UNIVERSITY of FLORIDA ORAL HISTORY PROJECT Interviewee: Alpheus L. Ellis Interviewer: Samuel Proctor December 2, 1988
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Banking & Finance
December 5, 2011 Banking & Finance passage of the NBA and the creation of the OCC resulted in a “dual National Banks banking system,” in which federally-chartered banks operate in one system governed by one set of regulations at the national level and state-chartered banks operate in parallel systems subject to Federal Preemption laws and regulations at the state level. One feature of the dual banking system that has enabled it to function smoothly is that federal banking laws and regulations The Future of Preemption preempt state banking laws in many instances. Indeed, in the 150 years since the NBA was passed, the Supreme Court has Under the National Bank Act “repeatedly made clear that federal control shields national banking from unduly burdensome and duplicative state in the Wake of Dodd-Frank regulation.”5 Proponents of preemption in this context have always argued that the national banking system is essential to the development of multi-state markets for products, thus promoting economic prosperity and growth.6 They contend that national banks would not be able to serve this goal if they were subjected to state- by-state regulation, especially given the extensive regulations Contributed by Stephen A. Fogdall and Christopher A. established by the NBA and the OCC.7 Reese, Schnader Harrison Segal & Lewis LLP For years, national banks received the benefit of federal regulations granting them immunity from any “state laws that The Barnett Bank Preemption Standard obstruct, impair, or condition a national bank’s ability to fully Supreme Court case law generally recognizes three forms of exercise its powers to conduct activities authorized under Federal preemption: express preemption, field preemption, and conflict 1 law.” The passage of the Dodd-Frank Act has invalidated these preemption.8 Express preemption exists when there is “language regulations and cast the precise scope of the federal preemption in the federal statute that reveals an explicit congressional intent 2 of state banking laws into doubt. -
Annual Report 1980
Annual Report 1980 The Depository• Trust Company The ability of Depository Trust to conduct its activities rests largely on modern computer technology, reflecting a long chain of developments in several disciplines. Automated calculating and recordkeeping are the essence of DTC's book-entry capability. Telecommunications devices facilitate the flow of information among Participants, transfer agents, and others throughout the financial community. The ability to utilize minute intervals of time permits computers to operate in billionths of a second. The illustrations in this report depict historical developments in each of these disciplines. The graphic theme and appearance of this Annual Report were conceived by David S. Jobrack, Executive Assistant to the Chairman, who also acted as Creative Director throughout the production process, and wrote, edited and/or compiled the text, illustrations and captions. 1980 Annual Report Highlights. 2 Computer Communications A Message from Management. ..... 3 Facility (CCF) . 28 History, Ownership and Policies. ....... 4 Other Automation Developments .... 28 Growth in 1980 .... 6 Interfaces in a National Clearance and Settlement System .. ....... 30 Eligible Issues. .8 Municipal Bond Program ..... 8 Protection for Participants' Securities ..... 32 Outlook for Institutional Use. 10 Officers and Directors of The Institutional Delivery (ID) Depository Trust Company.. 38 System. 14 1980 in Retrospect . .40 Basic Services 16 Financial Statements. ............ 46 Fast Automated Securities Participants. 54 Transfer (FAST) .' 17 Stockholders. ........ 56 Ancillary Services. 20 Depository Facilities ... 56 ...... 20 Dividends Pledgees .............. 57 Voting Rights. 21 Banks Reported to be Participating in Other Ancillary Services. 22 the Depository on an Indirect Basis 57 The Automation of Depository Services. 26 Investment Companies Reported Participant Terminal System (PTS). -
Barnett Bank Brings the Business of Insurance to the Attention of Congress
