The comptroller of the currency has been taking measures that will offer some latitude to national banks that want to offer insurance

Article Abstract:

An interpretive letter issued by the Office of the Comptroller of the Currency (OCC) in mid-1998 and the OCC's victory in American Council of Life Insurance v. Ludwig show the importance of the OCC's flexibility in expanding the powers of national banks. However, HR 10, the proposed financial reform legislation which passed the House of Representatives in 1998 would limit OCC discretion to add further insurance powers to national banks. HR 10 may portend significant problems for national banks in the insurance arena and even question the viability of some OCC past precedent.

Laws, regulations and rules, National banks, United States. Office of the Comptroller of the Currency

---

The SAIF, which insures the deposits of savings and loan institutions that survived the thrift crisis, may be facing its own fiscal emergency

Article Abstract:

The Savings Assn Insurance Fund (SAIF) and the thrift industry in general face serious problems in the next few years. The SAIF is underfunded, with much of the premiums paid by the thrifts going to cover FICO bonds issued in 1987 to fund the thrift crisis. SAIF is supposed to reach 1.25% of the value of the deposits it insures, at which point premiums will fall, but that will not happen for seven years. Meanwhile, thrifts are in a poor competitive position compared to banks, which pay lower premiums for insurance.

Management, Finance, Savings and Loan Associations Bailout Crisis, 1987-, United States. Savings Association Insurance Fund

---

Two recent Federal Reserve Board decisions afford latitude to banks in acquiring technology firms engaged in activities incidental to banking

Article Abstract:

In deciding on Feb 6 to let Royal Bank of Canada buy 20% of MECA Software and on Feb 26 to let Compagnie Financiere de Paribas sell mobile telephone billing software, the Federal Reserve Board increased banking groups' ability to acquire technology firms. The decisions give financial institutions an avenue for participating in the technological revolution expected to sweep their industry over the next several years, and allow them to compete with software makers that have made that sector a priority.

Cases, Financial services industry, Financial services, Bank holding companies

Similar abstracts:

• Abstracts: The content and focus of the codes of ethics of the world's largest transnational corporations. Multinational corporations and the competition for media influence in developing countries
• Abstracts: High court hears case on state power over banks; at issue is whether states can prohibit nationally chartered banks from selling insurance
• Abstracts: Where the 'big boxes' belong; city planning commissions have devised various solutions to the problem of zoning big retailers
• Abstracts: Although employers' restrictions on relationships between employees can give rise to claims, some restraints on office romances may withstand challenge. part 2

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.