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 8
... speak upon that question of broad policy . We shall limit our comment to facts within the special knowledge and experience of the Commission . While the bank is not controlled by the United States , which is a member nation with a ...
... speak upon that question of broad policy . We shall limit our comment to facts within the special knowledge and experience of the Commission . While the bank is not controlled by the United States , which is a member nation with a ...
Page 14
... speak to you plainly and frankly as a United States citizen and Government official . In that capacity I want to say this legislation is urgent from the point of view of the interests of the United States . Congress has just enacted the ...
... speak to you plainly and frankly as a United States citizen and Government official . In that capacity I want to say this legislation is urgent from the point of view of the interests of the United States . Congress has just enacted the ...
Page 22
... speaking about . Mr. BLACK . That is correct . Mr. BENNETT of Michigan . If anything goes wrong with the loans and they turn out to be poor loans , who is the loser then , the American purchaser ? Mr. BLACK . If all the loans you make ...
... speaking about . Mr. BLACK . That is correct . Mr. BENNETT of Michigan . If anything goes wrong with the loans and they turn out to be poor loans , who is the loser then , the American purchaser ? Mr. BLACK . If all the loans you make ...
Page 26
... speak now as an American citizen - to have that specific limitation , because if you did that , you would remove the international flavor of the bank which I think is a very important thing to have . I think it would be almost ...
... speak now as an American citizen - to have that specific limitation , because if you did that , you would remove the international flavor of the bank which I think is a very important thing to have . I think it would be almost ...
Page 28
... speaking , and explaining this bank to the prospective investors , so we were quite anxious to get out literature . Mr. BENNETT of Michigan . Would it not be a good thing if the in- vesting public knew what the nature of the bank was ...
... speaking , and explaining this bank to the prospective investors , so we were quite anxious to get out literature . Mr. BENNETT of Michigan . Would it not be a good thing if the in- vesting public knew what the nature of the bank was ...
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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...