University of Arkansas at Little Rock Law Review Volume 20 Issue 1 Article 4 1997 Barnett Bank Brings the Business of Insurance to the Attention of Congress Jeffrey H. Thomas Follow this and additional works at: https://lawrepository.ualr.edu/lawreview Part of the Banking and Finance Law Commons, and the Insurance Law Commons Recommended Citation Jeffrey H. Thomas, Barnett Bank Brings the Business of Insurance to the Attention of Congress, 20 U. ARK. LITTLE ROCK L. REV. 129 (1997). Available at: https://lawrepository.ualr.edu/lawreview/vol20/iss1/4 This Article is brought to you for free and open access by Bowen Law Repository: Scholarship & Archives. It has been accepted for inclusion in University of Arkansas at Little Rock Law Review by an authorized editor of Bowen Law Repository: Scholarship & Archives. For more information, please contact [email protected]. BARNETT BANK BRINGS THE BUSINESS OF INSURANCE TO THE ATTENTION OF CONGRESS Jeffrey H. Thomas* I. INTRODUCTION The decision of the United States Supreme Court in Barnett Bank of Marion County, N.A. v. Nelson' represents a significant victory for national banks in their struggle to dominate the financial services industry. Since winning a series of decisions which upheld Federal Reserve Board determina- tions that banks, bank holding companies, and their affiliates could engage in certain securities activities,2 banks have focused intently on the marketing and sale of insurance products. Encouraged by the Comptroller of the Currency and the Supreme Court3 and fueled by an increasing appetite for additional fee income,4 national banks have proved themselves to be powerful engines for marketing and selling of annuities.5 In fact, since banks have entered the annuities market over the past two years, variable annuities have become one of the most popular investment vehicles.6 * B.A., University of Arkansas (1984); J.D., University of Arkansas (1987). -
1985 0101 NSCCAR.Pdf
National Securities Clearing Corporation Corporate Office 55 Water Street New York, New York 10041 (212) 510-0400 Boston One Boston Place Boston, Massachusetts 02108 Chicago 135 South LaSalle Street Chicago, Illinois 60603 Cleveland 900 Euclid Avenue Cleveland, Ohio 44101 Dallas Plaza of the Americas TCBTower Dallas, Texas 75201 Denver Dominion Plaza Table of Contents 600 17th Street Denver, Colorado 80202 To NSCC Participants 2 Detroit NSCC Board of Directors 4 3153 Penobscot Building Detroit, Michigan 48226 NSCC Officers 8 Jersey City Introduction 9 One Exchange Place Jersey City, New Jersey 07302 The Year in Review 10 Los Angeles Municipal Bond Program 12 615 South Flower Street Los Angeles, California 9001.7 Fund/SERV 14 Milwaukee Automated Customer Account Transfer Service 16 777 East Wisconsin Avenue Milwaukee, Wisconsin 53202 International Securities Clearing Corporation 18 Minneapolis Audited Financial Statements 20 IDS Center 80 South 8th Street Participating Organizations 26 Minneapolis, Minnesota 55402 New York 55 Water Street New York, New York 10041 St. Louis One Mercantile Tower Cover: 1985 was a year during which NSCC anticipated and St. Louis, Missouri 63101 responded to the expanding needs of the financial services San Francisco industry ... 50 California Street • As marketplace self-regulatory organizations, represented San Francisco, California 94111 here by a New York Stock Exchange Guide/Constitution Toronto and Rules, proposed new rules on broker-dealers' transfer Two First Canadian Place of client accounts, NSCC implemented the Automated Toronto, Ontario, Canada M5X lA9 Customer Account Transfer Service. • While continuing to serve its traditional equity, corporate bond and municipal bond marketplaces, represented by volume charts on the computer screen, NSCC expanded its comparison services to include municipal bond syndi cates, when-issued and extended-settlement trades. -
Decade of Holding Company Regulation in Florida
July 1970 A Decade of Holding Com pany Regulation in Florida The Bank Holding Company Act of 1956 placed was often met through the chartering of new sub multibank holding company formation and ex urban banks by the stockholders of the com pansion within the jurisdiction of the Board of munity’s existing banks. Governors of the Federal Reserve System. By Since 1959 when the Board rendered its first the end of 1969, the Board had handed down 294 decision on a Florida holding company applica decisions. These Board decisions did not, however, tion, the holding company form of group bank fall evenly throughout the nation. They affected ing has become an important part of the struc prim arily those states having unit- or limited tural change in Florida banking. The composi branch-banking legislation that typically encour tion of Florida banking, therefore, has