Text of H.R. 15869.

CONTENTS

Page

4

STATEMENTS

Bomar, Hon. Thomas R., Chairman, Federal Home Loan Bank Board..
Crawford, Morris D., chairman, The Bowery Savings Bank, New York
City, and chairman, committee on Federal legislation of the National
Association of Mutual Savings Banks..

Goldfinger, Nathaniel, director, Department of Research, American

Federation of Labor and Congress of Industrial Organization (AFL-

CIO)..

Mitchell, Hon. George W., Vice Chairman of the Board of Governors of the

Federal Reserve System.

Morthland, Rex J., chairman, The Peoples Bank & Trust Co., Selma, Ala.,
and president, American Bankers Association____

Rogg, Nathaniel H., executive vice president, National Association of
Home Builders; accompanied by Carl A. S. Coan, Jr., legislative coun-
sel..

Schmults, Hon. Edward C., Under Secretary of the Treasury; accompanied

by Edward M. Roob, Special Assistant to the Secretary (Debt Manage-

ment)

Scott, Tom B., Jr., legislative chairman, U.S. League of Savings Associa-

tions...

Sullivan, Jane, vice chairman of the Committee on Legislation of the
National Savings and Loan League..

Wille, Hon. Frank, Chairman, Federal Deposit Insurance Corporation___

ADDITIONAL INFORMATION SUBMITTED FOR THE RECORD
American Bankers Association, statement presented by Rex J. Morthland,
president__

American Federation of Labor and Congress of Industrial Organizations
(AFL-CIO), statement presented by Nathaniel Goldfinger, director,
Department of Research..

Association of Registered Bank Holding Companies, telegram from Donald

L. Rodgers to Hon. William S. Moorhead, opposing H.R. 15869, dated

July 15, 1974.

114

Federal Deposit Insurance Corporation, statement presented by Hon.

Frank Wille, Chairman...

53

Federal Home Loan Bank Board, statement presented by Hon. Thomas R.

Bomar, Chairman

34

Federal Reserve System, statement presented by Hon. George W. Mitchell,
Vice Chairman of the Board of Governors_.

20

Independent Bankers Association of America, letter from Embree K.

Easterly, president, dated July 15, 1974, regarding H.R. 15869 and

others-amendments to the Bank Holding Company Act of 1956-

Mitchell, Hon. George W.:

113

Prepared statement..

20

Response to question of Hon. Ben B. Blackburn __

Morthland, Rex J., response to a question of Hon. Edward I. Koch-

National Association of Home Builders, statement presented by Nathaniel
H. Rogg, executive vice president_ _ _

43

96

79

(III)

National Association of Mutual Savings Banks, statement presented by
Morris D. Crawford, chairman, committee on Federal legislation___..
National Savings and Loan League, statement presented by Jane Sullivan,
vice chairman of the Committee on Legislation_

Patman, Hon. Wright:

Correspondence with various agencies and individuals regarding the

proposed issue of floating interest rate notes by Citicorp, the parent

holding company of the First National City Bank of New York.

Press release dated June 28, 1974, urging President Nixon to utilize
existing credit control powers to reduce the current pressure on
interest rates with an attached excerpt from Public Law 91-151,
"Title II-Authority for Credit Control".

Rogg, Nathaniel H., prepared statement with an attached copy of "Eco-
nomic News Notes," dated July 1974__.

Schmults, Hon. Edward C.:

Response to question of Hon. Lawrence G. Williams
Summary of the Financial Institutions Act of 1973.

Scott, Tom B., Jr., prepared statement..

Sullivan, Jane, response to questions of:

Hon. Bill Frenzel__

Hon. Edward I. Koch

Hon. John H. Rousselot_

Treasury Department, statement presented by Hon. Edward C. Schmults,
Under Secretary of the Treasury..

U.S. League of Savings Associations, statement presented by Tom B. Scott,
Jr., legislative chairman_