Office of the Comptroller of the Currency's Recent Regulatory Actions: Hearing Before the Subcommittee on Financial Institutions and Regulatory Relief of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fifth Congress, First Session ... May 1, 1997, Volumen4U.S. Government Printing Office, 1997 - 93 páginas |
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Página 6
... House and we will act immediately upon its arrival . I have in- dicated that to our colleagues in the House , both Democrats and Republicans . Mr. Chairman , I thank you , and I beg the indulgence of my col- leagues here for having ...
... House and we will act immediately upon its arrival . I have in- dicated that to our colleagues in the House , both Democrats and Republicans . Mr. Chairman , I thank you , and I beg the indulgence of my col- leagues here for having ...
Página 20
... House . I said that in my opening statement . Mr. Comptroller , you are aware of that . This is not some insignificant piece of legislation . This is nothing more than a power grab and your attempt to keep the State chartered banks from ...
... House . I said that in my opening statement . Mr. Comptroller , you are aware of that . This is not some insignificant piece of legislation . This is nothing more than a power grab and your attempt to keep the State chartered banks from ...
Página 22
... House on the subject of financial modernization , it will detail the FDIC's views with respect to the operating subsidiary . Senator ALLARD . So what about the other two ? You mentioned three names . Mr. LUDWIG . Bill Seidman , who was ...
... House on the subject of financial modernization , it will detail the FDIC's views with respect to the operating subsidiary . Senator ALLARD . So what about the other two ? You mentioned three names . Mr. LUDWIG . Bill Seidman , who was ...
Página 29
... houses . Senator BRYAN . Let us return to this functional concept . Just as insurance services ought to be subject to the same type of regula- tion with respect to those who provide the services , so should those who are offering ...
... houses . Senator BRYAN . Let us return to this functional concept . Just as insurance services ought to be subject to the same type of regula- tion with respect to those who provide the services , so should those who are offering ...
Página 31
... House and have set forth what I think are principles to shoot for in good modernization legislation . I think that is definitely a good thing to do . But it ought to be real mod- ernization legislation that addresses improved safety and ...
... House and have set forth what I think are principles to shoot for in good modernization legislation . I think that is definitely a good thing to do . But it ought to be real mod- ernization legislation that addresses improved safety and ...
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Términos y frases comunes
agency alleged subsidy apply assets authority bank holding company bank operating subsidiaries bank regulators bank subsidiary bank's bankers banking activities banking business banking industry benefits brokerage business of banking capital Chairman changes community development Community Reinvestment Act competitive Comptroller Comptroller's conduct CONG CONGRE CONGRESS THE LIBRARY consumers corporation deposit insurance ensure examiners fair lending FDIC Federal Reserve Act Fedwire financial modernization financial services firewalls hearing holding company affiliate incidental investment securities issue LAUCH FAIRCLOTH legislation LIBRARY OF CONGRESS limitations loans LUDWIG member banks mortgage mutual funds National Bank Act National Banking System nonbank OCC's organizational parent bank percent permitted powers sentence RARY real estate regulatory revised risk management rules safety and soundness Section 24(Seventh Sections 23A Senator ALLARD Senator BRYAN Senator FAIRCLOTH sentence in Section statute sub Bank sub Subcommittee supervisory Thank tion U.S. banks underwriting
Pasajes populares
Página 67 - 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 63 - 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 or real estate security, and by obtaining, issuing, and circulating notes according to the provisions of this act.
Página 67 - Provided, That in carrying on the business commonly known as the safe-deposit business the association shall not invest in the capital stock of a corporation organized under the law of any State to conduct a safe-deposit business in an amount in excess of 15 per centum of the capital stock of the association actually paid in and unimpaired and 15 per centum of its unimpaired surplus.
Página 88 - firewalls" previously imposed between banks and their Section 20 affiliates. 3 The Office of Comptroller of the Currency ("OCC") last fall adopted its Part 5 operating subsidiary rules, which will permit subsidiaries of national banks to engage in activities that are "part of or incidental to the business of banking," but not permissible for the parent bank to engage in directly.
Página 64 - No national banking association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on account of demands of the nature following: "First.
Página 67 - That in carrying on the business commonly known as the safe-deposit business no such association shall invest in the capital stock of a corporation organized under the law of any State to conduct a safe-deposit business in an amount in excess of 15 per centum of the capital stock of such association actually paid in and unimpaired and 15 per centum of its unimpaired surplus...
Página 82 - ... banks or bank subsidiaries. Moreover, firms consolidate their operations for many reasons, including the desire for increased efficiency. Recent experience with intrastate and interstate branching demonstrates the efficiency gains of organizational flexibility. Research on intracompany mergers finds that choice of organizational form is an important determinant of the efficiency of a company's operations.
Página 44 - Management: federal banking regulatory agencies including the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the...
Página 67 - As used in this section the term "investment securities" shall mean marketable obligations, evidencing indebtedness of any person, copartnership, association, or corporation in the form of bonds, notes and/or debentures commonly known as investment securities under such further definition of the term "investment securities" as may by regulation be prescribed by the Comptroller of the Currency.
Página 84 - Diversification of the Banking Firm,” The Financiat Review. vol.24 (May 1989). pp. 251-280. ‘¿ See testimony of Ricki HeIfer, Chairman, FDIC, on financial modernization before the Subcommittee on Capital Markets, Securities, and Government Sponsored Enterprises. Committee on Banking and Financial Services, US House of Representatives, March 5, 1997. “ These mergers enable banking organizations to streamline their operations and better scr¿e their customers. Robert DeYoung and Gary Whalen,...