CONTENTS

(The same table of contents appears in parts 1 and 2)

Arnold, Alan C., executive vice president, Howard, Weil, Labouisse, Fried-

richs, Inc., New Orleans, La...

Arnspiger, S. D., first vice president and comanager, Municipal Bond Divi-

sion, Underwood Neuhaus & Co., Inc., Houston, Tex----

Bankers Association Panel, consisting of, George A. LeMaistre, professor of

law and professor of banking, University of Alabama, Tuscaloosa, Ala.;

Donald T. Senterfitt, attorney at law and chairman of the executive

committee, Sun Banks of Florida, Orlando, Fla.; John C. H. Miller, Jr.,

attorney at law and director of Exchange National Bank of Birmingham,

Ala.; John Milstead, executive vice president, Florida Bankers Associa-

tion, Orlando, Fla.; B. G. Montgomery, executive vice president, First

City National Bank of Houston, Houston, Tex.; Hugh Z. Graham, senior

vice president, Director of Trust, South Carolina National Bank, Colum-

bia, S.C.; and C. Robert Brenton, president, Brenton Banks, Inc., chair-

man. Iowa Bankers Association, Federal Legislative Committee, Des

Moines, Iowa‒‒‒‒‒

Bernardi, Roy, city auditor, Syracuse, N.Y..

Boehm, Frederick L., senior vice president, American Bankers Insurance

Co. of Florida, senior vice president, American Bankers Life Assurance

Co. of Florida___

Brenton, C. Robert, president, Brenton Banks, Inc., chairman, Federal legis-

lative committee, Iowa Bankers Association, Des Moines, Iowa, accom-

panied by Neil Milner, executive vice president of the association_____

Browne, Donald T., vice president, First National Holding Corp., Atlanta,

Ga., on behalf of the Association of Bank Holding Companies, accom-

panied by Robert B. Burns, president, Union Securities Co., Spokane,

Wash

Browne, James M., member, Executive Committee, National Consumer

Finance Association, and president, Financeamerica Corp., accompanied

by William J. Fenza, Jr., senior vice president and general counsel,

Financeamerica Corp---

Cagan, Dr. Philip, professor of economics, Columbia University, and re-

search associate, National Bureau of Economic Research___

705

696

1218

1123

304

1253

263

306

513

Carder, James, director, division of accounting, department of administra-

tion, Jefferson City, Mo.; on behalf of the National Governors Associa-

tion

Carswell, Hon. Robert, Deputy Secretary of the Treasury.

Crandall, Richard L., president, Comshare, Inc., on behalf of the Associa-

tion of Data Processing Service Organizations, Inc., accompanied by

Jerome L. Dreyer, executive vice president, and P. Michael Nugent,

staff attorney__

Davis, Irvin R., director of finance, Philadelphia, Pa., accompanied by

Robert L. Greenberg, first deputy director of finance and acting city

treasurer

Donahue, John F., Jr., Chairman of the Board, A. G. Becker, Inc., accom-

panied by Richard C. Yancey, managing director, Dillon Read & Co.,

Inc.; on behalf of Securities Industry Association___

Downey, Robert N., chairman, municipal finance committee, Securities

Industry Association__‒‒‒

Fink, Matthew P., general counsel, Investment Co. Institute__.

Ford, Richard F., president, First National Bank, St. Louis, Mo., and

member of the Governing Council of the American Bankers Association__

Fugate, Ivan D., chairman, Federal Legislation Committee, Independent

Bankers Association of America, and chairman of the Board and presi-

dent, Western National Bank, Denver, Colo., accompanied by James E.

Thielke, partner, Peat, Marwick & Mitchell & Co., Oklahoma City, Okla.;

Robert E. Sipple, senior vice president, American National Bank & Trust

Co., St. Paul, Minn.; and John J. Kendrick, Jr., attorney, Hewitt, John-

son, Swanson & Barbee, Dallas, Tex___

Gilman, Hon. Benjamin A., a Representative in Congress from the State

of New York-----

Gonzalez, Hon. Henry B., a Representative in Congress from the State

of Texas---

Pa

10

135

11

9

6

10

5

6

Graham, Hugh Z., senior vice president, director of trust, South Carolina

National Bank, Columbia, S.C..

