Financial Modernization: Hearings Before the Committee on Banking and Financial Services, House of Representatives, One Hundred Fifth Congress, First Session, Part 2U.S. Government Printing Office, 1997 - Banks and banking |
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allow assets bank holding companies bank subsidiary bank's banking and commerce banking industry banking organizations banking regulators banking system benefit BHCA bill broker-dealer capital Chairman LEACH Citibank commercial firms commercial paper Commission Community Reinvestment Community Reinvestment Act competition Comptroller CONGRESS THE LIBRARY consolidated consumer protection corporate depository institutions economic engage entities FDIC Federal Reserve Federal Reserve Board financial activities financial institutions financial modernization financial services holding financial services industry financial system firewalls functional regulation Glass-Steagall Act Greenspan HAWKE holding company affiliates insurance companies insurance regulators Investment Company investors issue LAFALCE laws lending limited loans mutual funds NAIC national banks non-bank nonfinancial operating subsidiaries oversight parallel banking percent permit proposal question regulatory requirements restrictions Retsinas revenues risk safety and soundness Secretary RUBIN securities activities securities firms services holding companies structure subsidy supervision systemic risk testimony Thank thrift charter tion underwriting VENTO WFIs
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Page 458 - The business of insurance, and every person engaged therein, shall be subject to the laws of the several States which relate to the regulation or taxation of such business.
Page 252 - Federal examination of financial institutions by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of Thrift Supervision and the National Credit Union Administration, and make recommendations to promote uniformity in the supervision of these financial institutions.
Page 477 - US Securities and Exchange Commission 450 Fifth Street, NW Washington, DC 20549 TESTIMONY OF RICHARD C.
Page 265 - Reports, its other publications and from noncommercial contributions, grants and fees. In addition to reports on Consumers Union's own product testing, Consumer Reports...
Page 228 - Community Reinvestment Act of 1977". SEC. 802. (a) The Congress finds that— (1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered...
Page 6 - Mr. Chairman, that concludes my testimony. I would be pleased to answer any questions that the committee might have.
Page 570 - Board shall, to the fullest extent possible, limit the focus and scope of any examination of a bank holding company to — (i) the bank holding company; and (ii) any subsidiary of the bank holding company that could have a materially adverse effect on the safety and soundness of any depository institution subsidiary of the holding company due to — (I) the size, condition, or activities of the subsidiary; or (II) the nature or size of transactions between the subsidiary and any depository institution...
Page 368 - ... affiliate are federally insured. Finally, there is the danger that the business and operating relationship will cause the courts to "pierce the corporate veil" — that is, to hold the insured entity responsible for the debts of a subsidiary or affiliate in the event the subsidiary or affiliate fails. Sections 23A and 23B of the Federal Reserve Act place certain restrictions on transactions between banks and their affiliates. These restrictions are intended to safeguard the resources of federally...
Page 129 - You would have that advisory credit council composed of the Secretary of the Treasury, the Chairman of the Federal Reserve Board...
Page 424 - Order Approving Activities of Citicorp. JP Morgan, and Bankers Trust to Engage in Limited Underwriting and Dealing in Certain Securities. Legal Developments." the Federal Reserve Board stated, "the Board notes that banks do not dominate the markets for bank-eligible securities, suggesting that the alleged funding advantages for banks are not a significant competitive factor.