Proposed Repeal of the Federal Home Loan Bank Act, Hearings Before a Subcommittee of ..., 73:1 .... |
Common terms and phrases
amortization Amounts paid applicable to member applications awaiting final appraisal Approximate lines BARKLEY building and loan BURKLIN chairman check sheet collateral commitments and loans commitments to members Deductions from income direct loans district expenses of clerks Federal Home Loan Federal home-loan bank Federal Reserve Federal Reserve Act Federal Reserve System FRIEDLANDER Government subscriptions Home Loan Bank home mortgages held home owner INFORMATION REGARDING LOANS legal division lines of credit loan associations Loan Bank Act Loan Bank Board Loan Bank System Loans approved commitments Loans in process member applications Member subscription applications Member subscriptions accepted membership minimum capital assigned mortgage loans nonmember borrowers ODELL operations undivided profits Original minimum capital percent process of approval real estate regional bank Rent of bank Salaries and expenses savings banks Senator BULKLEY Senator COUZENS Senator MCADOO Senator TOWNSEND statement Stock subscription information subcommittee subscription applications awaiting tion urban home mortgages WARNER
Popular passages
Page 55 - Whoever makes any statement knowing it to be false or whoever willfully overvalues any security for the purpose of obtaining for himself or for any applicant any loan or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release or substitution of security therefor, or for the purpose of influencing in any way...
Page 43 - Any building and loan association, savings and loan association, cooperative bank, homestead association, insurance company, or savings bank, shall be eligible to become a member of, or a nonmember borrower of, a Federal home loan bank if such institution (1) is duly organized under the laws of any State or of the United States...
Page 43 - ... (c) The original stock subscription for each institution eligible to become a member under section 4 shall be an amount equal to 1 per centum of the aggregate of the unpaid principal of the subscriber's home mortgage loans, but not less than $1,500.
Page 50 - ... of such time, such institution is not authorized to subscribe for stock, the bank shall proceed to liquidate the indebtedness of such institution to the bank and to terminate its relations with such institution. No advance shall be made under authority of this subsection which matures more than one year after the advance is made, but the bank may renew any such advance for yearly periods, or less, thereafter. The maturity of no advance authorized under this subsection shall be later than the...
Page 43 - States; and (3) makes such home mortgage loans as, in the judgment of the board, are long-term loans (and in the case of a savings bank, if, in the judgment of the board, its time deposits, as defined in section 19 of the Federal Reserve Act, warrant its making such loans). No institution shall be eligible to become a member of, or a nonmember borrower of...
Page 50 - Act, whichever is earlier. If, at the end of such time, such institution is not authorized to subscribe for stock, the bank shall proceed to liquidate the indebtedness of such institution to the bank and to terminate its relations with such institution. No advance shall be made under authority of this...
Page 57 - ... collateral security or substitutions of security by the borrowing institution, and each borrowing institution shall assign additional or substituted security when and as so required. Subject to the approval of the board, any Federal Home Loan Bank shall have power to sell to any other Federal Home Loan Bank, with or without recourse, any advance made under the provisions of this Act, or to allow to such bank a participation therein, and any other Federal Home Loan Bank shall have power to purchase...
Page 1 - Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled : That an Act entitled 'An Act relating to the liability of common carriers by railroad to their employees in certain cases...
Page 57 - ... or such other evidence, as the board may require. For the purposes of this section, each Federal Home Loan Bank shall have power to make, or to cause or require to be made, such appraisals and other investigations as it may deem necessary. No home mortgage otherwise eligible to be accepted as collateral security for an advance by a Federal Home Loan Bank shall be accepted if any director, officer, employee, attorney, or agent of the Federal Home Loan Bank or of the borrowing institution is personally...
Page 1 - ... for a period of three years from the date of enactment of this Act all outstanding bonds of the United States heretofore issued or issued during such period, bearing interest at a rate not exceeding 3% per centum per annum, shall be receivable by the Treasurer of the United States as security for the issuance of circulating notes to national banking associations, and upon the deposit with the Treasurer of the United States by a national banking association of any such bonds, such association...