12

Guthman, Richard, council member, Atlanta, Ga., on behalf of the National

League of Cities____

10

Hanna, Hon. William, mayor, Rockville, Md., on behalf of the U.S. Confer-

ence of Mayors__.

10

Hemphill, William L., president, Mortgage Insurance Companies of Amer-

ica

Hodgkins, Ralph L., Jr., president and chief executive officer, Mid-Maine

Mutual Savings Bank, Auburn, Maine, on behalf of the National Asso-

ciation of Mutual Savings Bank (NAMSB), accompanied by James J.

Butera, associate director___

Hope, C. C., Jr., vice chairman of the board, First Union National Bank,

Charlotte, N.C., and president-elect, American Bankers Association; and

Lee E. Gunderson, president, Bank of Osceola, Osceola, Wis-----

Kaufman, Dr. George G., John Rogers, professor of banking and finance,

and director, Center for Capital Market Research, University of Oregon__

Kauper, Thomas E., professor of law, University of Michigan School of

Law

Kendrick, John J., attorney, Hewett, Johnson, Swanson & Barbee, Dallas,

Tex

Kremer, Edward J., chairman, Federal Affiars Committee, Independent

Insurance Agents of America (IIAA), accompanied by Thomas E. Wilson,

Counsel to IIAA; Edward J. Schmuck, counsel for six life insurance com-

panies; Edward H. Akin, Chairman, Federal Legislation Committee,

Professional Insurance Agents; Joel Shapiro, chairman, Committee on

Federal Law and Legislation, National Association of Life Underwriters;

and Dr. Emmett J. Vaughan, consultant to IIAA.

LeMaistre, George A., professor of law and banking, University of Alabama,

Tuscaloosa, Ala___

1:

Martin, Robert, executive vice president, Dain, Kalman & Quail, Minneapo-

lis, Minn__.

Mavroules, Hon. Nicholas, a Representative in Congress from the State of

Massachusetts

Melton, Hon. Buckner F., mayor, city of Macon, Ga..

1

Miller, John C. H., Jr., attorney at law, and director of Exchange National Page
Bank of Birmingham, Ala....

1219

Mineta, Hon. Norman Y., a Representative in Congress from the State of

California

447

Montgomery, B. G., executive vice president, First City National Bank of

Houston, Houston, Tex____

1256

Mussa, Dr. Michael, associate professor of economics, Graduate School of

Business, University of Chicago__.

715

O'Brien, Edward I., president, Securities Industry Association_

Odom, Lewis G., Jr., Senior Deputy Comptroller of the Currency--

Oppenheimer, Richard, president, Wells Fargo Leasing Co., accompanied

by Charles Greenberg-

669

1176

836

Partee, Hon. J. Charles, member, Board of Governors of the Federal Re-

serve System.......

Payne, Carl, executive director, Pennsylvania Housing Finance Agency---

Perko, James, Washington Public Power Supply System, Richland, Wash.,

on behalf of the American Public Power Association__.

Peterson, John___.

Phillips, Dr. Almarin, professor of economics, law, and public policy, Uni-

versity of Pennsylvania____

1295

1129

1063

1088

549

703

Radford, Rowland A., senior vice president, the Robinson-Humphrey Co.,

Inc., Atlanta, Ga----

Reynolds, William J., town comptroller, Greenwich, Conn., on behalf of the

Municipal Finance Officers Association and the Association of State Audi-

tors, Comptrollers, and Treasurers_.

Robinson, E. B., Jr., president, Dealer Bank Association, and executive vice

president, Deposit Guaranty National Bank, Jackson, Miss., accompanied

by Dick Kezer, senior vice president, Citibank, New York, N.Y_

Senterfitt, Donald T., attorney at law and chairman of the executive com-

mittee, Sun Banks of Florida, Orlando, Fla---.

Silver, David, president, Investment Co. Institute__

1066

478

1250

726

Sipple, Robert E., senior vice president, American National Bank & Trust

Co., St. Paul, Minn......

248

Thielke, James E., partner, Peat, Marwick, Mitchell & Co., Oklahoma City,

Okla.

Smith, James L., senior vice president of Security Pacific National Bank,

Los Angeles, Calif., on behalf of Consumer Bankers Association___

Spellman, Hon. Gladys Noon, a Representative in Congress from the State

of Maryland..