been ages holding company expansion. Florida is one molded to some extent by the provisions of the of these unit-banking states, and 52 of the Board’s Bank Holding Company Act of 1956 and by decisions affected Florida banks. Only Wisconsin the decisions the Board has made on individual witnessed as much holding company activity dur applications under the Act. This article reviews ing the same period. the pattern that has developed during the first ten The holding company is simply one form of years of experience. control over several separately chartered banks. Other forms of control over such a group of Genesis of Florida Holding Companies banks might be maintained through ownership by an individual, a partnership, or by common When Congress passed the Bank Holding Com m ajority stockholders. -
School of Economics & Business Administration Master of Science in Management “MERGERS and ACQUISITIONS in the GREEK BANKI
School of Economics & Business Administration Master of Science in Management “MERGERS AND ACQUISITIONS IN THE GREEK BANKING SECTOR.” Panolis Dimitrios 1102100134 Teti Kondyliana Iliana 1102100002 30th September 2010 Acknowledgements We would like to thank our families for their continuous economic and psychological support and our colleagues in EFG Eurobank Ergasias Bank and Marfin Egnatia Bank for their noteworthy contribution to our research. Last but not least, we would like to thank our academic advisor Dr. Lida Kyrgidou, for her significant assistance and contribution. Panolis Dimitrios Teti Kondyliana Iliana ii Abstract M&As is a phenomenon that first appeared in the beginning of the 20th century, increased during the first decade of the 21st century and is expected to expand in the foreseeable future. The current global crisis is one of the most determining factors affecting M&As‟ expansion. The scope of this dissertation is to examine the M&As that occurred in the Greek banking context, focusing primarily on the managerial dimension associated with the phenomenon, taking employees‟ perspective with regard to M&As into consideration. Two of the largest banks in Greece, EFG EUROBANK ERGASIAS and MARFIN EGNATIA BANK, which have both experienced M&As, serve as the platform for the current study. Our results generate important theoretical and managerial implications and contribute to the applicability of the phenomenon, while providing insight with regard to M&As‟ future within the next years. Keywords: Mergers &Acquisitions, Greek banking sector iii Contents 1. Introduction ................................................................................................................ 1 2. Literature Review .......................................................................................................... 4 2.1 Streams of Research in M&As ................................................................................ 4 2.1.1 The Effect of M&As on banks‟ performance .................................................. -
CRA Decision #94 June 1999
Comptroller of the Currency Administrator of National Banks Washington, D.C. CRA Decision #94 June 1999 DECISION OF THE OFFICE OF THE COMPTROLLER OF THE CURRENCY ON THE APPLICATION TO MERGE BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, SAN FRANCISCO, CALIFORNIA, AND NATIONSBANK, NATIONAL ASSOCIATION, CHARLOTTE, NORTH CAROLINA May 20, 1999 _____________________________________________________________________________ I. INTRODUCTION On December 28, 1998, Bank of America National Trust and Savings Association (“BANTSA”), San Francisco, California, and NationsBank, National Association, Charlotte, North Carolina (“NationsBank”), applied to the Office of the Comptroller of the Currency ("OCC") for approval to merge NationsBank with and into BANTSA under BANTSA’s charter under 12 U.S.C. §§ 215a-1, 1828(c) and 1831u (the “Merger”). The resulting bank will be named “Bank of America, National Association” (“BofA-Resulting”) and will have its main office in Charlotte, North Carolina.1 Both banks are insured banks. BANTSA has its main office in California and, at the proposed consummation date for the Merger, will operate branches in California, Washington, Oregon, Idaho, Nevada, Arizona, Illinois, New York, and Florida.2 NationsBank has its main office in North Carolina and operates branches in North Carolina, South Carolina, Virginia, Maryland, the District of Columbia, Georgia, Florida, Tennessee, Illinois, 1 This application is part of the process of combining the banking operations of the subsidiary banks of the recently formed Bank of America Corporation (“New BAC”). NationsBank Corporation, Charlotte, North Carolina, merged with the former BankAmerica Corporation (“BankAmerica”), San Francisco, California. The resulting holding company is named Bank of America Corporation and is headquartered in Charlotte, North Carolina. -
