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Cummings, Richard, executive vice president, National Bank of Detroit..
Davis, Stuart, chairman of the board, Great Western Financial Corp., and
Great Western Savings & Loan Association; accompanied by James F.
Montgomery, president..

Page

447

1916

DeLuca, Mario, vice president, Institute of Foreign Bankers.
Dembitz, Lewis M., consultant, Institute of Foreign Bankers-
Donovan, Gene, president, Prudential Federal Savings & Loan Association,
Salt Lake City, Utah..

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1808

1889

DuBois, Pat, chairman, Federal Legislative Committee, Independent
Bankers Association of America. - .

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1463

Duwe, J. Rex, president, American Bankers Association--
Edwards, Raymond D., chairman of the board, Glendale Federal Savings
& Loan, Glendale, Calif.; accompanied by Dr. David L. Smith, vice
president and chief economist__

Faris, James E., director, Indiana Department of Financial Institutions,
on behalf of the Conference of State Bank Supervisors; accompanied by
Dr. Lawrence E. Kreider, executive vice president and economist..
Friedman, Dr. Milton, Paul Snowden Russell Distinguished Service
Professor of Economics, Department of Economics, University of
Chicago...

Fugate, Ivan, member, Federal Legislative Committee, Independent
Bankers Association of America_.

Gardner, Hon. Stephen S., Deputy Secretary of the Treasury.
Gelder, Ralph H., superintendent of banking, State of Maine.
Goble, B. David, president, National Association of Federal Credit Unions;
accompanied by James C. Barr, executive vice president; John Hutchin-
son, chairman, Federal Legislative Committee; Frank Wielga, chairman,
Research and Development Committee; Fred Haden, general counsel;
and Dick McConnell, director of legislative research.
Goldfinger, Nathaniel, director, Research Department, American Federa-
tion of Labor and Congress of Industrial Organizations (AFL-CIO);
accompanied by Dr. Henry Schechter, director, Urban Affairs Depart-
ment, AFL-CIO.

Greenwood, Harold W., Jr., chairman, Legislation Committee, National
Savings & Loan League; accompanied by Arthur Tonsmeire, president;
Henry A. Carrington, executive vice president; and William Hallahan,
economic consultant...

Guttentag, Jack M., professor of banking, Wharton School, University of
Pennsylvania.

Haywood, Dr. Charles, consultant, American Bankers Association.
Hellie, M. R., president, Credit Union National Association, Inc. (CUNA);
accompanied by R. C. Morgan, chairman, Governmental Affairs Com-
mittee; Jonathan Lindley, director, Washington office; and Donald J.
Melvin, retained legislative counsel.

Herman, Dr. Edward S., professor, Wharton School of Finance, University
of Pennsylvania___.

Hester, Dr. Donald, professor, University of Wisconsin.......

Holland, Hon. Robert C., member, Board of Governors of the Federal
Reserve System.......

1930

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591

814

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1664

485

1471

1347

327

335

1540, 2192

Hollos, Paul E., president, Institute of Foreign Bankers; accompanied by
Gilles J. Teze, fcrmer trustee..

1802

Hunter, Oakley, chairman of the board and president, Federal National
Mortgage Association....

Jackson, Hon. Philip C., Jr., member, Board of Governors of the Federal
Reserve System...

699

Johnson, Edward L., chairman and president, Financial Federation, Inc..
Kane, Dr. Edward J., Everett D. Reese Professor of Banking and Monetary
Economics, Ohio State University.

2216 2128

112

Kauper, Hon. Thomas E., Assistant Attorney General, Department of
Justice; accompanied by Neil Roberts, Acting Chief, Evaluation Section,
Antitrust Division...

Krause, Dr. Lawrence B., Brookings Institution__

Leary, Fairfax, professor of law, Temple University School of Law..

227 1101

888

V

Lewis, William B., deputy commissioner, Department of Banking, savings
and loan division, State of New Jersey, on behalf of the National Associa-
tion of State Savings and Loan Supervisors; accompanied by Alvis
Vandygriff, deputy commissioner for savings and loan associations,
State of Texas; William Bergman, executive vice president, National
Association of State Savings and Loan Supervisors; and Frank Gailor,
counsel..