807

443

230

Tucker, Irvin "Tommy," member, Legislative Committee, National Associa-

tion of Realtors, accompanied by Albert E. Abrahams, senior vice presi-

dent, Government Affairs...

Vaughan, Dr. Emmett J., Partington professor of insurance, University of

Iowa

Williams, Hon. Harold M., Chairman, Securities and Exchange Commis-

sion

Yancey, Richard C., managing director, Dillon-Read & Co., on behalf of the

Securities Industry Association----

ADDITIONAL MATERIAL SUBMITTED FOR INCLUSION IN THE RECORD

Akin, Edward H., prepared statement on behalf of the National Association

of Professional Insurance Agents (PIA) ---

Allen, Grover N., director, Mississippi State Bond Advisory Division, state-

ment on H.R. 1539__.

Arnold, Alan C., prepared statement..

Arnspiger, S. D., prepared statement---

Association of Bank Holding Companies, statement_.

Bernardi, Roy, prepared statement--

Browne, Donald T.:

Analysis of-

H.R. 2255.

897

169

1271

1028

89

1167

707

697

844

1125

283

H.R. 2856 (St Germain bill)_

301

Section-by-section analysis of H.R. 2747--

286

"The Role of Insurance on Bank Holding Company Activities," position

paper

268

Browne, James M., prepared statement on behalf of the National Consumer Pa
Finance Association___

Cagan, Dr. Phillip, prepared statement, "The Interest Saving to States and
Municipalities From Bank Eligibility To Underwrite All Nonindustrial
Municipal Bonds-A Supplementary Analysis"--.
Carswell, Hon. Robert, prepared statement_

Cook, James A., Jr., senior vice president, Union Planters National Bank,
Memphis, Tenn., statement_

Craigie, Walter W., Sr., CFA, chairman of the board, Craigie Inc., Rich-
mond, Va., statement....

Crandall. Richard L., prepared statement on behalf of the Association of
Data Processing Service Organizations, Inc---

Davis, Irvin R., prepared statement with attached tables regarding the fi-
nancial condition of the city of Philadelphia..........

Donahue, John F., Jr., prepared statement on behalf of the Securities Industry Association__

Downey, Robert N. :

Additional information submitted at the request of

Chairman Fernand J. St Germain..

Congressman James M. Hanley.

Congressman James H. Scheuer_.

Prepared statement__

Fink, Matthew P., prepared statement on behalf of the Investment Company Institute__.

Florida Bankers Association, statement__

Ford Richard F.:

3

เว

5

13

4

7

11

7776

10

12

Prepared statement on behalf of the American Bankers Association___ Response to the request of Congressman James M. Hanley for additional information___.

5

5

Frigate, Ivan D. :

Prepared statement on behalf of the Independent Bankers Association of America_

1

Response to request of Congressman James M. Hanley for additional information

Gilman, Hon. Benjamin A.:

Prepared statement_

"State of New York Revenue Bonds Not Eligible for Commercial Banks To Underwrite on Deal In," table_-_

Gunderson, Lee E., prepared statement with C. C. Hope, Jr., on behalf of the American Bankers Association___

Guthman, Richard, additional information submitted at the request of-
Chairman Fernand J. St Germain__.
Congressman Doug Barnard, Jr.

Hanley, Hon. James M., prepared statement__

Hemphill, William L., prepared statement on behalf of the Mortgage Insurance Companies of America__.

Hodgkins, Ralph L., Jr.:

10

10

Additional information submitted at the request of Congressman Doug Barnard, Jr____

1

Prepared statement on behalf of the National Association of Mutual Savings Banks_____.

Hope, C. C., Jr.:

Letter, dated August 20, 1979, responding to request of Chairman Fernand J. St Germain for additional information__

Prepared statement with Lee E. Gunderson, on behalf of the American Bankers Association___

Johnson, Tom C., executive vice president, Florida Association of Insurance Agents, letter dated July 2, 1979..

Kaufman, Dr. George G., prepared statement_

Kendrick, John J., prepared statement.

Kezer, Dick, letter dated January 31, 1980, responding to request of Chairman Fernand J. St Germain for additional information__

Kremer, Edward J., prepared statement on behalf of the Independent Insurance Agents of America, Inc. (IAA).

Martin, Robert, prepared statement_

4