National Housing Act: Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-third Congress, Second Session, on H.R. 9620, a Bill to Improve Nation-wide Housing Standards, Provide Employment, and Stimulate Industry; to Improve Conditions with Respect to Home-mortgage Financing, to Prevent Speculative Excesses in New-mortgage Investment, and to Eliminate the Necessity for Costly Second-mortgage Financing, by Creating a System of Mutual Mortgage Insurance and by Making Provision for the Organization of Additional Institutions to Handle Home Financing; to Promote Thrift and Protect Savings; to Amend the Federal Home Loan Bank Act; to Amend the Federal Reserve Act; and for Other Purposes. May 18, 25, 26, 28, 29, 30, 31, June 1, 2, 4, 1934 |
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Page 2
... Banking and Currency. words , 1,350,000 families , representing more than 6,000,000 people , are receiving relief who ... banks to be used for socially useful purposes that are directed to the heavy industries and to the employment of the ...
... Banking and Currency. words , 1,350,000 families , representing more than 6,000,000 people , are receiving relief who ... banks to be used for socially useful purposes that are directed to the heavy industries and to the employment of the ...
Page 4
... Banking and Currency. The two other insurance plans are designed to be self - supporting .. One of them is the ... banks and tried to rehabilitate them to take their part in the revival of the construction industry . Now , it is my ...
... Banking and Currency. The two other insurance plans are designed to be self - supporting .. One of them is the ... banks and tried to rehabilitate them to take their part in the revival of the construction industry . Now , it is my ...
Page 7
... bank deposits of the country are owned by less than 1 percent of the bank accounts , and the banks do not loan these deposits or have not done so . There is one of two ways , or a combination of two ways , of getting this money into ...
... bank deposits of the country are owned by less than 1 percent of the bank accounts , and the banks do not loan these deposits or have not done so . There is one of two ways , or a combination of two ways , of getting this money into ...
Page 11
... Banking and Currency. I think perhaps the only other feature that should be explained , that is of some importance , is ... banks . In its effect on the depression and the economic structure , it has not attracted as much attention as the ...
... Banking and Currency. I think perhaps the only other feature that should be explained , that is of some importance , is ... banks . In its effect on the depression and the economic structure , it has not attracted as much attention as the ...
Page 12
... banks of the country , as a whole , are today at their peak and , according to the National Association of Savings Banks at their convention in New York this week , the next couple . of months will show a record so far as deposits in ...
... banks of the country , as a whole , are today at their peak and , according to the National Association of Savings Banks at their convention in New York this week , the next couple . of months will show a record so far as deposits in ...
Common terms and phrases
20 percent agencies amendments amount assets BEEDY bill billion dollars BODFISH bonds borrower BROWN building and loan BUSBY CAVICCHIA CHAIRMAN committee construction cost course debentures debt deferred payments deposits ECCLES existing mortgages FAHEY FARRINGTON Federal Home Loan Federal Reserve System financing foreclosed foreclosure gages going GOLDSBOROUGH Government Government bonds guarantee HARRIMAN Home Loan Bank Home Owners HOPKINS housing income industry insurance companies Insurance Corporation insured mortgages interest rates investment Johns-Manville legislation lender lending institutions limit loan associations Loan Bank Board Loan Corporation losses LUCE MEEKS ment MILLER Miss PERKINS mort mortgage loans mortgage market Motors Acceptance Corporation national mortgage associations obligations operation POTTER PRALL premium purchase purpose question real estate Reconstruction Finance Corporation REILLY repair RUSSELL savings banks SPENCE statement thing tion understand WATSON WILLIAMS WOLCOTT
Popular passages
Page 122 - That the management of the Corporation shall be vested in a board of directors, consisting of...
Page 235 - There is hereby created a body corporate to be known as the Environmental Financing Authority, which shall have succession until dissolved by Act of Congress.
Page 364 - The Corporation shall be entitled to the free use of the United States mails for its official business in the same manner as the executive departments of the Government, and shall determine its necessary expenditures under this act and the manner in which they shall be incurred, allowed, and paid, without regard to the provisions of any other law governing the expenditure of public funds.
Page 18 - Moneys of the Corporation not required for current operations shall be deposited in the Treasury of the United States, or upon the approval of the Secretary of the Treasury, in any Federal Reserve bank, or shall be invested in obligations of, or guaranteed as to principal and interest by, the United States. When designated for that purpose by the Secretary of the Treasury, the Corporation shall be a...
Page 363 - Such associations, including their franchises, capital, reserves, and surplus, and their loans and income, shall be exempt from all taxation now or hereafter imposed by the United States (except the taxes imposed by sections...
Page 312 - States; (2) is subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States...
Page 317 - SEC. 12. There is hereby created a Federal Advisory Council, which shall consist of as many members as there are Federal reserve districts each Federal reserve bank by its board of directors shall annually select from its own Federal reserve district one member of said council, who shall receive such compensation and allowances as may be fixed by his board of directors subject to the approval of the Federal Reserve Board.
Page 17 - ... regulations made by the Corporation, before paying dividends to its insured members; but such regulations shall require the building up of reserves to 5 per centum of all insured accounts within a reasonable period, not exceeding twenty...
Page 363 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 63 - Based upon reports received monthly by the Division of Research and Statistics of the Federal Home Loan Bank Board from recorders...