Securities Activities of Commercial Banks, Hearings Before the Subcommitteeon Securities of ...,94-1 ...,December 9 and 10,1975.110:1:United States: Congress, Volumes 22-23

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1975 - 454 pages
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Page 59 - 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 209 - 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 issued under authority of the Federal Farm Loan Act, as amended, or issued by the thirteen banks for cooperatives or any of them or the Federal Home Loan Banks...
Page 148 - common trust fund" means a fund maintained by a bank (as defined in section 104) — (1) exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank in its capacity as a trustee, executor, administrator, or guardian...
Page 216 - broker" is a person lawfully engaged in the business of effecting transactions in securities for the account of others.
Page 208 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this Act and such incidental, powers as shall be necessary to carry on the business of banking within the limitations prescribed by this Act.
Page 216 - States; such securities issued or guaranteed by corporations in which the United States has a direct or indirect interest...
Page 214 - ... controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions...
Page 219 - ... cooperative association as defined in the Agricultural Marketing Act, approved June 15, 1929, as amended...
Page 216 - System shall, by such rules and regulations as it may deem necessary or appropriate in the public interest or for the protection of investors, exempt, either unconditionally or upon specified terms and conditions or for stated periods, from the operation of this subsection and the rules and regulations thereunder.
Page 219 - ... on which the issuer has total assets exceeding $1,000,000 and a class of equity security (other than an exempted security) held of record by...

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