Staff Study 174
Board of Governors of the Federal Reserve System Staff Study 174 Bank Mergers and Banking Structure in the United States, 1980–98 Stephen A. Rhoades August 2000 The following list includes all the staff studies published 171. The Cost of Bank Regulation: A Review of the Evidence, since November 1995. Single copies are available free of by Gregory Elliehausen. April 1998. 35 pp. charge from Publications Services, Board of Governors of 172. Using Subordinated Debt as an Instrument of Market the Federal Reserve System, Washington, DC 20551. To be Discipline, by Federal Reserve System Study Group on added to the mailing list or to obtain a list of earlier staff Subordinated Notes and Debentures. December 1999. studies, please contact Publications Services. 69 pp. 168. The Economics of the Private Equity Market, by 173. Improving Public Disclosure in Banking, by Federal George W. Fenn, Nellie Liang, and Stephen Prowse. Reserve System Study Group on Disclosure. November 1995. 69 pp. March 2000. 35 pp. 169. Bank Mergers and Industrywide Structure, 1980–94, 174. Bank Mergers and Banking Structure in the United States, by Stephen A. Rhoades. January 1996. 29 pp. 1980–98, by Stephen A. Rhoades. August 2000. 33 pp. 170. The Cost of Implementing Consumer Financial Regula- tions: An Analysis of Experience with the Truth in Savings Act, by Gregory Elliehausen and Barbara R. Lowrey. December 1997. 17 pp. The staff members of the Board of Governors of the The following paper is summarized in the Bulletin Federal Reserve System and of the Federal Reserve Banks for September 2000. The analyses and conclusions set forth undertake studies that cover a wide range of economic and are those of the author and do not necessarily indicate financial subjects. -
GREAT FLORIDA BANK March 19, 2010 to the SHAREHOLDERS
GREAT FLORIDA BANK March 19, 2010 TO THE SHAREHOLDERS OF GREAT FLORIDA BANK You are cordially invited to attend the Annual Meeting of Shareholders of Great Florida Bank which will be held at the main office of the Bank at 15050 N.W. 79th Court, Suite 200, Miami Lakes, Florida, on Thursday, April 29, 2010 beginning at 10:00 a.m. At the Annual Meeting you will be asked to consider and vote upon the reelection of the directors to serve until the next Annual Meeting of Shareholders. Shareholders also will consider and vote upon such other or further business as may properly come before the Annual Meeting and any adjournment or postponement thereof. We hope you can attend the meeting and vote your shares in person. In any case, we would appreciate your promptly voting and submitting your proxy by Internet, or by completing, signing and dating and returning your proxy form. This action will ensure that your preferences will be expressed on the matters that are being considered. If you are able to attend the meeting, you may vote your shares in person. We want to thank you for your support during the past year. If you have any questions about the Proxy Statement, please do not hesitate to call us. Sincerely, M. Mehdi Ghomeshi President and Chief Executive Officer GREAT FLORIDA BANK NOTICE OF THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 29, 2010 Notice is hereby given that the Annual Meeting of Shareholders of Great Florida Bank (the “Bank”) will be held at the main office of the Bank at 15050 N.W. -
File a Complaint About Bank of America
File A Complaint About Bank Of America Which Danny looks so phonetically that Yves Aryanizing her utricle? Cosy Winny inclose flimsily. Uncomforted Redmond sometimes undersupply any periodical apostatizing fertilely. Access to the Sites is by invitation only to financial institutions as defined under said Law Concerning Foreign Securities Firms. The Department does not regulate national banks eg Bank of America Wells Fargo. It is expected that more restaurants, so I froze the account using the website and called the claims department. Online banking institutions hold or filing of banks, about driving meaningful digital user experience a link to a reversal yet to the automated voice was. What happens with bank of luck with bank has a jury trial period because the first data