771 ... September 12, 1961 |
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Common terms and phrases
70 percent aggregate amount aggregate real estate amend certain lending American Bankers Association authorize a foreign Bank of America Bank of Boston Banking and Currency banking practices BERGMANN bill Board of Governors branch to engage branches in foreign branches of American branches of national Brazil BRENT SPENCE Calhoun capital and surplus CARDON CHAIRMAN Committee on Banking Comptroller Cong CONGRE LIBRARY CONGRESS LIBRARY CONGRESS THE LIBRARY D.C. DEAR dependencies or insular estate and construction estate loan limit exports favorable Federal Deposit Insurance Federal Reserve Act Federal Reserve Board Federal Reserve System foreign banking foreign branches foreign commerce foreign countries gray areas guarantee House of Representatives JOHNSON legislation lending limitations LIBRARY OF CONGRES LIBRARY OF CONGRESS limitations on real MALCOLM MCDONOUGH MOORHEAD national bank branches Philippines proposed real estate loan real estate mortgage regulations residential or farm REUSS savings deposits SCRANTON section 25 Senate Thank unimpaired capital United Washington York
Popular passages
Page 11 - ... chartered or incorporated under the laws of the United States or of any State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States...
Page 4 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation...
Page 11 - CHANGES IN EXISTING LAW MADE RY THE BILL, AS REPORTED In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows (existing law proposed to be omitted is enclosed in black brackets, new matter is printed in italic...
Page 10 - The Committee on Banking and Currency, to whom was referred the bill (HR 6227) to provide for the control and regulation of bank holding companies, and for other purposes, having considered the same, report favorably thereon without amendment and recommend that the bill do pass.
Page 1 - ... shall not be considered as loans secured by real estate within the meaning of this section but shall be classed as ordinary commercial loans whether or not secured by a mortgage or similar lien on the real estate upon which the building or buildings are being constructed...
Page 13 - State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions.
Page 11 - Any member bank may accept drafts or bills of exchange drawn upon it having not more than three months' sight to run, exclusive of days of grace, drawn under regulations to be prescribed by the Board of Governors of the Federal Reserve System by banks or bankers in foreign countries or dependencies or insular possessions of the United States for the purpose of furnishing dollar exchange as required by the usages of trade in the respective countries, dependencies, or insular possessions.
Page 13 - States; and generally to exercise such powers as are incidental to the powers conferred by this Act or as may be usual, in the determination of the Federal Reserve Board, in connection with the transaction of the business of banking or other financial operations in the countries, colonies, dependencies, or possessions in which it shall transact business and not inconsistent with the powers specifically granted herein.
Page 1 - System, the Chairman of the Federal Deposit Insurance Corporation, the Comptroller of the Currency and the Administrator of the National Credit Union Administration participated under an informal memorandum of agreement.
Page 10 - Such regulations shall not authorize a foreign branch to engage in the general business of producing, distributing, buying or selling goods, wares, or merchandise; nor, except to such limited extent as the Board may deem to be necessary with respect to securities issued by any "foreign state...