Edge Corporation Branching, Foreign Bank Takeovers, and International Banking Facilities: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, First Session ... July 16 and 20, 1979
U.S. Government Printing Office, 1979 - 655 pages
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ability acquired affiliates American banks assets Association authority BAFT Bank Holding Company bankers banking services banks operating believe billion Board of Governors Board's proposed branch banking centers CHAIRMAN changes commercial banks Committee compete competitive Congress domestic banks domestic branching Douglas amendment Edge Act Corporations Edge Corporations effect establish Eurodollar expand export Federal Reserve Act Federal Reserve Board Federal Reserve System filed financial institutions foreign branches foreign investments funds head office Holding Company Act HSBC IBF proposal IBF's interest International Banking Act international banking facilities investor issues laws legislation limitations major McFadden Act member banks ment monetary policy National Bank ownership percent permit Edge proposed regulations proposed Section qualified customer question regional and smaller regional banks regulatory agencies reserve requirements restrictions savings and loan Section 25(a securities smaller banks suggest tions trade transactions U.S. banks United York City
Page 167 - Federal examination of financial institutions by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of Thrift Supervision and the National Credit Union Administration, and make recommendations to promote uniformity in the supervision of these financial institutions.
Page 359 - The Sherman Act was designed to be a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade. It rests on the premise that the unrestrained interaction of competitive forces will yield the best allocation of our economic resources, the lowest prices, the highest quality and the greatest material progress...
Page 426 - ... if such establishment and operation are at the time expressly authorized to State banks by the law of the State in question ; and (2) at any point within the State in which said association is situated, if such establishment and operation are at the time authorized to State banks by the statute law of the State in question by language specifically granting such authority affirmatively and not merely by implication or recognition, and subject to the restrictions as to location imposed by the law...
Page 45 - States: Provided, however, That the prohibitions of section 4 of this Act shall not apply to shares of any company organized under the laws of a foreign country that does not do any business within the United States, if such shares are held or acquired by a bank holding company that is principally engaged in the banking business outside the United States.
Page 511 - No corporation organized under this section shall carry on any part of its business in the United States except such as, in the judgment of the Federal Reserve Board, shall be incidental to its international or foreign business...
Page 230 - States and to receive only such deposits within the United States as may be incidental to or for the purpose of carrying out transactions in foreign countries or dependencies or insular possessions of the United States...
Page 64 - ... of an alien insurer shall be or continue to be authorized to do an insurance business in this state if it fails to comply substantially with any requirement or limitation of this chapter, applicable to similar domestic insurers hereafter to be organized, which in the judgment of the superintendent is reasonably necessary to protect the interests of the people of this state.
Page 323 - That this paragraph shall not apply to any deposit of such bank which is payable only at an office thereof located outside of the States of the United States and the District of Columbia...
Page 256 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.