To Provide for the Regulation of the Issurance and Sale of Debt Obligations by Bank Holding Companies and Their Subidiaries: Hearing Before ... , 93-2 on H.R. 15869 ... , July 15, 1974
1974 - 114 pages
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accounts action additional agencies already amount assets Association authority bank holding companies believe bill billion Board BOMAR borrowing BROWN ceilings certainly Chairman changes Citicorp City commercial banks committee concern Congress consider continue Corp Corporation cost debt deposits economy effect fact families Federal Reserve Federal Reserve Board financial institutions funds give going GOLDFINGER Government hearings Home Home Loan Bank housing increase industry inflation insured interest interest rates investment investors issuance issue July kind legislation limited MITCHELL months morning mortgage notes obligations offering opportunity percent period permit possible present problem proposed question record redemption reduce regulation representing ROUSSELOT savings and loans savings banks SCHMULTS securities situation starts statement talking term Thank thing thrift institutions tion Treasury bill units
Page 65 - States ; and he may require any su.ch person engaged in any such transaction to furnish, under oath, complete information relative thereto, including the production of any books of account, contracts, letters or other papers, in connection therewith in the custody or control of such person, either before or after such transaction is completed.
Page 64 - 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 64 - Organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (12) "Payable in instalments...
Page 64 - 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 64 - 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 65 - ... minimum original cash payments, temporary credits which are merely incidental to cash purchases, payment or deposits usable to liquidate credits, and other adjustments or special situations. (10) prescribe maximum ratios, applicable to any class of either creditors or borrowers or both, of...
Page 64 - 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 - Whenever the President determines that such action is necessary or appropriate for the purpose of preventing or controlling inflation generated by the extension of credit in an excessive volume, the President may authorize the Board to regulate and control any or all extensions of credit.
Page 65 - ... established; and, without limiting the generality of the foregoing, such regulations may require transactions or persons or classes thereof to be registered or licensed; may prescribe appropriate limitations, terms, and conditions for such registrations or licenses; may provide for suspension of any such registration or license for violation of any provision thereof or of any regulation, rule, or order prescribed...
Page 64 - State" refers to any State, the Commonwealth of Puerto Rico, the District of Columbia, and any territory or possession of the United States. (1) Any reference to any requirement imposed under this title of any provision thereof includes reference to the regulations of the Board under this title or the provision thereof in question. Sec. 203. Regulations The Board shall prescribe regulations to carry out the purposes of this...