International Bank for Reconstruction and Development Securities: Hearings Before the Committee on Interstate and Foreign Commerce, House of Representative, Eightieth Congress, Second Session, on H.R. 6443, a Bill to Amend the Securities Act of 1933, the Securities Exchange Act of 1934, and the National Bank Act. June 4 and 5, 1948 |
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Page 3
... discuss them in the above order . I also enclose with this letter a memorandum setting forth concrete suggestions for legislation to remove such restrictions . 1. THE SECURITIES ACT OF 1933 As you know , this act regulates the public ...
... discuss them in the above order . I also enclose with this letter a memorandum setting forth concrete suggestions for legislation to remove such restrictions . 1. THE SECURITIES ACT OF 1933 As you know , this act regulates the public ...
Page 9
... discussion is applicable particularly to securities issued by the bank . However , in the case of securities guaranteed by the bank a special problem is presented . Under the Securities Act of 1933 a guaranty is considered to be a ...
... discussion is applicable particularly to securities issued by the bank . However , in the case of securities guaranteed by the bank a special problem is presented . Under the Securities Act of 1933 a guaranty is considered to be a ...
Page 13
... discuss briefly the importance and urgency of this proposed legislation . It is important because it may well repre- sent the difference between the bank's being able to raise adequate 78425-48 -2 funds in the market for its lending ...
... discuss briefly the importance and urgency of this proposed legislation . It is important because it may well repre- sent the difference between the bank's being able to raise adequate 78425-48 -2 funds in the market for its lending ...
Page 14
... discuss for a moment the structure of the bank , for there is considerable misconception about it . The bank , as you know , operates under Articles of Agreement drawn up at Bretton Woods . The United States became a member pursuant to ...
... discuss for a moment the structure of the bank , for there is considerable misconception about it . The bank , as you know , operates under Articles of Agreement drawn up at Bretton Woods . The United States became a member pursuant to ...
Page 24
... discuss it with them and then they , in turn , advise the National Advisory Council whether they think it is a suitable loan for us to make . That is a very strong check on the loans that the bank makes . The SEC does not study the ...
... discuss it with them and then they , in turn , advise the National Advisory Council whether they think it is a suitable loan for us to make . That is a very strong check on the loans that the bank makes . The SEC does not study the ...
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Common terms and phrases
agency amendment American investors amount approval articles of agreement Bank bonds Bank for Reconstruction Bank securities bank's BECKWORTH BENNETT of Michigan bill BLACK borrow Bretton Woods Agreement CHAIRMAN Chase National Bank Commerce Commissioner HANRAHAN Commissioner MCCONNAUGHEY committee CONGRESS THE LIBRARY Currency default dollars DOLLIVER Exchange Commission exempt securities Export-Import Bank fact Federal Reserve System financing foreign government FULTON funds HINSHAW insurance companies interest International Bank issued or guaranteed issuer legislation lend liability LIBRARY OF CONGRESS loans LUXFORD LYNCH matter ment National Advisory Council National Bank Act NURICK obligations operations percent problem proposed prospectus protection provisions purchase question Reconstruction and Development registration statement regulations savings banks secu Securities Act Securities and Exchange securities dealers Securities Exchange Act securities issued sell sold statute tion Treasury underwriter United States Government World Bank
Popular passages
Page 139 - System, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
Page 103 - Bank may borrow funds under (a) (ii) above or guarantee loans under (a) (iii) above only with the approval of the member in whose markets the funds are raised and the member in whose currency the loan is denominated, and only if those members agree that the proceeds may be exchanged for the currency of any other member without restriction.
Page 70 - Whenever, under the Articles of Agreement of the Fund or the Articles of Agreement of the Bank, the approval, consent or agreement of the United States is required before an act may be done by the respective institutions, the decision as to whether such approval, consent, or agreement, shall be given or refused shall (to the extent such decision is not prohibited by section 5 of this Act) be made by the Council, under the general direction of the President.
Page 12 - Commission has expressed the opinion that deposit and share accounts are subject to the anti-fraud provisions of the Securities Act of 1933 and the...
Page 55 - The Secretary of the Treasury, in his discretion, is authorized to purchase any obligations of the Corporation issued hereunder, and for such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities hereafter issued under the Second Liberty Bond Act, as amended...
Page 103 - Bank, as the case may be, shall be deemed to be an inhabitant of the Federal judicial district in which its principal office in the United States is located, and any such action at law or in equity to which either the Fund or the Bank shall be a party shall be deemed to arise under the...
Page 1 - System shall, by such rules and regulations as it may deem necessary or appropriate in the public interest or for the protection of investors, exempt, either unconditionally or upon specified terms and conditions or for stated periods, from the operation of this subsection and the rules and regulations thereunder.
Page 1 - States; such securities issued or guaranteed by corporations in which the United States has a direct or indirect interest...
Page 1 - ... .The limitations and restrictions herein contained as to dealing in and underwriting investment securities shall not apply to obligations issued by the International Bank for Reconstruction and Development which are at the time eligible for purchase by a national bank for its own account...
Page 1 - exempted security" or "exempted securities" shall include securities which are direct obligations of or obligations guaranteed as to principal or interest by the United States...