S. 3678 and H.R. 15073

BILLS TO AMEND THE FEDERAL DEPOSIT INSURANCE ACT
TO REQUIRE INSURED BANKS TO MAINTAIN CERTAIN REC-
ORDS, TO REQUIRE THAT CERTAIN TRANSACTIONS IN UNITED
STATES CURRENCY BE REPORTED TO THE DEPARTMENT OF
THE TREASURY, AND FOR OTHER PURPOSES

COMMITTEE ON BANKING AND CURRENCY

JOHN SPARKMAN, Alabama, Chairman

WILLIAM PROXMIRE, Wisconsin

WALLACE F. BENNETT, Utah

EDWARD W. BROOKE, Massachusetts

HARRISON A. WILLIAMS, JR., New Jersey JOHN G. TOWER, Texas

EDMUND S. MUSKIE, Maine

THOMAS J. MCINTYRE, New Hampshire
WALTER F. MONDALE, Minnesota
ERNEST F. HOLLINGS, South Carolina
HAROLD HUGHES, Iowa

ALAN CRANSTON, California

CHARLES H. PERCY, Illinois
CHARLES E. GOODELL, New York

ROBERT W. PACKWOOD, Oregon

DUDLEY L. O'NEAL, Jr., Staff Director and General Counsel
JOHN R. EVANS, Minority Staff Director

SUBCOMMITTEE ON FINANCIAL INSTITUTIONS

WILLIAM PROXMIRE, Wisconsin, Chairman

HARRISON A. WILLIAMS, JR., New Jersey EDWARD W. BROOKE, Massachusetts

JOHN SPARKMAN, Alabama

EDMUND S. MUSKIE, Maine

THOMAS J. MCINTYRE, New Hampshire
WALTER F. MONDALE, Minnesota

WALLACE F. BENNETT, Utah

CHARLES H. PERCY, Illinois
CHARLES E. GOODELL, New York

KENNETH A. MCLEAN, Professional Staff Member

(II)

KF26
8345

1970

CONTENTS

eport from Federal Reserve System.

H.R. 15073..

CHRONOLOGICAL LIST OF WITNESSES

MONDAY, JUNE 8

Will Wilson, Assistant Attorney General, Department of Justice,

accompanied by Whitney North Seymour, Jr., U.S. Attorney, Southern

District of New York, and Robert Rosthal, Deputy Chief, Government

Operations Section, Criminal Division__.

Hamer H. Budge, Chairman, Securities and Exchange Commission,

accompanied by Irving M. Pollack, Director, Division of Trading and

Markets; Stanley Sporkin, Associate Director (Enforcement), Division

of Trading and Markets; Philip A. Loomis, Jr., general counsel, and

Ira H. Pearce, special counsel..

TUESDAY, JUNE 9

Eugene T. Rossides, Assistant Secretary for Enforcement and Operations,

Department of the Treasury, accompanied by Robert Cole,

Special Assistant for International Tax Affairs; William L. Dickey,

Deputy Assistant Secretary; Bernard Mehan, Special Assistant, Compli-

ance Staff, Internal Revenue Bureau; and Robert Rostahl, Deputy Chief,

Government Operations Section, Department of Justice...

Carl W. Desch, senior vice president, First National City Bank, accom-

panied by Roy Haberkern, partner, Millbank, Tweed, Hadley & McCloy,

New York City; and John F. Lee, executive vice president, New York

Clearing House Association_

C. Coleman McGehee, president, First & Merchants National Bank,

Richmond, Va., accompanied by William Boyd, Jr., senior vice president

and manager, international banking, Pittsburgh National Bank, Pitts-

burgh, Pa..

Robert W. Haack, president, New York Stock Exchange; accompanied by

Donald L. Calvin__.

285

Frank J. Wilson, vice president and associate counsel, National Association

of Securities Dealers, Inc. on behalf of Henri L. Froy, chairman, Foreign

Committee, National Association of Securities Dealers, Inc..

Robert W. Wilson, Robert W. Wilson Investments, New York;

accompanied by Carl L. Shipley__

299

310

ALPHABETICAL LIST OF WITNESSES

Boyd, William Jr., senior vice president and manager, international bank-

ing, Pittsburgh National Bank..

236

Budge, Hamer H., Chairman, Securities and Exchange Commission

Calvin, Donald L., vice president, New York Stock Exchange___

73

285

(III)