Interpretations and Actions, Volume 3 |
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Page 7
... authority granted to national banks , then observe how brokerage ( execution and clearance ) fits into the statutory framework , and finally determine whether brokering agricultural futures is a logical part of banks ' brokerage power ...
... authority granted to national banks , then observe how brokerage ( execution and clearance ) fits into the statutory framework , and finally determine whether brokering agricultural futures is a logical part of banks ' brokerage power ...
Page 8
... authority . Brokering agricultural futures and options is permissible because these instruments and their market are financial in nature and purpose . A. The " Business of Banking " The National Bank Act provides that national banks ...
... authority . Brokering agricultural futures and options is permissible because these instruments and their market are financial in nature and purpose . A. The " Business of Banking " The National Bank Act provides that national banks ...
Page 12
... authority ) , or would " promote the convenience of [ the bank's ] business " for itself or for its customers , Clement National Bank v . Vermont , 231 U.S. 120 , 140 ( 1913 ) ( paying taxes on behalf of depositors ) ; and ( 4 ) whether ...
... authority ) , or would " promote the convenience of [ the bank's ] business " for itself or for its customers , Clement National Bank v . Vermont , 231 U.S. 120 , 140 ( 1913 ) ( paying taxes on behalf of depositors ) ; and ( 4 ) whether ...
Page 16
... authorities ) ; OCC No - Objection Letter No. 87-5 ( July 20 , 1987 ) , reprinted in Fed . Banking L. Rep . ( CCH ) 84,034 . This role takes many forms : providing payments transmission services , borrowing from savers and relending to ...
... authorities ) ; OCC No - Objection Letter No. 87-5 ( July 20 , 1987 ) , reprinted in Fed . Banking L. Rep . ( CCH ) 84,034 . This role takes many forms : providing payments transmission services , borrowing from savers and relending to ...
Page 17
... authority . While the Glass - Steagall Act limited national banks ' power to deal in those " securities " covered by the Act for the bank's own account , it expressly preserved banks ' power to broker such securities for customers ...
... authority . While the Glass - Steagall Act limited national banks ' power to deal in those " securities " covered by the Act for the bank's own account , it expressly preserved banks ' power to broker such securities for customers ...
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Common terms and phrases
1990 Interpretive 24 Seventh AAAA activities Administrator of National agent agreement application Association authority Bank's proposal Bankers Banking Circular BHCA Board Bonds brokerage business of banking CBCT Cease and desist Civil money penalty collective investment fund commodity price commodity price index Community Reinvestment Act Comptroller Comptroller's Congress consent Corporation Currency Administrator customers debt deposit desist order directors District Office ERISA exchange Farmer Mac Federal Reserve fees fiduciary financial institutions financial instruments futures contracts Glass-Steagall Act hedge interest rate INTERPRETATIONS AND ACTIONS Interpretive Letter investment securities issue lease lending limit limited partnership loans mutual fund National Bank Act National Banks Washington obligations OCC Letter OCC's operating subsidiary participation payments permissible purchase pursuant real estate regulation reprinted in Fed requested risk section 92 sell statute Texas transactions Transfer Binder trust department Trust Interpretation underwriting