Loomis, Hon. Philip A., Jr., Commissioner, Securities and Exchange
Commission..

Lowery, James, director, National Task Force on Credit Policy, Los
Angeles, Calif.; accompanied by Jeffrey Zinsmeyer, Washington repre-
sentative.

McPeters, W. Liddon, president-elect, American Bankers Association_
Marston, Hon. Garth, Acting Chairman, Federal Home Loan Bank Board;
accompanied by Donald M. Kaplan, Chief Economist...
Mayer, Dr. Thomas, professor, Department of Economics, University of
California at Davis__

Page

839

2265

967

1466

1133

58

Meltzer, Dr. Allan H., Maurice Falk Professor of Economics and Social
Science, Carnegie-Mellon University.

79

Melville, Richard A., president, Allied Bank International, New York,
N.Y

Mitchell, Hon. George W., Vice Chairman, Board of Governors of the
Federal Reserve System...

Modigliani, Dr. Franco, professor, Sloan School, Massachusetts Institute
of Technology, and president, American Economic Association..
Nader, Ralph, consumer advocate..

Nickerson, Gen. Herman, Jr., Administrator, National Credit Union
Administration___.

Perkins, John H., chairman, Government Relations Council, American
Bankers Association_.

Pierce, Dr. James L., consultant and director of the FINE Study.
Pittman, Steuart L., counsel, Institute of Foreign Bankers...
Richardson, Lee, professor and chairman, Marketing Department, Lou-
isiana State University, on behalf of the Consumer Federation of
America..

Robertson, Hon. J. L., former member, Board of Governors, Federal
Reserve System.

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994

186

917

1181

1476

3

1807

2455

2289

312, 494

Schotland, Roy A., professor, Georgetown University Law School---
Scott, Kenneth E., professor of law, Stanford University Law School_____
Scott, Tom, Jr., legislative chairman, U.S. League of Savings Associations;
accompanied by Norman Strunk, executive vice president; and Dr.
Kenneth Thygerson, chief economist.-

479

1619

Silber, Dr. William L., professor, New York University-
Simons, Lawrence B., chairman, Special Committee on Housing Funds, Na-
tional Association of Home Builders; accompanied by Carl A. S. Coan,
Jr., staff vice president and legislative counsel...
Smith, Hon. James E., Comptroller of the Currency.
Swan, Dr. Craig, professor, University of Minnesota.
Tobin, Dr. James, Sterling Professor of Economics, Yale University.
Von Klemperer, Alfred H., senior vice president, Morgan Guaranty
Trust Co....

127

1288

2411

138

2368

Weicher, Hon. John C., Deputy Assistant Secretary for Policy Development and Research, Department of Housing and Urban Development. Wille, Hon. Frank, Chairman, Federal Deposit Insurance Corporation... Wolfe, Alexander McW., president, Bankers Association for Foreign Trade; accompanied by Jack R. Jessen, chairman, Committee on Foreign Banking in the United States; Douglas Smith, chairman, Policy Committee; and Thomas Farmer, counsel..

435

679

543

1791

American Economic Association, statement presented by Dr. Franco
Modigliani, president.

ADDITIONAL INFORMATION SUBMITTED FOR THE RECORD American Bankers Association, prepared statement presented on behalf by J. Rex Duwe, president --

1479

186

American Federation of Labor and Congress of Industrial Organizations, statement presented by Nathaniel Goldfinger, director, Research Department...

Balick, Sanford E., prepared statement..

Bankers Association for Foreign Trade, prepared statement presented on
behalf by Alexander McW. Wolfe..

Benda, Kenneth J., president, prepared statement presented on behalf
of the Independent Bankers Association of America..
Board of Governors of the Federal Reserve System, statement presented
by Hon. Arthur F. Burns, Chairman__

Brimmer, Dr. Andrew F., prepared statement entitled "Perspective on
Foreign Activities of American Banks”.

Brinkerhoff, Philip R., prepared statement with attached appendix
consisting of the following two parts: Part I dealing with current opera-
tions and part II dealing with future plans over the next 5 years.......
Burnham, I. W., II, prepared statement.-.
Chase, Samuel B., Jr., prepared statement..

Cincotta, Gale, prepared statement presented on behalf of National Peoples
Action on Housing...

