Study of Banking Laws: Legislative Recommendations of the Federal Supervisory Agencies to the Committee on Banking and Currency, United States Senate

Front Cover
U.S. Government Printing Office, 1956 - 212 pages

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Contents

Subscription by national banks to Federal Reserve bank stock
67
Liability incident to ownership of Federal Reserve bank stock__
68
Subscription to Federal Reserve bank stock by the public and the United States
69
Original organization of Reserve banks_
70
Federal Reserve bank directors residents of district
72
Service on Reserve bank boards or Federal Advisory Council
74
53
75
Payment of Reserve bank earnings to Treasury
77
Use by Treasury of funds received from Federal Reserve banks__
79
Taxation of Federal Reserve bank stock__
80
57
81
Reports from member banks
82
References to section 12B of the Federal Reserve
83
Stock acquisitions in connection with absorptions
84
Obsolete provisions regarding Federal Reserve Board members_
85
62
87
Federal Reserve branch buildings
88
Advances to groups of member banks
89
Simple majority for all Board actions___
90
Fiscal agency operations of Reserve banks
92
Incorrect reference to section 20 of the Federal Reserve Act_
93
Revocation of trust powers of national banks
94
References to national agricultural credit corporations
95
Repurchase agreements of Federal Reserve banks
96
Federal Reserve notes__
98
Federal Reserve banknotes
102
Obsolete provision regarding reserve requirements
105
Payment of interest on deposits
106
Interest on demand deposits of savings banks and of public funds
107
Reserves against deposits of public moneys
108
Obsolete provision as to loans to executive officers of member banks__
109
Investment by national banks in foreign financing corporations_
111
Procedure for removal of directors and officers
112
Bank mergers
113
Letter of transmittal___
117
Comptroller of the Currency as a member of Board
118
Definitions__
119
Section 9 of the Federal Deposit Insurance Act
130
Recommendations of the Federal Deposit Insurance CorporationCon Pago 101 Employment separation and compensation
131
Immunity from prosecution
132
Certification of records
133
Deposit insurance fund
134
Additional liability of national bank stockholders
136
Receiver of an insured bank
139
Loans to and asset purchases from receivers or liquidators
140
Civil service retirement and disability benefits and employees compensation benefits
141
Accounting and auditing of the Corporation on calendar year basis
143
Letter of transmittal__
147
Federal Home Loan Bank Act
148
General amendment__
151
Federal home loan bank districts_
153
Territorial limitation on membership and advances
154
Liquidity of Federal home loan bank members
155
III
158
Directors of Federal home loan banks
159
Federal Savings and Loan Advisory Council
161
Advances by Federal home loan banks
162
Advances for home repairs_
165
Interbank transactions of Federal home loan banks
166
Required investments of Federal home loan banks_
167
Eligibility of Federal home loan bank personnel as director_
168
Exemption from taxation_
169
Eligibility of bank obligations as investments_
170
The Federal Home Loan Bank Board
171
Expenses of the Board and assessments on the banks
173
Powers and duties of examiners_
174
Interagency services__
175
Home Owners Loan Act of 1933
177
Interest rate and charges of Federal savings and loan associations_
178
Investments by Secretary of the Treasury in Federal savings and loan associations___
184
Conversions__
186
Promotion of savings and loan associations
188
of National Housing Act 149 References to Home Loan Bank Board
189

Common terms and phrases

Popular passages

Page 24 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 5 - Seventh. 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...
Page 26 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 148 - ... means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State In which the real estate Is located, together with the credit instruments, if any, secured thereby.
Page 39 - Such receiver, under the direction of the Comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct ; and may, if necessary to pay the debts of sucu association,...
Page 18 - No association, or any member thereof, shall, during the time it shall continue its banking operations, withdraw, or permit to be withdrawn, either in the form of dividends or otherwise, any portion of its capital.
Page 28 - Whoever violates any of the provisions of this subsection shall, upon conviction, be fined not more than $5,000, or imprisoned for not more than five years, or both. (d) The term "person" as used in this section means an individual partnership, corporation or association.
Page 177 - ... be set aside. A copy of such petition shall be forthwith served upon the commission or board, and thereupon the commission or board forthwith shall certify and file in the court a transcript of the record as hereinbefore provided.
Page 91 - April 24, 1917, or certificates of indebtedness of the United States, Treasury bills of the United States, or obligations fully guaranteed both as to principal and interest by the United States...
Page 21 - ... every stockholder shall have the right to vote in person or by proxy the number of shares owned by him...

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