Prepared statements: Consumer and community organizations: Consumer Federation of America (CFA); Consumers Unio Gaiswinkler, Robert S MAY 6, 1986 Kuthy, Eugene W., commissioner of financial institutions, S and vice president, Conference of State Bank Supervisors (C Levy, Gerald J., chairman, U.S. League of Savings Institution Rideout, Thomas P., treasurer, American Bankers Association APPENDIX Albright, Harry W., chairman, U.S. League's FDIC Liaison dated May 5, 1986. Letters of invitation to witnesses of this day.. Prepared statements: Kuthy, Eugene W Levy, Gerald J. Rideout, Thomas P. MAY 7, 1986 Angermueller, Hans H., vice chairman, Citicorp, NA. LaWare, John P., chairman-elect, Association of Bank Hol chairman of the board and chief executive officer, Shawm MA, accompanied by John S. Rippey, senior vice presiden tion...... Petty, John R., chairman, Marine Midland Banks (III) IV Page Volcker, Hon. Paul A., Chairman, Board of Governors of the Federal Reserve 178 Angermueller, Hans H., letter dated June 14, 1985, to Chairman St Germain, re bank expansion such as Citicorp has benefited... 319 244-246, 257-259 300 308 294 260 285 334 247, 288 351 242 St Germain, Chairman Fernand J., letter to Hon. Paul A. Volcker, Chairman, Board of Governors of the Federal Reserve System, dated May 12, 1986, containing written questions "Survey of State Interstate Banking Laws” memorandum to Hon. Charles E. Schumer from the Congressional Research Service, Library of Congress, dated May 2, 1986 Volcker, Hon. Paul A., response to questions of: Chairman St Germain. Hon. Bill McCollum Wylie, Hon. Chalmers P., opening statement.. MAY 8, 1986 Clarke, Hon. Robert L. Comptroller of the Currency Gould, Hon. George D., Under Secretary for Finance, Department of the 463 452 Gray, Hon. Edwin J., Chairman, Federal Home Loan Bank Board.. 457 461 466 MATERIAL SUBMITTED FOR INCLUSION IN THE RECORD Clarke, Hon. Robert L., response to information requested by Chairman St 493 Seidman, Hon. L. William, response to information requested by Chairman St 472 APPENDIX Association of Thrift Holding Companies, letter dated May 12, 1986, from 606 Coalition for Regional Banking and Economic Development, letter dated May 1, 1986, from Brian R. Foster, president........... Seidman, Hon. L. William, letter dated May 6, 1986, responding to questions of Chairman St Germain 539 < Page serve 178 217 main, 319 46, 257-259 TO PRESERVE THE AUTHORITY OF THE FE THURSDAY, MAY 1, 1986 HOUSE OF REPRESENTATIVES, SUBCOMMITTEE ON FINANCIAL INSTITUTIONS, COMMITTEE ON BNAKING, FINANCE AND URBAN AFFAIRS The subcommittee met at 10:05 a.m. in room 2128, R House Office Building; Hon. Fernand J. St Germain (chair the subcommittee) presiding. Present: Chairman St Germain, Representatives Barna Falce, Vento, Frank, Cooper, Kaptur, Kanjorski, Wylie, W Dreier, Roukema, Bereuter, Bartlett, and Roth. Also present: Representative Carper of the full committee. Chairman ST GERMAIN. The subcommittee will come to or This morning we open hearings on H.R. 4701, a bank package, introduced at the request of the Federal bank supe agencies. This is the first of a series of hearings on legislation devel the administration and the Federal agencies to facilitate er cy interstate acquisitions, provide additional resources FSLIC and enhance the Federal Home Loan Bank Board su ry powers. The focus of today's hearings on H.R. 4701 would libera emergency provisions of Garn-St Germain. It would give regulators increased powers to determine when, where, a banks can merge, acquire and branch across the Nation, co with the interstate activity already being carried out under al compacts and the existing provisions of Garn-St Germain. This newest proposal, if enacted, would go a long way ending the debate over the merits of interstate banking. Now in considering this emergency banking bill, let us no that there is other banking legislation that is long, long o and on which this committee has taken action. For instance, H.R. 20, which closed the nonbank bank 1 remains in the Rules Committee, where it has resided guished for almost 11 months. Now it is an essential piece lation, unless we intend to simply disband all pretense of ap ate bank supervision and regulation. (1) 3 sumer has ss to insist imely fashwas passed ntly unno ble energy 7 fast they eir energy I awaiting ency; how›r 2 weeks is the ne To preserve the authority of the Federal banking supervisory agencies to arran interstate acquisitions and mergers for failed and failing banks, and for oth purposes. IN THE HOUSE OF REPRESENTATIVES APRIL 29, 1986 Mr. ST GERMAIN (for himself and Mr. WYLIE) (by request) introduced the follo ing bill; which was referred to the Committee on Banking, Finance a Urban Affairs A BILL To preserve the authority of the Federal banking supervisor agencies to arrange interstate acquisitions and mergers f failed and failing banks, and for other purposes. 1 Be it enacted by the Senate and House of Represent 2 tives of the United States of America in Congress assemble 3 4 SHORT TITLE SECTION 1. This Act may be cited as the "Financi 5 Institutions Emergency Acquisitions Amendments of 1986 6 7 ASSISTED EXTRAORDINARY ACQUISITIONS SEC. 2. Section 13(f) of the Federal Deposit Insuran 8 Act (12 U.S.C. 1823(f)) is amended 9 (1) by amending paragraph (1) to read as follow |