Bank – [BonkNote]

Insurance Sales Activities by Banks 1985 0911 – GOV (House) – The South Dakota Loophole, Jim Leach (R-IA) House – Committee on Banking, Financial and Urban Affairs – Subcommittee on Financial Institutions Supervision, Regulation and Insurance Insurance Sales Activities by Banks 1994 0203 – Congressional Record – Volume 140, Number 8 – [link] – congress.gov/bound-congressional-record/1994/02/03/senate-section Insurance…

Thrifts Unitary Thrifts 1999 – SOA – Industry Convergence—Bank Participation, Society of Actuaries – 18p Recent applications by insurers for thrift charters and acquisitions of thrifts. AIG OTC GOV Hearing – Woman – Life insurance companies have always owned thrifts occ.treas.gov/about/who-we-are/history/1914-1935/1914-1935-the-federal-thrift-charter-is-created.html occ.treas.gov/about/who-we-are/history/1914-1935/1914-1935-the-federal-thrift-charter-is-created.html The original national banking laws essentially forbade national banks from making residential mortgage loans. Savings…

Nonbank Banks 1985 0417 and 0418 – GOV (House) – Nonbank Banks House – Committee on Banking, Finance, and Urban Affairs Subcommittee on Financial Institutions Supervision, Regulation, and Insurance, 85-23927 1985 0215 – FRB-P – Nonbank Banks: Catalyst for Interstate Banking, 84-1403 – 17p 1986 03 – GAO – Financial Services: Information on Nonbank Banks, Government Accountability…

Universal Banks Universal banks would fall in between, given their split of business between commercial and investment banking. (p14) 2011 12 – IMF – Estimating the Costs of Financial Regulation, IMF Staff Discussion Note – 41p 1994 – Book – Universal Banking in the United States: What Could We Gain? What Could We Lose?, by…

BCCI – Bank of Credit and Commerce International BCCI founder Aga Hassan Abedi Robert Altman Clark Clifford The Clintons Lippo Riady Stephens Union Life Insurance Company 1981 0707 – NYT – Hunt Oil Unit To Buy Union Life – [link] Rose Law Arthur J. Morris, Credit Life George H. Olmsted 1992 – Senate – Report -…

Banks and Life Insurance – Similar Products / Activities Cash value life insurance can operate as an investment vehicle that combines life insurance protection with a financial instrument that operates similarly to bank certificates of deposit and mutual fund investments. 2010 – Senate / CRS – Tax Expenditures: Compendium of Background Material on Individual Provisions…

American Banker 2014 – Mercatus / American Banker – AIG’s Collapse: The Part Nobody Likes to Talk About, Hester Peirce – [link] p119-120, 2017 1024 – GOV (House) – The Federal Government’s Role in the Insurance Industry, Sean Duffy (R-WI) — [BonkNote] 1996 0102 – American Banker – A life insurance time bomb in trust – and how to defuse…

Bank Failures 2023 04 – SOA – What Can Insurers and Pension Funds Learn from Bank Failures – Expert Panel Discussion, Society of Actuaries – 11p 2023 Silicon Valley Bank New York’s Signature Bank

Securities Lending – Banks Wells Fargo also manages 14 different securities lending pools. These are arrangements whereby we will lend client securities out to different broker dealers. In exchange, we receive collateral, often in the form of cash, and that cash is then invested. It’s an ALM business, and the idea is for us to…

AIG – BankLike-? Geithner / Warren – Warren – AIG was not a bank. Volcker – 1987-? FRB-1992-GICS-paper Pension plans that had placed funds in AIG guaranteed investment contracts, or GICs, which function much like deposits in a bank, would have experienced significant losses, losses that would be passed along to retirees or to others…