Purchase of Treasury Securities and Interest on Savings Deposits: Hearing, Ninetieth Congress, Second Session on S. 2923 and S. 3133 ... April 3, 1968, Volumes 22-23; Volume 71 |
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Common terms and phrases
Act of September agency issues amended Banking and Currency banks and savings bill billion Board of Governors Chairman commercial banks Committee on Banking competition CONGRESS THE LIBRARY Deposit Insurance Corporation dividend rates economic enactment extend Federal Deposit Insurance Federal Home Loan Federal Reserve banks Federal Reserve Board Federal Reserve System FHLB FHLBB financial institutions financial markets funds Governor Robertson guaranteed higher reserve requirements Home Loan Bank HORNE housing credit interest or dividends interest rates interest-rate ceilings JOHN SPARKMAN legislation LIBRARY OF CONGRES LIBRARY OF CONGRESS loan associations Loan Bank Board Loan Bank System maximum rates MCKENNA monetary policy Mortgage Credit mortgage market mutual savings banks National League open market operations operations in agency passbook percent period permanent rate ceilings rate control rates of interest rates paid repurchase agreements savings and loan savings deposits savings flow Senator BROOKE Senator PROXMIRE September 21 situation standby statement thrift institutions tion Treasury
Popular passages
Page 47 - ... (b) Section 5B of the Federal Home Loan Bank Act (12 USC 1425b) is amended to read as follows : "SEC. 5B. (a) The Board may from time to time, after consulting with the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation...
Page 34 - States under the provisions of the preceding proviso. (2) To buy and sell in the open market, under the direction and regulations of the Federal Open Market Committee, any obligation which is a direct obligation of, or fully guaranteed as to principal and interest by, any agency of the United States.
Page 9 - Act to individuals, partnerships, or corporations other than member banks secured by direct obligations of...
Page 46 - Currency, to whom was referred the bill (HR 16092) to extend for 1 year the authority for more flexible regulation of maximum rates of interest or dividends, higher reserve requirements, and open market operations in agency issues, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass.
Page 1 - Report of the President dated March 15, 1968 : The Federal Reserve under legislation enacted in last year's crisis Is now empowered to purchase obligations of the Federal National Mortgage Association and the Federal Home Loan Bank to bring about a reduction of interest rates on home mortgages. Report of both of the House and the Senate on this legislation contains clear expressions of legislative intent that the Federal Reserve Board should assist the housing market by making such purchases in meaningful...
Page 10 - Board, provided such promissory notes are secured by such notes, drafts, bills of exchange, or bankers' acceptances as are eligible for rediscount or for purchase by Federal reserve banks under the provisions of this Act, or by the deposit or pledge of bonds or notes of the United States.
Page 20 - ... outstanding. This is exactly what the Treasury does on its bonds, of course. It uses the same words, savings bonds. The interest is guaranteed. In this same sense it seems to us that it would be inappropriate for us to say that you cannot say that you are guaranteeing the rate of interest. Senator PROXMIRE. I would like to ask each of you gentlemen if you intend to tighten up the regulations issued in 1966 on advertising of this kind that Mr. Deming recognizes is deceptive ? Mr. ROBERTSON. Mr....
Page 46 - Act and any provisions of law enacted by said titles shall be effective only during the period ending at the close of June 30, 1972. Effective upon the expiration of such period, each provision of law amended by...
Page 39 - ... important. And in principle, by more vigorous use of open-market operations alone in both the downward and upward direction, we could achieve most of the same goals that can be achieved by all five weapons. (This is only approximately true and is not meant as a recommendation for a monistic reform.) I am purposely defining monetary policy broadly to include attention to credit conditions as well as to the supply of money. I am thus explicitly rejecting the view that it should be concerned only...