B31

COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS

WILLIAM PROXMIRE, Wisconsin, Chairman

кога

Robert Carswell, Deputy Secretary, Department of the Treasury

Donald L. Flexner, Deputy Assistant Attorney General, Antitrust Division,

Department of Justice, accompanied by Neil Roberts, Chief, Evaluation

Section, Antitrust Division.

Muriel Siebert, superintendent of banks, New York State

Answers to subsequent questions of Senator Heinz

Prepared statement.

Edge Act corporations.

Thomas C. Mottern, commissioner of banks, State of Tennessee, representing

the Conference of State Bank Supervisors.

Panel discussion:

National charter

47

16

16

16

17

18

20

21

33

34

36

38

39

41

43

45

46

52

113

117

WITNESSES

James O. Boisi, vice chairman, Morgan Guaranty, New York Clearing House,

accompanied by Lawrence Small, executive vice president, Citibank National

Banking Group..

Page

127

John J. Duffy, executive vice president, Security Pacific National Bank

Prepared statement

260

260

Elvis L. Mason, chairman of the board, First National Bank in Dallas

Prepared statement

262

265

Review of laws and regulations

263

Robert B. Cohen, senior research associate, The Conservation Project

434

John Cummings, chairman, Industrial National Bank, Providence, R.I., Ameri-

can Bankers Association, accompanied by James Kammert..

473

Robert H. Fearon, Jr., president, Oneida Valley National Bank, Oneida, N.Y.,

treasurer, Independent Bankers Association, accompanied by Richard

Peterson

487

James B. Sommers, executive vice president, North Carolina National Bank,

Charlotte, N.C., president, Bankers Association of Foreign Trade, accompa-

ADDITIONAL MATERIAL Supplied for the RECORD

Bank of America, comments on hearings to Senator Proxmire .....

Bankers' Association for Foreign Trade:

Letter to Senator Proxmire

Page

219

569

Additional comments on revisions to regulation K

Chicago Clearing House Association, comments to the Federal Reserve System

on amendments of regulations D and Q

611, 624

309

Citibank:

Letter to Senator Proxmire from Lawrence M. Small, executive vice

president

353

"Financial Competition and the Public Interest," article by Will R. Sparks,

vice president, N.A..

357

"Banking, Business, and Barbicans," article by Carl Felsenfeld, vice presi-

dent, Citibank, N.A.

391

Columbia University, statement on International Aspects of U.S. Banking by
Albert Gailord Hart, professor emeritus of economics.

223

Comptroller of the Currency, statement received for the record from John G.
Heimann

24

Current methods for collecting and compiling foreign investment informa-

tion

172

Letter to Chairman Benjamin S. Rosenthal Chairman, Subcommittee on

Commerce and Monetary Affairs, House Committee on Government

Operations from Elmer B. Staats

167

Federal Reserve System:

Comments on proposed changes in regulation K from:

United Bank of Denver

Mailgram to Senator Armstrong

Alabama Bancorporation

Connecticut Bank & Trust Co

Sun Banks of Florida, Inc

Flagship Banks, Inc...

Combank, International Airport Office..

BancOhio Corp......

BankAmerica Corp

Bank of America..

Wachovia Bank & Trust Co

Excerpts from letters to the Board of Governors

"International Banking Facilities," study of December 14, 1978..

First National Bank in Dallas:

228

229

230

231

233

239

241

241

243

259

259

538

41

Florida Bankers Association, letter to Senator Proxmire with a section from the

Florida Banking Code (section 659.141, Florida Statutes)

545

HUD, a chapter from a study on foreign investment in the United States by
Robert Cohen, senior research associate, Columbia University..

452

Independent Bankers Association of America:

Letter to Federal Reserve System.......

501

Letter to Senator Proxmire with additional comments on a question asked

during the hearing of July 20, 1979

650

Additional material supplied for the record-Continued
Institute of Foreign Bankers:

Page

Letter to Senator Proxmire expressing comments on hearings of July 16

and 20, 1979 from Serge Bellanger, chairman

209

Letter to the Secretary of the Board, Board of Governors of the Federal
Reserve System, re: International Banking Facilities from Serge Bel-
langer, chairman

215

New York Clearing House Association:

"International Banking Facilities in the United States," an analysis of the

economic policy issues, July 14, 1978

141

Suggested amendments of regulations D and Q....

152

Memorandum responding to Federal Reserve Board's questions on Interna-

tional Banking facilities

156

Letter to Chairman Henry S. Reuss of the House Banking Committee from

Muriel Siebert, superintendent of banks

58

New York State Banking Department:

Letter to Theodore E. Allison, secretary of the board, Board of Governors of

the Federal Reserve System from Muriel Siebert superintendent of

banks......

News release, statement on proposal acquisition of Marine Midland Banks

Inc. by the Hong Kong and Shanghai Banking Corp

Report of the superintendent of banks of New York State on the proposed

acquisition by the Hong Kong and Shanghai Banking Corp. of Marine

Midland Banks, Inc

Largest banking organizations in New York State, December 31, 1978..

Distribution of deposits of largest banking organizations in New York

State, June 30, 1978..

Commercial banking concentration in seven upstate SMSA's, June 30,

1978