Financial Institutions Supervisory Powers: Hearing Before the Committee on Banking, Housing and Urban Affairs, United States Senate, Ninety-fourth Congress, Second Session, on S. 2304 ... March 26, 1976U.S. Government Printing Office, 1976 - 90 páginas |
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Página 18
... individual who directly or indirectly owns , 2 controls , or has the power to vote more than 5 per centum of 3 any class of voting securities of such member bank or to 4 companies controlled by such an officer , director , or indi- 5 ...
... individual who directly or indirectly owns , 2 controls , or has the power to vote more than 5 per centum of 3 any class of voting securities of such member bank or to 4 companies controlled by such an officer , director , or indi- 5 ...
Página 20
... individual intended to take the action , but that in so doing the individual intended to break the law . This is a very difficult matter to prove , and it is believed that these difficulties of proof have decreased the effectiveness of ...
... individual intended to take the action , but that in so doing the individual intended to break the law . This is a very difficult matter to prove , and it is believed that these difficulties of proof have decreased the effectiveness of ...
Página 21
... individual . The Board believes that , if an individual is grossly negligent or inept in the operation of a banking institution , and the findings set forth in ( 1 ) and ( 2 ) above are made , he should be removed regardless of whether ...
... individual . The Board believes that , if an individual is grossly negligent or inept in the operation of a banking institution , and the findings set forth in ( 1 ) and ( 2 ) above are made , he should be removed regardless of whether ...
Página 23
... individuals from bank , to conform to permissible status or charge - off two additional loans , to divest of certain real estate acquired as a debt previously contracted , not to make additional bank stock loans at less than prime , to ...
... individuals from bank , to conform to permissible status or charge - off two additional loans , to divest of certain real estate acquired as a debt previously contracted , not to make additional bank stock loans at less than prime , to ...
Página 25
... individuals from banks or holding company after indictment . 1972 : 1. Bank - total deposits : $ 10 million . 1 Deposit and asset figures are approximate . Subject : The extension of credit to insiders without full 25.
... individuals from banks or holding company after indictment . 1972 : 1. Bank - total deposits : $ 10 million . 1 Deposit and asset figures are approximate . Subject : The extension of credit to insiders without full 25.
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Términos y frases comunes
action with respect adversely classified assets affiliates aggregation Agreement to eliminate amended American Bankers Association bank holding company Bank ordered Bank was found bank's BARNETT bill board of directors capital cease and desist CHAIRMAN civil penalty committee Comptroller condition and ordered continued insured status Corporation Deposit Insurance Act desist from unsafe Desist order entered effective extensions of credit FDIC Federal Deposit Insurance Federal Reserve Act Federal Reserve Board Federal Reserve System Holding company-total assets HOLLAND including 12 United individual insider loans insider transactions Insured Status issued loan policies loan portfolio loans or extensions member bank Notice of Charges Notice of Intention Order terminated ordered to cease personal dishonesty practices and take reduce adversely classified regulation section 23A self-dealing shareholders substantial compliance take affirmative action Terminate Insured Status United States Code unsafe and unsound unsound banking practices unsound condition unsound practices VIOLATIONS MANAGEMENT violations of law XX XX
Pasajes populares
Página 39 - control' (including the terms 'controlling,' 'controlled by' and 'under common control with') means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise.
Página 38 - Information pertaining to such insider transactions shall be readily accessible to examiners and shall include all documents and other material relied upon by the board in approving each transaction, including the name of the insider, the insider's position or relationship that causes such person to be considered an insider, the date on which the transaction was approved by the board, the type of insider transaction and the relevant terms of the transaction, any other pertinent facts which serve...
Página 30 - ... shall forfeit and pay a civil penalty of not more than $1,000 per day for each day during which such violation continues.
Página 25 - Please let us know if we can be of further assistance. Sincerely, GRAHAM W.
Página 40 - The minutes of the meeting at which approval is given shall indicate the nature of the transaction or transactions, the parties to the transaction or transactions, that such review was undertaken and approval given, and the names of individual directors or trustees who voted to approve or disapprove the transaction or transactions. In the case of negative votes, a brief statement of each dissenting director's or trustee's reason for voting to disapprove the proposed insider transaction or transactions...
Página 39 - Such supervisory action may involve institution of formal proceedings under section 8 of the Federal Deposit Insurance Act. Among the factors which the Corporation will consider in determining the presence of unsafe or unsound banking practices involving insider transactions are: (1) Whether, because of preferential terms and conditions, such insider transactions are likely to result in significant loan losses, excessive costs, or other significant economic detriment which would not occur in a comparable...
Página 32 - ... an order to cease and desist from any such violation or practice. Such order may, by provisions which may be mandatory or otherwise, require the institution or its directors, officers, employees, agents, and other persons participating in the conduct of the affairs...
Página 41 - ... the bank shall promptly report such transaction in writing to the Regional Director of the Corporation in charge of the Region in which the bank is headquartered. (F) KNOWLEDGE OF PROPOSED INSIDER TRANSACTION Any insider, having knowledge of an...
Página 39 - of a person, whether through the ownership of voting securities, by contract, or otherwise. (4) Insider. The term "insider" means any officer or employee who participates or has authority to participate in major policy-making functions of a bank, any director or trustee of a bank, or any other person who has direct or indirect control over the voting rights of ten percent of the shares of any class of voting stock of a bank or otherwise controls the management or policies of a bank. (5) Person related...
Página 40 - ... series of related business transactions between a bank and: (i) An insider of the bank; (ii) A person related to an insider of the bank; (iii) Any other person where the transaction is made in contemplation of such person becoming an insider of the bank; or (iv) Any other person where the transaction inures to the tangible economic benefit of an insider or a person related to an insider. (7) Business transaction. The term "business transaction...