Page 2339

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1737

1979

387

721

2015

300

2480

Conference of State Bank Supervisors, statement presented by James E.
Faris, president_

Comptroller of the Currency, Office of, statement presented by Hon.
James E. Smith, Comptroller.

2411

1224

Connell, Lawrence, Jr.:

Prepared statement with attached tables showing aggregate statement of condition of State-chartered savings and loan associations and mutual savings banks..

Reply to the following question of Congressman Gradison: Why are there not more mutual savings banks in Connecticut that have chosen to join the Federal Home Loan Bank System... Consumer Federation of America, statement presented on behalf by Prof. Lee Richardson, chairman, Marketing Department, Louisiana State University..

Crawford, Morris D., Jr.:

Charts 1 and 2.-"Shares of Household Savings and Time Deposit Growth," 27 months before and after July 1973 and 1946 through 1974 with also an attached table (data for chart 1)__

Prepared statement__

659

678

2455

863

793

Response to questions of:

Chairman Fernand J. St Germain..

886

Hon. Butler Derrick_.

873

Credit Union National Association, Inc. (CUNA), statement presented by M.R. Hellie, president-.

1347

Davis, Stuart and James F. Montgomery, prepared statement presented
jointly with attached article from the New York Times, dated Novem-
ber 10, 1975, entitled: "Shaking Up the Bank System".
Derrick, Hon. Butler, response to information requested of:

1920

Dr. Charles Haywood..

1520

W. Liddon McPeters

1518

Donovan, Gene, prepared statement relating to title I and title II of the
FINE "Discussion Principles"-

1892

Duwe, J. Rex:

Prepared statement presented on behalf of the American Bankers
Association _ _ _

1479

Reply to information requested by Chairman St Germain -
Reply to information requested by Congressman Rousselot.

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1539

Edwards, Raymond D., prepared statement with attached exhibit denoting
Characteristics of the Proposed Money Market Certificate____
Faris, James E.:

1934

Prepared statement on behalf of the Conference of State Bank Supervisors, with attached exhibits..

1229

Response to questions of Hon. Butler Derrick.

1281, 1282, 1283

Federal Deposit Insurance Corporation, statement presented by Hon.
Frank Wille, Chairman..

543

Federal Home Loan Bank Board, statement presented by Hon. Garth
Marston, Acting Chairman_

1133

Friedman, Dr. Milton:

Prepared statement__

Response to question of Hon. John H. Rousselot.. Gardner, Hon. Stephen S.:

Prepared statement...

Attachment:

Statement presented before the Senate Banking Committee
on S. 2298, December 8, 1975...

"Revenue Effects of Financial Institutions Act (Tax Provisions
Only) as Amended by Senate Banking Committee” (table) __
Response to question of Hon. Willis D. Gradison on the relative
incomes of savers versus mortgage borrowers.......

Gelder, Ralph H.:
Prepared statement..

Page

2158

2175

597

606

635

622

821

Response to question of Chairman Fernand J. St Germain in regard
to precluding financial institutions from using for an affiliate the

same name..

885

Gellman Research Associates, statement presented on behalf by Sanford E. Balick...

905

Glendale Federal Savings and Loan Association, Glendale, Calif., statement
presented by Raymond D. Edwards, chairman of the board..
Goble, B. David, prepared statement with attachments..
Goldfinger, Nathaniel, prepared statement.-

1930

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Great Western Financial Corp. and Great Western Savings & Loan Association, statement presented by Stuart Davis, chairman of the board_ Greenwood, Harold W., Jr., chairman, Legislation Committee, prepared statement presented on behalf of the National Savings & Loan League. Guttentag, Jack M., prepared statement. -

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1673 489

Haywood, Dr. Charles, reply to information requested by Hon. Butler
Derrick.

1520

Hellie, M.R., prepared statement on behalf of the Credit Union National
Association, with attached appendixes..

1355

Herman, Dr. Edward S., prepared statement.
Hester, Dr. Donald, prepared statement..

329

338

Holland, Hon. Robert C.:

Letter to Hon. Wright Patman dated February 17, 1976, regarding the desirability of Customs Brokerage House activities as an authorized activity for bank holding companies--

2237

Prepared statement submitted on January 22, 1976, on title I of the
FINE "Discussion Principles".