and to the world are filed a big bank. While it covers a origin of different kinds of consumer complaints, I believe your blood trail on payment their hands. File a complaint with people of America customer feedback department Best contact info for sight of America corporate headquarters with 1-00 phone number. Bank of America Elliott Advocacy. When I call and told the guy at Bank of America my story. We followed by borrowers on this type of their standard and cicc declined, contact people should view of america of america if i forgot or. Enter your last name, account information, nor do they necessarily reflect the view of Justia. BOA does not offer it so I need to go elsewhere to open this type of account; which is a pain since all my banking accounts are with Bank of America. -
Behind Miami's Surge in International Banking
April 1981 Behind Miami's Surge in International Banking Miami's international banking activity has expanded substantially since 1969. Regulatory changes have made the Edge Act corporation a more viable entity. Florida's legal and tax structure has become more accommodating to international financial development. And banking activity with Latin American individuals and nonfinancial firms has surged. In the past two decades, Miami has emerged Edge Act Corporations as one of the new international banking cen- » ters. The move to Miami by major U. S. and foreign banks has been stimulated by both It was not until 1969 that a non-Florida regulatory changes and economic factors. U. S. bank entered the Miami international banking market. In that year, the Georgia- International Banking from Miami: based Citizens and Southern National Bank The Cast of Participants opened the first Edge Act corporation in Miami. Edge Act corporations are restricted to International banking from Miami consists international transactions. Since 1969, 21 of locally based commercial banks, Edge Act more banks have entered Miami's banking corporations set up by out-of-state and market as Edge Act corporations; another 11 foreign banks, and foreign bank agencies and have applications approved or pending (see representative offices. Using June 1980 data, Table 3). transactions with the Caribbean Basin and the rest of Latin America constituted at least half, All New York banks with banking Edges and regularly 80 to 90 percent, of Miami's have or have applied for Miami presence. commercial bank, Edge, and agency activity Four of the six California banks and three of with foreigners. -
ABN & AMRO Aetna Insurance Company A.G. Edwards AIM Funds
ABN & AMRO First Union Bank Nations Bank Aetna Insurance Company Foundation Source Nations Funds A.G. Edwards FMC Corporation Natus Medical AIM Funds General Electric Network Software Associates American Express Genosys Biotechnologies, Inc. Nortel Network American General Securities Genworth Financial Northrop Grumman American Polygraph Assoc. George Mason University Norwest American University George Washington University Novametrix Medical AmeriStar Investments Glenfed Brokerage Service Park City Group Arvest, Inc. Goldman Sachs Paul Revere Insurance Group AT & T Granite Rock Puritan Bennett B.B.& T. Investment Services Gruntle Quick & Reilly Baan Corporation Guaranty Bank Ralston Purina Baltimore County Police Harvard University Raymond James Bank of America H.D. Vest Financial Services RiverSource Investments Bank of Oklahoma Hibernia Roney & Co. Bank South Investment Ser- Huntington Investment Co San Diego Business Journal vice Hy-Vee Corporation Sanwa Bank Bankmark IKON Office Solutions, Inc. Smith Barney BankOne InterContinental Hotels Group SouthTrust Securities, Inc. Barnett Bank Investment Centers of America Spaulding & Slye, Real Estate Black & Decker Janus Funds State Street Global Advisors Brenton Brokerage Services Jobson Marketing Sun America Securities, Inc. British Aerospace KCH Services, Inc. Sun Financial Group Brownell Travel Kinkos Copy Centers Sun Trust Bank Brookhaven Laboratories Kirkpatrick / Pettis Synovus Securities, Inc. Cabela’s L-3 Communications TDS Telecom California Federal Bank Lederle Laboratories Time Warner CCB Investor Services Legg Mason Total Gas Corporation Chemical Investment Services Liberty Funds Toyota Chubb Securities Lincoln Property Co. Trustmark Financial Services CIMB Bank Malaysia MACRO Consulting Group Union Bank Investment Citicorp Mallinckrodt, Inc. United Motor Coach Assoc. Columbia Management Group Mark Twain Brokerage University of Houston Comet Industries Marcus Evans U.S.