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 |
From inside the book
Results 1-5 of 36
Page 5
... reduction of such reserve shall be added ; and ( 3 ) the insurance losses sustained in said calendar year plus losses from any preceding years in excess of such reserves . If the above deductions exceed in amount the total assessments ...
... reduction of such reserve shall be added ; and ( 3 ) the insurance losses sustained in said calendar year plus losses from any preceding years in excess of such reserves . If the above deductions exceed in amount the total assessments ...
Page 19
... reducing and the examining powers of the Corporation be deferred until executive session at which time we shall be most pleased to answer such ques- tions to the best of our ability . May I also urge that you reserve judgment on these ...
... reducing and the examining powers of the Corporation be deferred until executive session at which time we shall be most pleased to answer such ques- tions to the best of our ability . May I also urge that you reserve judgment on these ...
Page 25
... reduction . The assessment reduction provided by S. 2822 is in the nature of a dividend credit plan . No change is made in the assessment rate of one - twelth of 1 percent of the deposits in the insured banks . However , the bill ...
... reduction . The assessment reduction provided by S. 2822 is in the nature of a dividend credit plan . No change is made in the assessment rate of one - twelth of 1 percent of the deposits in the insured banks . However , the bill ...
Page 28
... reduction in the fund available for the protection of depositors . This undesirable effect , in my judgment , was not intended by the proponents of the amendment . Therefore , we recommend that this section of the bill be amended ...
... reduction in the fund available for the protection of depositors . This undesirable effect , in my judgment , was not intended by the proponents of the amendment . Therefore , we recommend that this section of the bill be amended ...
Page 29
... reduction of assessments - the proposed legislation encompasses a great many provisions of a minor and tech- nical character . All of these features you will find covered by our analysis previously mentioned and which you have at hand ...
... reduction of assessments - the proposed legislation encompasses a great many provisions of a minor and tech- nical character . All of these features you will find covered by our analysis previously mentioned and which you have at hand ...
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...