Consolidation of National Banking Associations
U.S. Government Printing Office, 1926 - 372 páginas
Considers (68) S. 3316, (68) H.R. 8887.
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additional amended American amount applying approval association authority bank failures Bank of Italy bankers banking system become believe bill branch banking California capital cent centum CHAIRMAN Cleveland committee Comptroller Congress consolidation corporation Currency deposits desire Doctor WILLIS Drum establish examination existing fact failed Federal reserve act Federal reserve bank Federal Reserve Board Federal reserve system figures follows further give given House increase institution interest legislation less limits loans located matter McFadden bill mean member banks membership national banks obligations operation organized passed permit person powers practice present president privilege provisions question reason record referred regard regulations represent result Revised Savings Bank Senator EDGE Senator Glass situation statement Statutes suggested surplus thing tion trust trust companies United
Página 10 - To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this title.
Página 154 - Fifth. To elect or appoint directors, and by its board of directors to appoint a president, vice-president, cashier, and other officers, define their duties, require bonds of them and fix the penalty thereof, dismiss such officers or any of them at pleasure, and appoint others to fill their places.
Página 159 - Any such association may continue hereafter as heretofore to receive time and savings deposits and to pay interest on the same, but the rate of interest which such association may pay upon such time deposits or upon savings or other deposits shall not exceed the maximum rate authorized by law to be paid upon such deposits by State banks or trust companies organized under the laws of the State in which such association is located.
Página 10 - Federal reserve bank shall transact any business except such as is incidental and necessarily preliminary to its organization until it has been authorized by the Comptroller of the Currency to commence business under the provisions of this Act.
Página 2 - The total obligations to any national banking association of any person, copartnership, association, or corporation shall at no time exceed 10 per centum of the amount of the capital stock of such association actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund. The term 'obligations...
Página 10 - Seventh. To exercise by its board of directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this Act and such incidental, powers as shall be necessary to carry on the business of banking within the limitations prescribed by this Act.
Página 49 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Página 157 - ... association is established, or if there is no newspaper in the place, then in the one published nearest thereto in the same county, at the expense of the association; and such proof of publication shall be furnished as may be required by the Comptroller.