Federal Home Loan Bank Amendments, Hearings Before ..., 80-2 on S. 2416 ... S. 2417 ..., April 28, May 24 and 28, 1948 |
From inside the book
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Page 3
... tion was established in 1934 , its total losses through the year 1947 have aggre- gated only 11 percent of premium income and slightly more than 5 percent of gross income . Total estimated losses during the nearly 14 years of experience ...
... tion was established in 1934 , its total losses through the year 1947 have aggre- gated only 11 percent of premium income and slightly more than 5 percent of gross income . Total estimated losses during the nearly 14 years of experience ...
Page 4
... tion of these are undoubtedly kept out of the insured system because of the present premium rate . The reduction in the premium rate as here proposed should attract large numbers of sound but uninsured associations into the insured sys ...
... tion of these are undoubtedly kept out of the insured system because of the present premium rate . The reduction in the premium rate as here proposed should attract large numbers of sound but uninsured associations into the insured sys ...
Page 10
... tion from issuing debentures in accordance with the provisions of subsection ( b ) of section 404. For the purposes of this subsection the Secretary of the Treasury is authorized to use as a public - debt transaction the proceeds of the ...
... tion from issuing debentures in accordance with the provisions of subsection ( b ) of section 404. For the purposes of this subsection the Secretary of the Treasury is authorized to use as a public - debt transaction the proceeds of the ...
Page 17
... tion will be required to pay a return on its stock to the Treasury at a rate comparable to the going cost of money to the Treasury . The Corporation will also begin to retire its stock in an orderly manner , using up to 50 percent of ...
... tion will be required to pay a return on its stock to the Treasury at a rate comparable to the going cost of money to the Treasury . The Corporation will also begin to retire its stock in an orderly manner , using up to 50 percent of ...
Page 21
... tion Control Act , audits by the General Accounting Office of the finan- cial transactions of a Federal home - loan bank shall not be limited to periods during which Government capital has been invested therein . In addition , the ...
... tion Control Act , audits by the General Accounting Office of the finan- cial transactions of a Federal home - loan bank shall not be limited to periods during which Government capital has been invested therein . In addition , the ...
Common terms and phrases
amendments to H. R. amount equal annually bill as passed bonds borrow Budget Bureau capital stock centum Chairman Congress consideration the current Corporation's current average rate Deposit Insurance Corporation Divers ELLINGSON emergency enactment FDIC Federal association Federal Deposit Insurance Federal Home Loan Federal home-loan banks Federal Reserve System Federal Savings fiscal FITZPATRICK Foley Government capital Government Corporation Control HOLC Home Loan Bank Home Owners income insurance of accounts insured institutions insured members investments legislation Liberty Bond liquidity loan associations Loan Bank Act Loan Bank Board Loan Bank System loan business Loan Corporation Loan Insurance Corporation Loan League losses member institutions ment mortgage loans National Housing Act one-twelfth outstanding marketable obligations paid premium charge premium rate premium reduction President proposed amendment provision public funds purchase obligations rate on outstanding retirement Savings and Loan Secretary Senator CAIN stock equal subsection termination of insurance tion Treasury support undivided profits WIGGINS
Popular passages
Page 14 - Each such obligation shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding marketable obligations of the United States as of the last day of the month preceding the issuance of the obligation of the bank.
Page 57 - States, and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 3 - If any provision of this Act, or the application of such provision to any person or circumstances, shall be held invalid, the remainder of this Act, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.
Page 10 - The Secretary of the Treasury, in his discretion, is authorized to purchase any obligations of the Corporation issued hereunder, and for such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities hereafter issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of the Corporation's obligations hereunder.
Page 42 - Corporation may legally impose under section 403 of title IV of the National Housing Act, as now or hereafter amended, and the association shall upon conversion and thereafter be authorized to issue securities in any form...
Page 40 - ... such notice shall be mailed, postage prepaid, at least twenty and not more than thirty days prior to the date of the meeting, to each member of record of the Federal...
Page 10 - Treasury may sell, upon such terms and conditions and at such price or prices as he shall determine, any of the obligations acquired by him under this subsection. All purchases, and sales by the Secretary of the Treasury of such obligations under this subsection shall be treated as public debt transactions of the United States.
Page 11 - The Corporation is authorized to borrow from the Treasury, and the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the Corporation and the Secretary, such funds as in the judgment of the Board of Directors of the Corporation are from time to time required for insurance purposes, not exceeding in the aggregate $3,000,000,000 outstanding at any one time...
Page 51 - No Act of Congress hereafter passed shall be construed to make an appropriation out of the Treasury of the United States, or to authorize the execution of a contract involving the payment of money in excess of appropriations made by law, unless such Act shall in specific terms declare an appropriation to be made or that a contract may be executed.
Page 44 - In order to provide local mutual thrift institutions in which people may invest their funds and in order to provide for the financing of homes, the Board is authorized, under such rules and regulations as it may prescribe, to provide for the organization, incorporation, examination, operation, and regulation of associations to be known as "Federal Savings and Loan Associations...