2196

Prepared statement submitted on December 17, 1975, with attached appendix entitled, "Recent Activities by the Federal Reserve in the Area of Banking Supervision and Regulation, Including Legislative Proposals and Regulatory and Administrative Actions". Response to questions of:

Chairman Henry S. Reuss

Hon. Butler Derrick.

Hon. Willis D. Gradison, Jr.

Response to request of Chairman Fernand J. St Germain to submit information regarding expansion of authority of credit unions ---Hollos, Paul E., president, prepared statement presented on behalf of the Institute of Foreign Bankers, with inclusion of articles from the American Banker and a statement from Golembe Associates, Inc., on title VI... Hunter, Oakley, prepared statement --

Independent Bankers Association of America, prepared statement presented on behalf by Kenneth J. Benda...

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703

1737

Institute of Foreign Bankers, prepared statement presented on behalf by Paul E. Hollos, with inclusion of articles from the American Banker and a statement from Golembe Associates, Inc., on title VI..

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Johnson, Edward L., prepared statement..

Justice, Department of, letter dated November 7, 1975, from Thomas E. Kauper, Assistant Attorney General, to Chairman Reuss, re Federal regulation and supervision of banks and bank holding companies-- -

511

Kane, Dr. Edward J., prepared statement on titles I and II of FINE
Study "Discussion Principles".

Kauper, Thomas E.:

Letter dated November 7, 1975, to Chairman Reuss, re issues raised in
questionnaire concerning Federal regulation and supervision of
banks and bank holding companies--.

Prepared statement...

Page

117

511

234

Replies to the following questions asked by Chairman Fernand J. St
Germain:

Specific examples of instances where restrictions on geographic
expansion have denied to individuals necessary banking services
and have precluded effective competition _ _

In reviewing the FINE "Discussion Principles" did the Justice
Department look at the composition of the suggested Com-
mission, of the Federal Depository Institutions Commission..
Approximately 50 percent of the S. & L.'s could be considered
small mom- and pop-type of business. If they were to convert
would they not then become very vulnerable to acquisition by
holding companies.--.

Leary, Fairfax, prepared statement_
Lewis, William B.:

290

293

294

894

Letter submitted on behalf from William S. Bergman, executive vice president, National Association of State Savings and Loan Supervisors, dated December 15, 1975, responding to a question of Chairman Fernand J. St Germain.

882

Prepared statement.

843

Loomis, Hon. Philip A., Jr.:

Memorandum responding to request of Hon. Wright Patman concerning disclosure requirements of bank regulatory agencies.

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McPeters, W. Liddon, reply to information requested by Hon. Butler
Derrick..

1518

Marston, Hon. Garth:

Article from the Federal Home Loan Bank Board Journal, March 1975, entitled "A Case Study-The First Savings & Loan Issued Mortgage-Backed Bond".

1217

Article from the Federal Home Loan Bank Board Journal, November
1975, entitled "Marketing Mortgage-Backed Bonds".
Article from the Savings and Loan News, November 1973, entitled
"The Case for Consumer Lending-New Studies Add Reasons To
Expand Loan Powers of Savings Associations".

1220

1201

Prepared statement presented on behalf of the Federal Home Loan
Bank Board..

1138

Mayer, Dr. Thomas:

Prepared statement..

61

Response to question of Chairman Fernand J. t Germain: Who do you feel should be charged with the responsibility for the international implications of our monetary policy?_

109

Meltzer, Dr. Allen H.:

Prepared statement..

83

Response to question of Chairman Fernand J. St Germain: Who do you feel should be charged with the responsibility for the international implications of our monetary policy?_

109

Melville, Richard A., prepared statement....

1109

Microdot, Inc., letter from the president of company to directors of Irving Trust Co., of New York regarding takeover by General Cable submitted for the record by Congressman Garry Brown...

2303

Mitchell, Hon. George W.:

Prepared statement with attached appendix..........

1004

Supplemental views and information submitted in letter dated January 19, 1976.

1098

Modigliani, Dr. Franco, prepared statement

194

Montgomery, James F., and Stuart Davis, joint prepared statement--

1920

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