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 1
... suit and then only to the extent consistent with the final judgment in such antitrust suit : Provided further , That when the agency finds that it must act immediately in order to prevent the probable failure of one of the banks and ...
... suit and then only to the extent consistent with the final judgment in such antitrust suit : Provided further , That when the agency finds that it must act immediately in order to prevent the probable failure of one of the banks and ...
Page 2
... suit , an injunction would automatically follow , prohibiting consummation of the proposed merger pending trial of the case on its merits . If , during the 30 - day period , Justice fails to bring suit , then no antitrust proceeding ...
... suit , an injunction would automatically follow , prohibiting consummation of the proposed merger pending trial of the case on its merits . If , during the 30 - day period , Justice fails to bring suit , then no antitrust proceeding ...
Page 5
... suit may be commenced immediately . The bank merger's legality will then be judged solely from its competitive aspects , unencumbered by any considerations peculiar to banking . And if such a suit were deemed to lie after a bank merger ...
... suit may be commenced immediately . The bank merger's legality will then be judged solely from its competitive aspects , unencumbered by any considerations peculiar to banking . And if such a suit were deemed to lie after a bank merger ...
Page 7
... suits . If the conflicting standards cannot be reconciled , at least the time within which the Federal Government ... suit were instituted during that period , the pro- posal could not be consummated until conclusion of the litigation ...
... suits . If the conflicting standards cannot be reconciled , at least the time within which the Federal Government ... suit were instituted during that period , the pro- posal could not be consummated until conclusion of the litigation ...
Page 8
... suit within 7 days following ap- proval of the application . If the Attorney General only published his intention to sue , then the 7 - day period would be lengthened to 30 days during which suit could be filed . Since November 1961 the ...
... suit within 7 days following ap- proval of the application . If the Attorney General only published his intention to sue , then the 7 - day period would be lengthened to 30 days during which suit could be filed . Since November 1961 the ...
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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.