Amendments to Federal Deposit Insurance Act: Hearings Before a Subcommittee on the Committee on Banking and Currency, United States Senate, Eighty-first Congress, Second Session, on S. 80 ... [et Al.] Bills to Amend the Federal Deposit Insurance Act. Jan. 11, 23, and 30, 1950
U.S. Government Printing Office, 1950 - Banks and banking - 150 pages
Considers legislation to technical provisions of FDIC deposit insurance program and to increase deposit insurance coverage.
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accounts addition agencies amended amount assessment assessment base assets association authority average Bankers believe bill billion Board of Directors building capital cash Chairman closed committee Comptroller CONGRESS considered coverage covered Currency Deposit Insurance Corporation depositors determined dividend dollars effect examination expenses experience fact FDIC Federal Deposit Insurance Federal Reserve Board Federal Reserve System figure follows fund further give Government HARL hearings important income increase insured bank insured deposits interest less liabilities LIBRARY limit liquidation loans losses matter means member banks ment mutual national banks necessary objection operating paid payment percent period position present proposed protection question reason receiver record reduce respect securities Senator DOUGLAS Senator MAYBANK Senator ROBERTSON situation SNYDER statement suggested surplus term tion Treasury United WIGGINS
Page 2 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 15 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 15 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 9 - Third. To make contracts. Fourth. To sue and be sued, complain and defend, in any court of law or equity.
Page 9 - ... no attachment, injunction, or execution, shall be issued against such association or its property before final judgment in any suit, action, or proceeding, in any State, county, or municipal court.
Page 11 - The Corporation shall have access to reports of examination made by, and reports of condition made to, the Comptroller of the Currency or any Federal Reserve bank and to...
Page 8 - Board of Governors of the Federal Reserve System in the case of a State member bank as the case may be, the Board of Directors, if it shall determine to proceed further, shall give to the bank not less than thirty days...
Page 8 - State member bank, a statement with respect to such practices or violations for the purpose of securing the correction thereof and shall give a copy thereof to the bank.