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activities additional advantage affiliates agency agents allowed Amendments application Association authority bank holding companies bankers benefits bids bill borrowers capital Chairman ST GERMAIN City commercial banks Committee competition concern Congress consumer continue Corporation cost customers deal dealer deposits direct economic effect engage example existing fact Federal Reserve Board financing firms funds going hearings House increase independent individual industry institutions interest investment involved issuers issues lease legislation limited loan million municipal National Bank negotiated obligation offer operations participation percent permitted position present problem prohibition proposed purchase question reason regulation represent restrictions result revenue bonds Robinson savings securities sell statement subcommittee subsidiaries Thank tion transaction trust types underwriting yield York
Page 907 - Board shall consider whether its performance by an affiliate of a holding company can reasonably be expected to produce benefits to the public, such as greater convenience, increased competition, or gains in efficiency, that outweigh possible adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interest, or unsound banking practices.
Page 1005 - 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...
Page 357 - Board after due notice and opportunity for hearing has determined (by order or regulation) to be so closely related to banking or managing or controlling banks as to be a proper incident thereto.
Page 820 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security; and by obtaining, issuing and circulating notes according to the provisions of this Title.
Page 452 - Association, the National Association of Counties, the National League of Cities, and the United States Conference of Mayors are assisting us in this effort.
Page 694 - No officer, director, or employee of any corporation or unincorporated association, no partner or employee of any partnership, and no individual, primarily engaged in the issue, flotation, underwriting, public sale, or distribution, at wholesale or retail, or through syndicate participation, of stocks, bonds, or other similar securities...
Page 693 - The business of dealing in securities and stock by the association shall be limited to purchasing and selling such securities and stock without recourse, solely upon the order, and for the account of, customers, and in no case for its own account, and the association shall not underwrite any issue of securities or stock: Provided, That the association may purchase for its own account investment securities under such limitations and restrictions as the Comptroller of the Currency may by regulation...
Page 854 - Act, to be so closely related to banking as to be a proper incident thereto (subject to such terms and conditions contained in such regulation or order, unless modified by the Board);".
Page 230 - Over and over again courts have said that there is nothing sinister in so arranging one's affairs as to keep taxes as low as possible.
Page 925 - ... the customer's proportionate interest in fund assets. Units of participation are freely redeemable, and transferable to anyone who has executed a managing agency agreement with the bank. The fund is registered as an investment company under the Investment Company Act of 1940. The bank is the underwriter of the fund's units of participation within the meaning of that Act.