Regulation of Bank Mergers: Hearings Before the Committee on Banking and Currency, United States Senate, Eighty-sixth Congress, First Session, on S. 1062, Volumes 22-23 |
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Page 5
... statute to guide him in his consideration of the application . No bank insured by FDIC may merge with an uninsured bank without obtain- ing the permission of FDIC ; and no insured bank may merge with another insured bank without ...
... statute to guide him in his consideration of the application . No bank insured by FDIC may merge with an uninsured bank without obtain- ing the permission of FDIC ; and no insured bank may merge with another insured bank without ...
Page 9
... statutes governing financial institutions and credit . The great bulk of this bill treats matters beyond this Department's direct concern . Only a few of its provisions cover problems on which we might helpfully comment . Of these , I ...
... statutes governing financial institutions and credit . The great bulk of this bill treats matters beyond this Department's direct concern . Only a few of its provisions cover problems on which we might helpfully comment . Of these , I ...
Page 13
... statutes . " 23 From this , it seems clear , Clayton Act section 7's standard , under present law as well as the pending proposal , must be considered by the Board in passing on formations of , or acquisitions by , bank holding ...
... statutes . " 23 From this , it seems clear , Clayton Act section 7's standard , under present law as well as the pending proposal , must be considered by the Board in passing on formations of , or acquisitions by , bank holding ...
Page 43
... statutes on this subject need to be implemented with more definite standards than are now included therein . 3. You ask whether , " If S. 1062 should be enacted into law , do you think that would make future bank mergers easier or more ...
... statutes on this subject need to be implemented with more definite standards than are now included therein . 3. You ask whether , " If S. 1062 should be enacted into law , do you think that would make future bank mergers easier or more ...
Page 45
... statute to bank mergers effected by means of asset acquisitions . This is among the reasons which emphasize the need for enactment of a statute such as S. 1062 which would impose competitive standards upon bank mergers . Sincerely yours ...
... statute to bank mergers effected by means of asset acquisitions . This is among the reasons which emphasize the need for enactment of a statute such as S. 1062 which would impose competitive standards upon bank mergers . Sincerely yours ...
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Common terms and phrases
1st sess 84th Cong 85th Congress amend American Bar Association antitrust laws Antitrust Subcommittee application Attorney Bank Holding Company bank mergers bank supervisory agencies banking agencies Banking and Currency bill Board of Governors branch banking Calif California Bank CELLER CHAIRMAN City Clayton Act Commerce Comptroller Congress create a monopoly Department of Justice Deposit Insurance Corporation effect FDIC Federal bank supervisory Federal Deposit Insurance Federal Reserve Board Federal Reserve System GIDNEY Holding Company Act insured bank legislation lessen competition unduly lessening of competition merge merger or consolidation MERGERS AND PURCHASE Name of absorbed Name of receiving Nat'l National Bank Newark number of banks Philadelphia provides public interest PURCHASE AND SALE receiving bank regulation require resources of absorbed resulting bank SALE TRANSACTIONS APPROVED Savs Security Trust Co Senator FREAR Senator MUSKIE substantially to lessen tend to create tend unduly tion Tr.Co trust companies U.S. Senate unduly to create WILLIS ROBERTSON
Popular passages
Page 201 - That nothing herein contained shall render illegal, contracts or agreements prescribing minimum prices for the resale of a commodity which bears, or the label or container of which bears, the trade mark, brand, or name of the producer or distributor of such commodity and which is in free and open competition with commodities of the same general class produced or distributed by others, when contracts or agreements of that description are lawful as applied...
Page 3 - System and that consideration has been given to the financial history and condition of the bank, the adequacy of its capital structure, its future earnings prospects, the general character of its management, the convenience and needs of the community to be served by the bank, and whether or not its corporate powers are consistent with the purposes of the Federal Deposit Insurance Act.
Page 119 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation...
Page 47 - Corporation, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System.
Page 202 - That no corporation engaged in commerce shall acquire, directly or indirectly, the whole or any part of the stock or other share capital of another corporation engaged also in commerce where the effect of such acquisition may be to substantially lessen competition...
Page 202 - Commission shall acquire the whole or any part of the assets of another corporation engaged also in commerce, where in any line of commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly.
Page 186 - ... short line constructed by an independent company where there is no substantial competition between the company owning the branch line so constructed and the company owning the main line acquiring the property or an interest therein...
Page 203 - ... and the prospect of rehabilitation so remote that it faced the grave probability of a business failure with resulting loss to its stockholders and injury to the communities where its plants were operated, we hold that the purchase of its capital stock by a competitor (there being no other prospective purchaser), not with a purpose to lessen competition, but to facilitate the accumulated business of the purchaser and with the effect of mitigating seriously injurious consequences otherwise probable,...
Page 52 - Nothing contained in this section shall apply to transactions duly consummated pursuant to authority given by the Civil Aeronautics Board, Federal Communications Commission, Federal Power Commission, Interstate Commerce Commission, the Securities and Exchange Commission...
Page 115 - ... (1) the financial history and condition of the company or companies and the banks concerned; (2) their prospects; (3) the character of their management; (4) the convenience, needs, and welfare of the communities and the area concerned; and (5) whether or not the effect of such acquisition or merger or consolidation would be to expand the size or extent of the bank holding company system involved beyond limits consistent with adequate and sound banking, the public interest, and the preservation...