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 14
... give us an advisory report on the competitive factors and then they will have - there will be 30 days in which they can file suit . This would seem to me to be a very reasonable way of handling that . Mr. MINISH . It is apparent that ...
... give us an advisory report on the competitive factors and then they will have - there will be 30 days in which they can file suit . This would seem to me to be a very reasonable way of handling that . Mr. MINISH . It is apparent that ...
Page 20
... give you my judgment that waiting three and a half years in the case to ask them to unscramble is in my judgment not in the public interest . That is my judgment , that is all . Mr. TODD . I would appreciate your comment on the ...
... give you my judgment that waiting three and a half years in the case to ask them to unscramble is in my judgment not in the public interest . That is my judgment , that is all . Mr. TODD . I would appreciate your comment on the ...
Page 22
... give us an advisory report within 30 days . Mr. ANNUNZIO . Then what happens after that ? Mr. MARTIN . Then we- Mr. ANNUNZIO . How did you get to this 60 - day period that you are talking about , because I am reading the legislation ...
... give us an advisory report within 30 days . Mr. ANNUNZIO . Then what happens after that ? Mr. MARTIN . Then we- Mr. ANNUNZIO . How did you get to this 60 - day period that you are talking about , because I am reading the legislation ...
Page 26
... give me the story the way you are giving it . The CHAIRMAN . I know , but he was in a straitjacket . He could not do anything else . There you had the President of the United States without freedom of choice . Mr. MARTIN . He went out ...
... give me the story the way you are giving it . The CHAIRMAN . I know , but he was in a straitjacket . He could not do anything else . There you had the President of the United States without freedom of choice . Mr. MARTIN . He went out ...
Page 40
... give the Attorney General notice of it and would ask his opinion . Suppose the Attorney General does not think the merger is proper , and reports whatever he might think . Suppose the Board of Governors proceeds to authorize the merger ...
... give the Attorney General notice of it and would ask his opinion . Suppose the Attorney General does not think the merger is proper , and reports whatever he might think . Suppose the Board of Governors proceeds to authorize the merger ...
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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.