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 4
... thing , if it should offer its bonds through underwriters , but it is neither practical nor economical for the bank to do so . Consequently , as I have said before , as a practical matter the Securities Act as interpreted by the ...
... thing , if it should offer its bonds through underwriters , but it is neither practical nor economical for the bank to do so . Consequently , as I have said before , as a practical matter the Securities Act as interpreted by the ...
Page 20
... things were that good they would not want to borrow any money . I think that the market has a com- plete veto on anything exceeding that amount . Mr. SCOTT . I thought it was extremely interesting to hear you tes- tify on page 3 to the ...
... things were that good they would not want to borrow any money . I think that the market has a com- plete veto on anything exceeding that amount . Mr. SCOTT . I thought it was extremely interesting to hear you tes- tify on page 3 to the ...
Page 21
... thing would apply to Japan . Mr. BLACK . Yes . As a matter of fact , Italy has joined the bank , and Austria has an ... things - first , the loans that we have made with that money . We have to make loans for productive purposes ; we ...
... thing would apply to Japan . Mr. BLACK . Yes . As a matter of fact , Italy has joined the bank , and Austria has an ... things - first , the loans that we have made with that money . We have to make loans for productive purposes ; we ...
Page 24
... thing that I am worried about is this . When you are going to foreign countries to make loans and you get the money with which to make the loans from the American investor , the place where that money goes is a considerable distance ...
... thing that I am worried about is this . When you are going to foreign countries to make loans and you get the money with which to make the loans from the American investor , the place where that money goes is a considerable distance ...
Page 26
... thing to have . I think it would be almost advertising the fact that the United States Government does not think that the other nations when called upon will put their pro rata share . I think it would be a great mis- take to advertise ...
... thing to have . I think it would be almost advertising the fact that the United States Government does not think that the other nations when called upon will put their pro rata share . I think it would be a great mis- take to advertise ...
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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...