Consolidation of National Banking Associations, Hearing Before a Subcommittee of ..., 69-1 on S. 1782 and H.R. 2 ..., February 16, 17, 18, and 24, 19261926 - 372 pages |
From inside the book
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Page 31
... practiced under the laws of several of the States , is altogether too much of an extension of privilege , and the question is raised seriously by those who have made a study of it as to the wisdom of continu- ing these banks , allowing ...
... practiced under the laws of several of the States , is altogether too much of an extension of privilege , and the question is raised seriously by those who have made a study of it as to the wisdom of continu- ing these banks , allowing ...
Page 35
... practice which involves making what is substantially an unsecured loan on single - name paper . A new subdivision ( c ) is added to the second exception , excluding from any limitation notes secured by not less than a like face amount ...
... practice which involves making what is substantially an unsecured loan on single - name paper . A new subdivision ( c ) is added to the second exception , excluding from any limitation notes secured by not less than a like face amount ...
Page 38
... practice in prescribing conditions of member- ship for State banks prior to their admission to the Federal reserve system . In view of these facts the board has not heretofore considered it necessary to take any formal action with ...
... practice in prescribing conditions of member- ship for State banks prior to their admission to the Federal reserve system . In view of these facts the board has not heretofore considered it necessary to take any formal action with ...
Page 40
... practices in these respects by an agreement with the Federal Reserve Board . The board and the Federal reserve bank , on the other hand , are desirous of having this particular institution as a member if these differences of practice ...
... practices in these respects by an agreement with the Federal Reserve Board . The board and the Federal reserve bank , on the other hand , are desirous of having this particular institution as a member if these differences of practice ...
Page 42
... practice of prescribing conditions of membership before admitting State banks and trust companies to the Federal reserve system . Immediately after the clause above quoted a new paragraph was added , reading as follows : " In acting ...
... practice of prescribing conditions of membership before admitting State banks and trust companies to the Federal reserve system . Immediately after the clause above quoted a new paragraph was added , reading as follows : " In acting ...
Common terms and phrases
American Bankers American Bankers Association amount applying bank approval assets Average resources bank failures Bank of Italy banks and trust branch banking system capital and surplus capital stock cent centum CHAIRMAN charter committee Comptroller conditions of membership Congress consolidation corporation depositors Doctor WILLIS DRUM establish branches existing fact failed member Federal reserve act Federal reserve bank Federal Reserve Board Federal reserve system FITZGERALD gentlemen HINSCH institution legislation liabilities limits loans MACDONNELL McFadden bill member banks member State banks municipality national bank act national banking association national banking system operation organized powers privilege provisions question RATHJE read as follows real estate regulations resources of failed Revised Statutes Savings Bank savings deposits section 9 Senator EDGE Senator GLASS small banks South Dakota state-wide branch banking statement thereof tion total number trust companies unit banks WHIPPLE
Popular passages
Page 49 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 160 - ... not exceeding one year, or fined not more than $5,000, or both, and may be fined a further sum equal to the money so loaned or gratuity given.
Page 156 - Fifth. To elect or appoint directors, and by its board of directors to appoint a president, vice-president, cashier, and other officers, define their duties, require bonds of them and fix the penalty thereof, dismiss such officers or any of them at pleasure, and appoint others to fill their places.
Page 161 - Any such association may continue hereafter as heretofore to receive time and savings deposits and to pay interest on the same, but the rate of interest which such association may pay upon such time deposits or upon savings or other deposits shall not exceed the maximum rate authorized by law to be paid upon such deposits by State banks or trust companies organized under the laws of the State in which such association is located.
Page 2 - The total obligations to any national banking association of any person, copartnership, association, or corporation shall at no time exceed 10 per centum of the amount of the capital stock of such association actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund. The term 'obligations...
Page 10 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this Act and such incidental powers as shall be necessary to carry on the business of banking within the limitations prescribed by this Act.
Page 10 - The limitations and restrictions herein contained as to dealing in, underwriting and purchasing for its own account, investment securities shall not apply to obligations of the United States, or general obligations of any State or of any political subdivision thereof, or obligations issued under authority of the Federal Farm Loan Act, as amended, or issued by the Federal Home Loan Banks or the Home Owners...
Page 12 - To establish branches in foreign countries or dependencies or insular possessions of the United States...
Page 156 - That section twenty-two hundred and ninety-one and section twenty-two hundred and ninety-seven of the Revised Statutes of the United States be amended to read as follows: "Sec.
Page 157 - ... application to the Federal Reserve Board, under such rules and regulations as it may prescribe, for the right to subscribe to the stock of the Federal reserve bank organized within the District in which the applying bank is located. Such application shall be for the same amount of stock that the applying bank would be required to subscribe to as a national bank. The Federal Reserve Board, subject to the provisions of this Act and to such conditions as it may prescribe pursuant thereto may permit...