To Provide for the Regulation of the Issuance and Sale of Debt Obligations by Bank Holding Companies and Their Subsidiaries: Hearing, Ninety-third Congress, Second Session, on H.R. 15869 ...U.S. Government Printing Office, 1974 - 114 pages |
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Page 42
... starts have stopped , literally stopped ? They picked up just a little bit this year , but how are we going to give decent homes to the American people if we cannot get the money in the mortgage market ? Mr. MITCHELL . Well , I think ...
... starts have stopped , literally stopped ? They picked up just a little bit this year , but how are we going to give decent homes to the American people if we cannot get the money in the mortgage market ? Mr. MITCHELL . Well , I think ...
Page 51
... starts are down by between a third and a half from last year . The proposed financing mechanism cannot have a beneficial effect on homebuilding ; it can only have a deleterious effect . Is that not true ? I mean we know that the thrift ...
... starts are down by between a third and a half from last year . The proposed financing mechanism cannot have a beneficial effect on homebuilding ; it can only have a deleterious effect . Is that not true ? I mean we know that the thrift ...
Page 53
... start with . Incidentally , I think when you are talking about variable mortgage rates , that is a sad commentary . Can you imagine a young couple entering into a 20 - year obligation for a mortgage at 9 percent , if they are lucky ...
... start with . Incidentally , I think when you are talking about variable mortgage rates , that is a sad commentary . Can you imagine a young couple entering into a 20 - year obligation for a mortgage at 9 percent , if they are lucky ...
Page 59
... shows up differently , we will stay here the length of time it is necessary to hear all of you . But first we will start off with Mr. Goldfinger of the AFL - CIO . If we could persuade you gentlemen to reduce your part 59.
... shows up differently , we will stay here the length of time it is necessary to hear all of you . But first we will start off with Mr. Goldfinger of the AFL - CIO . If we could persuade you gentlemen to reduce your part 59.
Page 60
... starts , which declined 13 percent in 1973 , dropped another 30 per- cent in the first 5 months of 1974. The drop in issuance of building permits , com- bined with the large inventory of unsold homes and the present money market ...
... starts , which declined 13 percent in 1973 , dropped another 30 per- cent in the first 5 months of 1974. The drop in issuance of building permits , com- bined with the large inventory of unsold homes and the present money market ...
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Common terms and phrases
American Bankers Association assets authority bank holding companies Banking and Currency banks and thrift BARRETT believe billion BOMAR ceilings certificates Chairman Chase Manhattan Corp Citicorp and Chase Citicorp issue Citicorp note commercial banks commercial paper committee CONGRESS THE LIBRARY Corporation debt depositors deposits disintermediation economic Federal Home Loan Federal Reserve Board Federal Reserve System FRENZEL funds going GOLDFINGER Governor Mitchell high interest rates Holding Company Act Home Loan Bank home mortgages housing market inflation insured investment investors issuance issuer July legislation LIBRARY OF CONGRES LIBRARY OF CONGRESS Loan Bank Board money market months MORTHLAND mutual savings banks note issues obligations PATMAN percent period permit problem proposed by Citicorp proposed Citicorp rate control rate of interest redemption regulation Q ROUSSELOT savings and loan SCHMULTS securities small saver ST GERMAIN statement subsidiaries term Thank thrift institutions tion Treasury bill rates units WIDNALL WRIGHT PATMAN
Popular passages
Page 65 - ... it may in its discretion bring an action, in the proper district court of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States, to enjoin such acts or practices, and upon a proper showing a permanent or temporary injunction or restraining order shall be granted without bond.
Page 65 - Whenever it appears to any person authorized by the President to exercise authority under this title that any individual or organization has engaged, is engaged, or is about to engage in any acts or practices...
Page 63 - credit sale" refers to any sale with respect to which credit is extended or arranged by the seller. The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property and services involved and it is agreed that the bailee or lessee will become, or for no other or...
Page 63 - Organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (12) "Payable in instalments...
Page 63 - organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. ( d ) The term "person" means a natural person or an organization. (e) The term "credit...
Page 63 - Definitions and rules of construction (a) The definitions and rules of construction set forth in this section are applicable for the purposes of this title. (b) The term "Board" refers to the Board of Governors of the Federal Reserve System. (c) The term "organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association.
Page 63 - These regulations may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of transactions, as in the judgment of the Board are necessary and proper to effectuate the purposes of this title, and prevent circumvention or evasion thereof, or to facilitate compliance therewith.
Page 65 - General to bring an action in the appropriate district court of the United States to enjoin such acts or practices, and upon a proper showing a temporary restraining order or a preliminary or permanent injunction shall be granted without bond. Any such court may also issue mandatory injunctions commanding any person to comply with any such order or regulation.
Page 65 - For any willful violation of any requirement of this part, the Secretary may assess upon any domestic financial Institution, and upon any partner, director, officer or employee thereof who willfully participates In the violation, a civil penalty not exceeding $1,000.
Page 65 - In the event of the failure of any person to pay a penalty imposed pursuant to subsection (c), a civil action for the recovery thereof, may, in the discretion of the head of the department or agency concerned, be brought in the name of the United States.