Confusion in the Legal Framework of the American Financial System and Service Industry: Hearings Before a Subcommittee of the Committee on Government Operations, House of Representatives, Ninety-eighth Congress, First Session, July 19, 20, and 21, 1983
United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee
U.S. Government Printing Office, 1983 - 543 pages
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Page 261 - Board shall consider whether its performance by an affiliate of a holding company can reasonably be expected to produce benefits to the public, such as greater convenience, increased competition, or gains in efficiency that outweigh possible adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interest, or unsound banking practices.
Page 308 - Board after due notice and opportunity for hearing has determined (by order or regulation) to be so closely related to banking or managing or controlling banks as to be a proper incident thereto. In determining whether a particular activity is a proper incident to banking or managing or controlling banks the Board shall consider whether its performance by an affiliate of a holding company can reasonably be expected to produce benefits to the public, such as greater convenience, increased competition...
Page 147 - Holding or managing or liquidating assets owned by or acquired from a subsidiary insured institution; (d) Holding or managing properties used or occupied by a subsidiary insured institution; (e) Acting as trustee under deed of trust; or (f) Furnishing or performing such other services or engaging in such other activities as the Corporation may approve or may prescribe by regulation as being a proper incident to the operations of insured institutions and not detrimental to the interests of savings...
Page 205 - Congress acted to keep commercial banks out of the investment banking business largely because it believed that the promotional incentives of investment banking and the investment banker's pecuniary stake in the success of particular investment opportunities was destructive of prudent and disinterested commercial banking and of public confidence in the commercial banking system.
Page 161 - Congress — but the power to adopt regulations to carry into effect the will of Congress as expressed by the statute. A regulation which does not do this, but operates to create a rule out of harmony with the statute, is a mere nullity.
Page 34 - System, before the Subcommittee on Commerce, Consumer, and Monetary Affairs of the Committee on Government Operations, US House of Representatives, May 15, 1985.
Page 406 - 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.
Page 6 - Islands which ( 1 ) accepts deposits that the depositor has a legal right to withdraw on demand, and (2) engages in the business of making commercial loans.
Page 180 - Comptroller has sought to authorize here. Because the potential hazards and abuses that flow from a bank's entry into the mutual investment business are the same basic hazards and abuses that Congress intended to eliminate almost 40 years ago, we cannot but apply the terms of the federal statute as they were written. We conclude that the...