Banking Rules

Depositing Public Funds in Local Banks - Massachusetts

smitchell — Mon, 09 May 2011 09:16:03 -0500

In May 2011, Massachusetts Treasurer Steven Grossman launched the Small Business Banking Partnership, a program that will move at least $100 million of the state's cash reserves from large national banks to local community banks with the understanding that these institutions will use the deposits to increase lending to small businesses.

Depositing Public Funds in Local Banks - Multnomah County, Oregon

smitchell — Fri, 19 Nov 2010 11:22:49 -0600

On November 18, 2010, the Multnomah County Board of Commissioners approved a measure that creates a Community Advantage Banking Program, under which the county will invest $10 million of its funds with qualifying local community banks and local credit unions. The investment is expected to expand local lending, particularly to small businesses.

Depositing Public Funds in Local Banks - Maryland

smitchell — Mon, 29 Mar 2010 11:47:16 -0500

This bill would give local banks and credit unions a 10 percent pricing preference on bids to manage both state and municipal bank accounts.

Depositing Public Funds in Local Banks - Minnesota

smitchell — Mon, 29 Mar 2010 11:44:30 -0500

This bill gives local banks and credit unions a 10 percent pricing preference when bidding to manage the state's bank accounts. Currently, the state maintains 264 major accounts, including its general fund account and accounts for various agencies. The total amount of money on deposit in these accounts varies considerably over time, but can be as high as $100 million. Every five years, the state bids out these accounts as a package, awarding their management to a single bank. U.S. Bancorp, the nation's 11th largest bank holding company, won the most recent bid.

Depositing Public Funds in Local Banks - New Mexico

smitchell — Mon, 29 Mar 2010 11:34:07 -0500

The bill would give New Mexico-based banks and credit unions that otherwise meet the state's banking requirements a 10 percent preference in bidding to be the state's fiscal agent, the institution that manages its day-to-day banking business. The bill also requires the New Mexico Treasurer and the State Investment Council to develop an investment policy for funds held in CDs (certificates of deposit) that would increase community bank lending to local residents and businesses.

Market Share Cap — State Deposit Caps

smitchell — Wed, 24 Mar 2010 14:52:47 -0500

In 1994, Congress established state-level deposit caps that
prohibited banks from amassing, through mergers and acquisitions, more
than 30 percent of the deposits in any state. The law gave each state the authority to raise or lower its own cap, or
to abolish it altogether.

Market Share Cap - Federal Rules

admin — Mon, 24 Nov 2008 20:29:27 -0600

In 1994, Congress adopted a policy that bars a bank from buying another bank if the combined entity would hold more than 10 percent of the country's deposits. The law contains several exceptions that large banks have used to exceed the cap in recent years.

Market Share Cap - Nebraska

admin — Mon, 24 Nov 2008 20:27:27 -0600

An interstate merger transaction shall not be permitted if, upon consummation of such transaction, the resulting bank or its bank holding company would have direct or indirect ownership or control of deposits in Nebraska in excess of 22 percent of the total deposits of all banks in Nebraska, plus the total deposits, savings accounts, passbook accounts, and share accounts in savings and loan associations and building and loan associations in Nebraska, as determined by the director on the basis of the most recent calendar-year-end reports, except as provided in subsection (4) or (5) of section 8-910.

Market Share Cap - Missouri

admin — Mon, 24 Nov 2008 20:25:00 -0600

It is unlawful for any bank holding company in Missouri to obtain control of any bank or depository financial institution if the total deposits in such bank or institution together with the total deposits in all banks and depository financial institutions in Missouri controlled by the bank holding company exceed thirteen percent of the total deposits in all depository financial institutions in the state, determined as of December thirty-first of the most recent year for which totals are available.

Tobin Tax - United States

admin — Mon, 24 Nov 2008 20:15:41 -0600

In the U.S., a resolution supporting a Tobin tax was introduced by Congressman Peter DeFazio (D-OR) and Senator Paul Wellstone (D-MN) in April 2000. On a local level, a growing number of "Tobin towns" are passing resolutions in favor of a Tobin tax, including Arcata, California.

Tobin Tax - International Initiatives

admin — Mon, 24 Nov 2008 20:14:02 -0600

Currently underway is an international initiative calling on parliamentarians around the world to enact a Tobin Tax, and a world economists call for a Tobin tax initiated in the summer 2000.

Tobin Tax - Canadian Resolution

admin — Mon, 24 Nov 2008 20:11:41 -0600

In March of 1999, a Canadian resolution calling for a Tobin tax passed in the Canadian Parliament.