Reorganization Plan No. 2 of 1956. S. Res. 291 June 1956. 84-2Considers Reorganization Plan No. 2 of 1956 to establish FSLIC as an independent agency. |
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Page 3
... desirable to foster coordination of the policies of the Corporation and of the Federal Home Loan Bank Board . Moreover , the arrangement corresponds generally to the interrelationship of the Federal Deposit Insurance Corporation , which ...
... desirable to foster coordination of the policies of the Corporation and of the Federal Home Loan Bank Board . Moreover , the arrangement corresponds generally to the interrelationship of the Federal Deposit Insurance Corporation , which ...
Page 8
... desirable to foster coordination of the policies of the Corporation and the Bank Board , and corresponds generally to the interrelationship of the Federal Deposit Insurance Corporation ( which insures deposits of commercial banks ) ...
... desirable to foster coordination of the policies of the Corporation and the Bank Board , and corresponds generally to the interrelationship of the Federal Deposit Insurance Corporation ( which insures deposits of commercial banks ) ...
Page 22
... desirable . The exercise of the two responsibilities is inherently conflicting . However , there are several reasons and considerations which , in our opinion , are not adequately covered by Reorganization Plan No. 2 . First , the plan ...
... desirable . The exercise of the two responsibilities is inherently conflicting . However , there are several reasons and considerations which , in our opinion , are not adequately covered by Reorganization Plan No. 2 . First , the plan ...
Page 23
... desirable to separate the top policy authority with respect to the sponsoring and chartering of the Federal savings and loan associations from the policy function of determining whether such association should be insured . Senator ...
... desirable to separate the top policy authority with respect to the sponsoring and chartering of the Federal savings and loan associations from the policy function of determining whether such association should be insured . Senator ...
Page 23
... desirable to make the separation and have one group of bank board members , and a separate board of trustees . for the insurance corporation . You were just asking the preceding witness a question with regard to what would happen ...
... desirable to make the separation and have one group of bank board members , and a separate board of trustees . for the insurance corporation . You were just asking the preceding witness a question with regard to what would happen ...
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Common terms and phrases
Accounting Office administration assets audit reports Banking and Currency billion board of trustees BRUNDAGE BUBB Chairman Colonel Sherman Committee on Banking Comptroller Cong Currency Committee Deposit Insurance Corporation Director effect established examinations executive branch Federal associations Federal Deposit Insurance Federal Government Federal Home Loan Frank Muller functions Government Operations Home Finance Agency Home Loan Bank Hoover Commission recommended Housing and Home increase inherently conflicting insurance program insure the accounts insured institutions June 18 KANE legislative lending agencies letter Loan Advisory Council loan associations Loan Bank Board Loan Bank System loan business loan institutions Loan Insurance Corporation Loan League MCALLISTER member institutions mortgage NORRIS COTTON organization present President promote and charter Reorganization Plan responsibility Savings & Loan Savings and Loan Senate Banking Senate Resolution 291 Senator COTTON Senator Fulbright Senator Sparkman Senator WOFFORD separate board statement Subcommittee on Reorganization task force tion United States Savings United States Senate Washington
Popular passages
Page 39 - ... in most respects comparable to that of the Federal Deposit Insurance Corporation. Although the Hoover Commission recommended that management of the Corporation be separated completely from the Federal Home Loan Bank Board, the plan provides that the Chairman of the Board shall be 1 of 3 members of the Board of Trustees of the Federal Savings and Loan Insurance Corporation with authority identical to that of the other trustees. It is believed that such an arrangement is necessary and desirable...
Page 4 - Prepared by the President and transmitted to the Senate and the House of Representatives in Congress assembled, April 24, 1958, pursuant to the provisions of the Reorganization Act of 1949, approved June 20, 1949, as amended CIVILIAN MOBILIZATION SECTION 1.
Page 7 - ... of this section, and the term "domestic association" means such savings and loan, building and loan, and homestead associations and cooperative banks as are domestic associations within the meaning of such statutory provision; (2) The term "give-away" means any merchandise or other thing of value, or services performed in whole or in part outside the premises of an association, furnished the recipient as a gift or premium or as a result of a drawing...
Page 4 - Director shall direct. (b) Such further measures and dispositions as the Director of the Bureau of the Budget shall deem to be necessary in order to effectuate the transfers provided for in subsection (a) of this section shall be carried out in such manner as he shall direct and by such agencies as he shall designate.
Page 2 - I would like at this time to insert in the record a copy of Senate Resolution 291, a copy of Reorganization Plan No.
Page 35 - ... regulations and directions and the frustrations of attempting to determine which agency to follow. Where 1 report now suffices, 2 would be necessary under the plan, probably in a different form and with different instructions. In short, redtape and agency buckpassing would result under the plan. 2. Under the plan the savings and loan institutions would have substantially increased operating expenses, All of the expenses of the Federal Home Loan Bank Board and of the Federal Savings and Loan Insurance...
Page 40 - Corporation shall deem, necessary in connection with such insurance, and (2) if the insurance is granted, to permit and pay the cost of such examinations as in the judgment of the Corporation may from time to time be necessary for its protection and the protection of other insured institutions, to permit the Corporation to have access to any information or report with respect to any examination made by any public regulatory authority and to furnish any additional information with respect thereto...
Page 45 - ... to serve as a member of the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation at the same time." The recommendation of the Hoover Commission would not be complied with, since the Chairman of the Federal Home Loan Bank Board would also serve as 1 of the 3 members of the board of trustees of the Federal Savings and Loan Insurance Corporation. 5. The President's plan presupposes that the Insurance Corporation would be strengthened by the reorganization plan and...
Page 3 - The rates of compensation fixed for these officers are, respectively, those which I have found to prevail in respect of comparable officers in the executive branch of the Government.
Page 31 - Kans., and I appear here today as chairman of the legislative committee of the United States Savings & Loan League.