Word: frb
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...running into the red at the rate of $5.5 billion a year. Too many houses are being built on too slim security, said he, and the new corporation pension plans, which he flatly called "a big mistake," will keep prices high. He thought that the time had come for FRB to tighten up on credit and thus discourage inflationary borrowing...
...months of this year the demand for cars is still near the top. After a consumer survey, the Federal Reserve Board predicted that there would be peak auto sales at least until the middle of 1950. One reason is that more people can afford autos than prewar. Explained FRB: while the retail price of the three leading lowest-priced cars went up an average of 65% between 1941 and early 1949, U.S. family income increased more than 100% (from $1,500 to $3,100) in the same period. On top of that, said FRB, some 20 million...
What close-cropped, drawling Sam Husbands, 58, did not mention, but what everybody understood, was that the stock sale would take much of the steam out of FRB's drive to prove Transamerica a monopoly. Though Transamerica officials insisted that the stock sale was only "coincidental" to FRB's prosecution, it looked like a shrewd coincidence engineered by Sam Husbands...
...former RFC director and onetime South Carolina banker, Sam Husbands, in the words of his onetime boss Jesse Jones, "knows more about banks than any man in the U.S." He also knows a lot about what goes on in Washington. FRB is backing a bill in Congress which would give the board greater regulatory powers over bank holding companies that control more than 15% of the stock of an operating bank. Once Transamerica's holdings in Bank of America are reduced to 11.1%, it could argue that FRB should not be concerned with Transamerica even though the 11.1% might...
Nevertheless, FRB indicated last week that it wanted more concessions from Transamerica and was not yet ready to drop its case. But Transamerica was hopeful. As one official cautiously put it: "If [the stock sale] results in the board doing anything, we can't imagine it would be adverse to our interests...