FINANCIAL INSTITUTIONS AND THE NATION'S ECONOMY (FINE) DISCUSSION PRINCIPLES COMMITTEE ON BANKING, CURRENCY AND HOUSING HOUSE OF REPRESENTATIVES 94th Congress, First Session NOVEMBER 1975 Printed for the use of the Committee on Banking, Currency and Housing The report has not been officially adopted by the Committee on Banking, Currency and Housing and may not therefore necessarily reflect the views of its members. 62-748 - 76 bk. 1-2 U.S. GOVERNMENT PRINTING OFFICE PREFACE As a means of insuring the widest possible participation, including that of consumer, citizen and financial groups, the following set of Discussion Principles, a result of preliminary discussions with staff and expert consultants, is submitted as a part of the FINE (Financial Institutions and the Nation's Economy) Study process. The broad approach embodied in these Discussion Principles is deemed essential to insure that proposals for the restructuring of our Nation's financial institutions clearly promote efficiency of financial markets through increased competition among financial institutions. Artificial and outmoded constraints which have served to inhibit capital formation required of a flourishing economy must be dealt with comprehensively if the credit needs of this Nation-private individuals, government, and business-are to be met. Hearings will now be held on these principles, leading to the consideration of implementing legislation. The Committee encourages the fullest possible participation, by the submission of suggestions, criticisms, and supplemental proposals. HENRY S. REUSS, Chairman, Committee on Banking, Currency and Housing. FERNAND J. ST GERMAIN, Chairman, Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (III) |