Regulation of Bank Mergers: Hearings Before Subcommittee No. 2 of the Committee on Banking and Currency, House of Representatives, Eighty-sixth Congress, Second Session, on S.1062. February 16,17, and 18, 1960 |
Common terms and phrases
1st sess 84th Congress absorbed bank acquired bank acquisition of assets Antitrust Subcommittee application association Attorney Bank & Trust Bank Holding Company bank mergers bank supervisory agencies Bankers Banking and Currency banking factors banking system bill Board of Governors BROWN capital CELLER Chairman chartered City Clayton Act commercial banks Comptroller Congress consider consideration continuing bank County Trust create a monopoly Deposit Insurance Corporation disapproved effect FDIC Federal Deposit Insurance Federal Reserve Board Federal Reserve System GIDNEY HIESTAND Holding Company Act institutions insured bank Judiciary legislation lessen competition unduly lessening of competition loans MARTIN member bank MOORHEAD MULTER National Bank nonmember number of banks percent proposed merger public hearings public interest question regulation REMINGTON Savings Bank Security Trust Co Senate Sherman Act situation standards statement substantially to lessen tend to create tend unduly tion unduly to create VANIK WOLCOTT word unduly York
Popular passages
Page 89 - System and that consideration has been given to the financial history and condition of the bank, the adequacy of its capital structure, its future earnings prospects, the general character of its management, the convenience and needs of the community to be served by the bank, and whether or not its corporate powers are consistent with the purposes of the Federal Deposit Insurance Act.
Page 10 - Under paragraph (b) of section 5 such assurances shall be furnished to the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation...
Page 9 - Corporation, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System.
Page 129 - Any other proposed merger transaction whose effect in any section of the country may be substantially to lessen competition, or to tend to create a monopoly...
Page 192 - No insured bank shall merge or consolidate with any other insured bank or, either directly or indirectly, acquire the assets of, or assume liability to pay any deposits made in, any other insured bank...
Page 192 - ... to lessen competition unduly or to tend unduly to create a monopoly...
Page 90 - The significance and objectives of the Clayton Act and the 1950 amendment are well documented. In approving the policy embodied in these acts, Congress rejected the alleged advantages of size in favor of the preservation of a competitive system. The consideration to be accorded to benefits of one kind or another in one section or another of the country which may flow from a merger involving a substantial lessening of competition is a matter properly to be urged upon Congress. It is outside the province...
Page 148 - District bank, or (ii) of the Board of Governors of the Federal Reserve System if the acquiring, assuming, or resulting bank is to be a State member bank (except a District bank...
Page 166 - hearing" has obvious reference "to the tradition of Judicial proceedings in which evidence is received and weighed by the trier of the facts." The "hearing" Is "the hearing of evidence and argument".
Page 176 - In the case of a merger, consolidation, acquisition of assets, or assumption of liabilities, the appropriate agency shall also take into consideration the effect of the transaction on competition (including any tendency toward monopoly), and shall not approve the transaction unless, after considering all of such factors, it finds the transaction to be in the public interest.