To Amend the Bank Merger Act of 1960: Hearings Before the Subcommittee on Domestic Finance ... Eighty-ninth Congress, First Session, on S. 1698 (and Related Bills), an Act to Establish a Procedure for the Review of Proposed Bank Mergers So as to Eliminate the Necessity for the Dissolution of Merged Banks, and for Other Purposes, Volumes 1-2 |
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Page 3
... course , pure asset acquisitions are not subject to section 7 of the Clayton Act . But no one has ever doubted these 75 years that the Sherman Act applied or the Clayton Act either , except by some and only during the past few months ...
... course , pure asset acquisitions are not subject to section 7 of the Clayton Act . But no one has ever doubted these 75 years that the Sherman Act applied or the Clayton Act either , except by some and only during the past few months ...
Page 9
... course , gives careful consideration to these reports in deter- mining whether to approve or disapprove applications under the statute . However , the legislative history of the act stresses that the reports are limited to the ...
... course , gives careful consideration to these reports in deter- mining whether to approve or disapprove applications under the statute . However , the legislative history of the act stresses that the reports are limited to the ...
Page 22
... course , on that , for final information . Mr. ANNUNZIO . My time has expired and I will pursue it further with other witnesses . Thank you , Mr. Martin . The CHAIRMAN . Mr. Clawson ? Mr. CLAWSON . Thank you , Mr. Chairman . Mr. Martin ...
... course , on that , for final information . Mr. ANNUNZIO . My time has expired and I will pursue it further with other witnesses . Thank you , Mr. Martin . The CHAIRMAN . Mr. Clawson ? Mr. CLAWSON . Thank you , Mr. Chairman . Mr. Martin ...
Page 24
... course . Now , out of the hundreds of Federal agencies , I think they are the only three that do not come to Congress for their appropriations . They have gotten to the point of claiming inde- pendence , like the Federal Reserve . The ...
... course . Now , out of the hundreds of Federal agencies , I think they are the only three that do not come to Congress for their appropriations . They have gotten to the point of claiming inde- pendence , like the Federal Reserve . The ...
Page 25
... course , they had no power to do it at all . Then when the depression came along and Members of Congress were willing to vote for anything anyone claimed would get us out of the depression or make times easier , all of this banker ...
... course , they had no power to do it at all . Then when the depression came along and Members of Congress were willing to vote for anything anyone claimed would get us out of the depression or make times easier , all of this banker ...
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Common terms and phrases
acquisition action amendment American Bankers Association ANNUNZIO antitrust laws application approval assets Attorney Bank & Trust bank holding company Bank Merger Act banking agencies Banking and Currency Banking factors believe bill branch BROCK CHAIRMAN CLAWSON Clayton Act commercial banks committee competitive factors Comptroller Comptroller's Congress consummated Convenience and needs corporation DAANE decision Department of Justice deposits divestiture effect exempt FDIC Federal Reserve Board Federal Reserve System GETTYS going Government HANNA hearings industry involved Justice Department KATZENBACH legislation Lexington loans MARTIN ment merged bank MINISH National Bank ODLIN Office opinion Patman percent President problem public interest question RANDALL record regulation regulatory agencies ruling SAXON Security Security Trust Co Senator KENNEDY Sherman Act Sherman Antitrust Act six banks statement subcommittee suit supervisory agencies Supreme Court testimony Thank tion TODD unscrambling violation WELTNER WIDNALL ZAUN
Popular passages
Page 669 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security; and by obtaining, issuing and circulating notes according to the provisions of this Title.
Page 276 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation...
Page 617 - ... (a) RULES. — Every agency shall separately state and currently publish in the Federal Register (1) descriptions of its central and field organization including delegations by the agency of final authority and the established places at which, and methods whereby, the public may secure information or make submittals or requests...
Page 38 - No corporation shall acquire, directly or indirectly, the whole or any part of the stock or other share capital and no corporation subject to the jurisdiction of the Federal Trade Commission shall acquire the whole or any part of the assets of...
Page 305 - ... the effect of the transaction on competition (including any tendency toward monopoly), and shall not approve the transaction unless, after considering all of such factors, it finds the transaction to be in the public interest.
Page 8 - ... of section 7 of the Clayton Act, as amended by the Celler-Kefauver Act of 1950 ("Section 7"), and as reflected in its legislative history and interpretation by the United States Supreme Court.
Page 40 - ... the convenience, needs, and welfare of the communities and the area concerned; and (5) whether or not the effect of cuch acquisition or merger or consolidation would be to expand the size or extent of the bank holding company system involved beyond limits consistent with adequate and sound banking, the public Interest, and the preservation of competition In the field of banking.
Page 350 - A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men...
Page 215 - Commission is not to measure proposals for [acquisitions] by the standards of the antitrust laws." 321 US, at 85-86. The problem is one of accommodation of § 5 (2) and the antitrust legislation. The Commission remains obligated to "estimate the scope and appraise the effects of the curtailment of competition which will result from the proposed...
Page xiii - ... information: the name and total resources of each bank involved; whether a report has been submitted by the Attorney General hereunder, and, if so, a summary by the Attorney General of the substance of such report; and a statement by the Comptroller, the Board, or the Corporation, as the case may be, of the basis for its approval.