Bank Underwriting of Revenue Bi: Hearings Before the Subcommitte on Financial Institutions of ..., 90-1 S.1306 ..., August 28, 29, 30; September 12, 1967

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Página 170 - The limitations and restrictions herein contained as to dealing in, underwriting and purchasing for its own account, investment securities shall not apply to obligations of the United States, or general obligations of any State or of any political subdivision thereof, or obligations issued under authority of the Federal Farm Loan Act, as amended, or issued by the Federal Home Loan Banks or the Home Owners...
Página 57 - Commission is responsible for the administration and enforcement of the Securities Act of 1933, the Securities Exchange Act of 1934, the Public Utility Holding Company Act of 1935, the Trust Indenture Act of 1939, the Investment Company Act of 1940, and the Investment Advisers Act of 1940.
Página 26 - The business of dealing in securities and stock by the association shall be limited to purchasing and selling such securities and stock without recourse, solely upon the order, and for the account of, customers...
Página 26 - ... for its own account, exceed at any time 10 per centum of its capital stock actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund...
Página 42 - As used in this section the term "investment securities" shall mean marketable obligations, evidencing indebtedness of any person, copartnership, association, or corporation in the form of bonds, notes and/or debentures commonly known as investment securities under such further definition of the term "investment securities" as may by regulation be prescribed by the Comptroller of the Currency.
Página 4 - Statutes, as amended, with respect to the authority of national banks to underwrite and deal in securities issued by State and local governments and for other purposes.
Página 26 - ... without recourse, solely upon the order, and for the account of, customers, and in no case for its own account, and the association shall not underwrite any issue of securities or stock: Provided, That the association may purchase for its own account investment securities under such limitations and restrictions as the Comptroller of the Currency may by regulation prescribe...
Página 1 - I would like to insert in the record, at this point, a copy of the bill and the agency reports.
Página 97 - State member banks shall be subject to the same limitations and conditions with respect 'to the purchasing, selling, underwriting, and holding of investment securities and stock as are applicable in the case of national banks...
Página 164 - Limitations and restrictions on purchase and sale of a public security. A bank may deal in. underwrite, purchase and sell for its own account a public security subject only to the exercise of prudent banking judgment. Prudence will require such determinations as are appropriate for the type of transaction involved. For the purpose of underwriting or investment, prudence will also require a consideration of the resources and obligations of the obligor and a determination that the obligor possesses...

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