Equity Hedging: OCC Needs to Establish Policy on Publishing Interpretive Decisions : Report to the Honorable James A. Leach, House of RepresentativesGeneral Accounting Office, 2001 - 48 páginas |
Dentro del libro
Resultados 1-5 de 21
Página 15
... incidental banking activity . To support its conclusion , OCC first determined that customer - driven equity ... Powers Provision Defines and Limits Banking Activities National bank powers , as well as limitations on those powers , are ...
... incidental banking activity . To support its conclusion , OCC first determined that customer - driven equity ... Powers Provision Defines and Limits Banking Activities National bank powers , as well as limitations on those powers , are ...
Página 16
... 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 ...
... 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 ...
Página 18
... power to acquire and hold corporate stock in those specific circumstances that qualify as incidental to the business of banking . A key point to OCC's analysis of the fifth sentence is its interpretation of the phrase " nothing herein ...
... power to acquire and hold corporate stock in those specific circumstances that qualify as incidental to the business of banking . A key point to OCC's analysis of the fifth sentence is its interpretation of the phrase " nothing herein ...
Página 19
... powers granted to national banks by the powers clause , authorizes a ... incidental to the business of banking . We believe that the fifth sentence ... powers clause as an activity incidental to the business of banking . " The powers ...
... powers granted to national banks by the powers clause , authorizes a ... incidental to the business of banking . We believe that the fifth sentence ... powers clause as an activity incidental to the business of banking . " The powers ...
Página 20
... incidental to one of the enumerated banking powers . Thus , the Supreme Court held that a bank was not prohibited ... incidental to the power to loan money . 30 The second and fifth sentences were passed in 1933 as part of the Glass ...
... incidental to one of the enumerated banking powers . Thus , the Supreme Court held that a bank was not prohibited ... incidental to the power to loan money . 30 The second and fifth sentences were passed in 1933 as part of the Glass ...
Términos y frases comunes
affiliate allowing banks Analysis of OCC Appendix Arnold Tours banks to hedge banks to purchase business of banking business of dealing call option collar Comptroller concluded Congress constitutes the business corporate stock customer-driven equity derivative delta delta hedging EICs equities to hedge equity derivative transactions Equity Hedge Letter Equity Hedging Decision FDIC fifth sentence four banks Glass-Steagall Act GLBA Gramm-Leach-Bliley Act hedge equity derivative hedge their equity hold equities incidental activity incidental powers authority investment securities Legal Analysis managing the risks McFadden Act National Bank Act OCC determined OCC Equity Hedging OCC officials OCC supervisory staff OCC's approval OCC's conclusion OCC's decision OCC's legal otherwise permitted permits stock ownership permitted by law powers clause price of XYZ prohibits national banks provisions publish its interpretation purchase stock put option requesting banks risk management systems risks arising second sentence section 16 section 24(Seventh securities and stock strike price Supreme Court underwriting XYZ stock
Pasajes populares
Página 16 - Except as hereinafter provided or otherwise permitted by law, nothing herein, contained shall authorize the purchase by the association for its own account of any shares of stock of any corporation.
Página 15 - 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...
Página 30 - The business of dealing in securities and stock by the association shall be limited to purchasing and selling such securities and stock without recourse, solely upon the order, and for the account of, customers, and in no case for its own account, and the association shall not underwrite any issue of securities or stock: Provided, That the association may purchase for its own account investment securities under such limitations and restrictions as the Comptroller of the Currency may by regulation...
Página 33 - broker" means any person engaged in the business of effecting transactions in securities for the account of others, but does not include a bank. (5) The term "dealer...
Página 44 - ... (4) Which owns or controls, directly or indirectly, either a majority of the shares of capital stock of a member bank or more than 50 per centum of the number of shares voted for the election of directors of...
Página 40 - dealer" means any person who engages either for all or part of his time, directly or indirectly, as agent, broker, or principal, in the business of offering, buying, selling, or otherwise dealing or trading in securities issued by another person.
Página 43 - USC 335, subject to the same limitations and conditions with respect to the purchasing, selling, underwriting, and holding of investment securities and stock as are applicable in the case of national banks under paragraph Seventh of 12 USC 24.
Página 30 - business of dealing in securities and stock [by a national bank] shall be limited to purchasing and selling such securities and stock without recourse, solely upon the order, and for the account of, customers...
Página 43 - Act of 1991, an insured State bank may not engage as principal in any type of activity that is not permissible for a national bank unless — (1) the Corporation has determined that the activity would pose no significant risk...
Página 38 - Authority is thus given to transact such a banking business as is specified, and all incidental powers necessary to carry it on are granted. These powers are such as are required to meet all the legitimate demands of the authorized business, and to enable a bank to conduct its affairs, within the general scope of its charter, safely and prudently. This necessarily implies the right of a bank to incur liabilities in the regular course of its business, as well as to become the creditor of others.