Amendments to Federal Deposit Insurance Act, 1950: Hearings Before the Committee on Banking and Currency, House of Representatives, Eighty-first Congress, Second Session, on S. 2822, an Act to Amend the Federal Deposit Insurance Act. June 20, 21 and 22, 1950 |
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... Wiggins , A. Lee M. , chairman of the board , Bank of Hartsville , Hartsville , S. C .. 75 Miscellaneous information submitted for the record by- Abbitt , Hon . W. M .: Petersburg Savings & American Trust Co. , Petersburg , Va ...
... Wiggins , A. Lee M. , chairman of the board , Bank of Hartsville , Hartsville , S. C .. 75 Miscellaneous information submitted for the record by- Abbitt , Hon . W. M .: Petersburg Savings & American Trust Co. , Petersburg , Va ...
Page 19
... Wiggins , former president of the American Bankers Asso- ciation and former Under Secretary of the Treasury , and the Comp- troller of the Currency , and many others in an effort to produce a re- codification of the FDIC law which would ...
... Wiggins , former president of the American Bankers Asso- ciation and former Under Secretary of the Treasury , and the Comp- troller of the Currency , and many others in an effort to produce a re- codification of the FDIC law which would ...
Page 75
... Wiggins , chair- man of the board of the Bank of Hartsville , Hartsville , S. C. STATEMENT OF A. LEE M. WIGGINS , CHAIRMAN OF THE BOARD OF THE BANK OF HARTSVILLE , HARTSVILLE , S. C. The CHAIRMAN . We are always glad to hear Mr. Wiggins ...
... Wiggins , chair- man of the board of the Bank of Hartsville , Hartsville , S. C. STATEMENT OF A. LEE M. WIGGINS , CHAIRMAN OF THE BOARD OF THE BANK OF HARTSVILLE , HARTSVILLE , S. C. The CHAIRMAN . We are always glad to hear Mr. Wiggins ...
Page 80
... Wiggins ? Mr. WIGGINS . Here we find ourselves with $ 40,000,000,000 of cushion assets before the FDIC can lose a nickel , and then the FDIC has $ 1,200,000,000 , plus the $ 3,000,000,000 that it can get from the Treasury , to purchase ...
... Wiggins ? Mr. WIGGINS . Here we find ourselves with $ 40,000,000,000 of cushion assets before the FDIC can lose a nickel , and then the FDIC has $ 1,200,000,000 , plus the $ 3,000,000,000 that it can get from the Treasury , to purchase ...
Page 81
... WIGGINS . That is right . So I think it is largely a matter of working out the arrangement whereby that objective can be accomplished . Now , I have tried to write , at the request of the Senate committee when that question came up , a ...
... WIGGINS . That is right . So I think it is largely a matter of working out the arrangement whereby that objective can be accomplished . Now , I have tried to write , at the request of the Senate committee when that question came up , a ...
Common terms and phrases
agencies AMBERG amended American Bankers Association amount ARTHUR assessment base assets authority bank deposits banking system believe bill billion dollars BIRDZELL Board of Directors BRARY BROWN capital funds cash Chairman closed bank commercial banks committee Comptroller CONGRESS THE LIBRARY Cook coverage demand deposits deposit accounts Deposit Insurance Corporation deposit liability depositors District bank dividend earnings examination FDIC Federal Deposit Insurance Federal Reserve banks Federal Reserve Board Federal Reserve System formula GORMLEY HARL income increase institution insurance fund insured deposits interest investment legislation LIBRARY OF CONGRESS losses member banks ment MULTER mutual savings banks national bank nonmember bank one-twelfth operating paid PATMAN payment percent period poration premium present proposed protection provision question reason reduction RESS risk Savings and Loan Senate small banks statement surplus tion Treasury WIGGINS
Popular passages
Page 14 - 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 14 - Treasury, taking into consideration the current average rate on outstanding marketable obligations of the United States as of the last day of the month preceding the issuance of the obligations.
Page 15 - The representatives of the General Accounting Office shall have access to all books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the District and necessary to facilitate the audit, and they shall be afforded full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians.
Page 14 - 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 - ... any failure to obey such order of the court may be punished by such court as a contempt thereof. All process in any such case may be served in the judicial district whereof such person is an inhabitant or wherever he may be found.
Page 8 - Such attendance of witnesses and the production of any such papers may be required from any place in any State or in any Territory or other place subject to the jurisdiction of the United States at any designated place where such...
Page 7 - Third. To make contracts. Fourth. To sue and be sued, complain and defend, in any court of law or equity.
Page 8 - ... who shall have power to make a thorough examination into all the affairs of the association, and, in doing so, to examine any of the officers and agents thereof on oath, and shall make a full and detailed report of the condition of the association to the Comptroller...
Page 7 - ... 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 9 - 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...