Financial Restructuring: The Road Ahead : Hearings Before the Subcommittee on Telecommunications, Consumer Protection, and Finance of the Committee on Energy and Commerce, House of Representatives, Ninety-eighth Congress, Second Session, on H.R. 5342, H.R. 4506, and H.R. 3537, April 4, 5, and May 17, 1984, Volume 4

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Page 334 - ... the Federal National Mortgage Association (Fannie Mae) , the Federal Home Loan Mortgage Corporation (Freddie Mac) , and the Government National Mortgage Corporation (Ginnie Mae) . In addition, banks actively engage in mortgages and mortgage pools and portfolios.
Page 330 - Governors find that an activity is so closely related to banking as to be a proper incident thereto before it may approve that activity for bank holding companies.
Page 515 - The Federal Deposit Insurance Corporation. FDIC, and the Federal Savings and Loan Insurance Corporation, FSLIC, had to pay the depositors in the insolvent banks.
Page 43 - ... primarily engaged in the issue, flotation, underwriting, public sale, or distribution, at wholesale or retail, or through syndicate participation, of stocks, bonds, or other similar securities, shall serve at the same time as an officer, director, or employee of any member bank...
Page 203 - ... securities corporations,' and it would be difficult, if not impossible, for the same set of officers to conduct safely, soundly, and successfully the conservative business of the national bank and at the same time direct and manage the speculative ventures and promotions of the ancillary institutions. These varying...
Page 342 - A bank shall not in any manner extend credit, lease or sell property of any kind, or furnish any service, or fix or vary the consideration for any of the foregoing, on the condition or requirement...
Page 573 - 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, 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 198 - 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...
Page 202 - ... of the peril to a bank, incident to the dual and diverse interests of its officers and directors. If many enterprises and many banks are brought and bound together in the nexus of a great holding corporation, the failure of one may involve all in a common disaster. And if the plan should prosper it would mean a union of power in the same hands over industry, commerce, and finance, with a resulting power over public affairs, which was the gravamen of objection to the United States Bank.
Page 318 - Islands, which both— (i) accepts demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; and (ii) is engaged in the business of making commercial loans. (2) EXCEPTIONS.— The term "bank...

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