Study of Banking Laws: Legislative Recommendations of the Federal Supervisory Agencies to the Committee on Banking and Currency, United States Senate

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Contents

Branches retained after consolidation or
9
Capital of outside branches
10
School savings programs
11
Payment of stock in national bank
12
Unearned dividends
13
Increase of capital by vote of shareholders
14
Cumulative voting in the election of national bank direc
15
Reserves required by holding company affiliates
16
Shareholders lists
17
Shareholders individual liability
18
Shareholders individual liability upon liquidation
19
Election of national bank directors
20
Removed director or officer voting stock
21
Liabilities of national banks under Reconstruction Finance Cor poration Act
22
Exceptions to 10 percent limit on obligations
23
Exception to 10 percent limitation on obligations covering dairy cattle
24
Loans secured by obligations of the United States
25
Banking facilities at military posts
26
Reserves of national banks outside the United States
27
Reports made to the Comptroller of the Currency
28
Report of dividends and net earnings
29
Shareholder approval of sale of assets in voluntary liquidatio
30
Personal liability of shareholders in receivership
31
FDIC as receiver of national bank
32
Appointment of conservators
33
Trust activities of national banks
34
Limitations on real estate loans
35
Deposits by persons or corporations not supervised by any State authority
36
Contributions by the FDIC and the Federal Reserve Board to the Comptroller
37
Furnishing confidential information to Federal intermediate credit banks
38
National agricultural credit corporations
39
Bonds of Home Owners Loan Corporation as lawful investments
40
Acting Comptroller of the Currency on Board of the FDIC
41
Mergers or consolidations by insured banks
42
Use of certain words as part of business name
43
National bank examination reports privileged against disclosure
44
Letter of transmittal 46 Reserve Bank Organization Committee
46
Subscription by national banks to Federal Reserve bank stock
47
Liability incident to ownership of Federal Reserve bank stock
48
Subscription to Federal Reserve bank stock by the public and the United States
49
Original organization of Reserve banks
50
Federal Reserve bank directors residents of district
51
Service on Reserve bank boards or Federal Advisory Council
52
Federal Reserve agents and assistant Federal Reserve agents
53
Payment of Reserve bank earnings to Treasury
54
Use by Treasury of funds received from Federal Reserve banks
55
Taxation of Federal Reserve bank stock
56
Capital notes and debentures eligible for purchase by Reconstruc tion Finance Corporation
57
Reports from member banks
58
References to section 12B of the Federal Reserve Act
59
Stock acquisitions in connection with absorptions
60
Obsolete provisions regarding Federal Reserve Board members
61
Reference to number of Board members
62
Merged or consolidated bank as branch office 45A Administration of pension profitsharing and employee wel OS fare or benefit funds of employees...
63
Federal Reserve branch buildings
64
Advances to groups of member banks
65
Simple majority for all Board actions
66
Fiscal agency operations of Reserve banks
67
Incorrect reference to section 20 of the Federal Reserve
68
8
69
References to bonds issued under Home Owners Loan Act
70
52
74
ii
83
63
87
bonds of Federal Farm Mortgage Corporation
94
References to national agricultural credit corporations
95
Repurchase agreements of Federal Reserve banks 73 Settlement fund
96
Federal Reserve notes
97
Obsolete provision as to loans to executive officers of member banks 81 Loans to executive officersdollar exemption
109
Liability of depositor as stockholder of closed bank_
110
Investment by national banks in foreign financing corporations 83 Powers of foreign branches of national banks
111
Procedure for removal of directors and officers
112
Bank mergers
113
Regulation of bank mergers
114
Loans to examiners of the Corporation
115
Letter of transmittal 86 Term of office of appointive directors
117
Comptroller of the Currency as a member of Board
118
Definitions
119
Trust funds in a noninsured bank
120
Exclusion from deposit insurance of deposits of branches in Alaska Hawaii or the Virgin Islands_ 91 Insurance of interest on deposits
121
Transferred deposit as payment of insured deposit in a closed bank
122
Definition of branch 94 Insurance of deposits in national banks
123
Change of term thorough examination to examination 96 Maintenance of assessment records 97 Assessment credits 98 Limitation on actions for asse...
124
Advances by Federal home loan banks
125
98
126
Obligations of Federal home loan banks
127
Interbank transactions of Federal home loan banks
128
Required investments of Federal home loan banks
129
Judicial proceedings involving Federal home loan banks
130
102
131
Exemption from taxation
132
Eligibility of bank obligations as investments
133
106
134
The Federal Home Loan Bank Board
135
108
136
Powers and duties of examiners_
137
Interagency services
138
109
139
111
140
112
141
Definitions
142
113
143
Administrative proceedings
144
Investments by Secretary of the Treasury in Federal savings and loan associations
145
Conversions
146
Promotion of savings and loan associations
147
Territorial applicability of
148
117
151
119
153
120
154
122
155
123
159
124
161
125
162
127
165
130
167
Recommendations of the Federal Home Loan Bank BoardContinued Page 151 Insured accounts of fiduciaries
189
Insured accounts of public units
190
153
191
155
192
signia
194
Regulation of insured institutions
195
159
196
Premium adjustments
197
162
198
Termination of insured status
201
Criminal Provisions 164 Commissions or gifts for procuring loans
204
165
205
166
206
167
207
169
208
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176
212

Common terms and phrases

Popular passages

Page 26 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 7 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking...
Page 28 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 150 - ... means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State In which the real estate Is located, together with the credit instruments, if any, secured thereby.
Page 41 - Such receiver, under the direction of the Comptroller, shall take possession of the books, records, and assets of every description of such association, collect all debts, dues, and claims belonging to it, and, upon the order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, may sell all the real and personal property of such association, on such terms as the court shall direct ; and may, if necessary to pay the debts of sucu association,...
Page 20 - No association, or any member thereof, shall, during the time it shall continue its banking operations, withdraw, or permit to be withdrawn, either in the form of dividends or otherwise, any portion of its capital.
Page 30 - Whoever violates any of the provisions of this subsection shall, upon conviction, be fined not more than $5,000, or imprisoned for not more than five years, or both. (d) The term "person" as used in this section means an individual partnership, corporation or association.
Page 179 - ... be set aside. A copy of such petition shall be forthwith served upon the commission or board, and thereupon the commission or board forthwith shall certify and file in the court a transcript of the record as hereinbefore provided.
Page 91 - April 24, 1917, or certificates of indebtedness of the United States, Treasury bills of the United States, or obligations fully guaranteed both as to principal and interest by the United States...
Page 23 - ... every stockholder shall have the right to vote in person or by proxy the number of shares owned by him...

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