Miscellaneous Bank Bills: Hearing Before ..., 87-2 on H.R.8874 ... H.R.8874 ... H.R.12577 ..., August 30, 19621962 - 110 páginas |
Términos y frases comunes
100 percent capital 60 percent aggregate amended American Bankers Association amount approval assets August August 27 automation bank service corporation bank's Banking and Currency banks to invest board of directors Board of Governors bookkeeping branch banking capital and surplus CHAIRMAN Chase Manhattan Bank COCKE commercial banks Committee on Banking Common Trust Fund competitive Comptroller construction loans court trusts D.C. DEAR data processing enacted equipment examination exercise Federal Reserve Act Federal Reserve Board Federal Reserve System Federal supervisory agency fiduciary capacity Internal Revenue Code large banks larger banks legislation member banks ment MICR Mortgage Investment Fund MYERS paragraph participation performed permit powers of national president private or court question real estate loans records regulation savings deposits SAXON securities Senator PROXMIRE Senator SPARKMAN small banks smaller statement tion trust department trust investment committee trust powers U.S. Senate Washington whichever is greater WILLIS ROBERTSON
Pasajes populares
Página 31 - Currency shall be authorized and empowered to grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity in which State banks, trust companies, or other corporations which come into competition with national banks are permitted to act under the laws of the...
Página 31 - Whenever the laws of such State authorize or permit the exercise of any or all of the foregoing powers by State banks, trust companies, or other corporations which compete with national banks, the granting to and the exercise of such powers by national banks shall not be deemed to be in contravention of State or local law within the meaning of this Act.
Página 33 - In the event of the failure of such bank the owners of the funds held in trust for investment shall have a lien on the bonds or other securities so set apart in addition to their claim against the estate of the bank.
Página 31 - Whenever the laws of a State require corporations acting in a fiduciary capacity to deposit securities with the State authorities for the protection of private or court trusts...
Página 6 - Provided, That no national banking association shall invest in, or be liable on, any such loans in an aggregate amount in excess of 100 per centum of its actually paid-in and unimpaired capital plus 100 per centum of its unimpaired surplus fund.
Página 31 - In passing upon applications for permission to exercise the powers enumerated in this subsection, the Federal Reserve Board may take into consideration the amount of capital and surplus of the applying bank, whether or not such capital and surplus is sufficient under the circumstances of the case, the needs of the community to be served, and any other facts and circumstances that seem to it proper, and may grant or refuse the application accordingly...
Página 99 - 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 59 - ... by both the bank and the party performing such services that the performance thereof will be subject to regulation and examination by such agency to the same extent as if such services were being performed by the bank itself on its own premises.
Página 34 - 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...
Página 69 - Under paragraph (b) of section 5 such assurances shall be furnished to the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation...