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Roe v Wade has been overturned by the US Supreme Court..... It has been a long-time coming.   As  a woman ,mother, and an American, I am thankful for the ruling. jt

http://thespiritwithinpoetry.com/baby_justice.htm

ONE WHO PUTS NO VALUE ON ANOTHER'S LIFE- WILL USE EVERY OPPORTUNITY TO ROB OTHERS OF THEIR MONEY. 

JPMorgan Chase tells employees the bank will pay for travel to states that allow abortion
PUBLISHED FRI, JUN 24 202210:33 AM EDTUPDATED 1 MIN AGO
Hugh Son

JPMorgan Chase told workers that it will pay for travel to states that allow legal abortions, according to a memo first obtained by CNBC.
In a question-and-answer web page linked to the June 1 memo, the bank directly addressed whether it was covering abortion, as well as out-of-state travel to have the procedure.
"Our health care plans have historically covered travel benefits for certain covered services that would require travel," JPMorgan said. "Beginning in July, we will expand this benefit to include all covered services that can only be obtained far from your home, which would include legal abortion."

JPMorgan Chase, one of the largest employers in the U.S. financial industry, told workers that it will pay for travel to states that allow legal abortions, according to a memo first obtained by CNBC.

The news came as part of an internal communication to employees explaining expanded medical benefits set to begin in July, according to the June 1 memo.

"Effective in July, you will be able to access additional covered benefits under the U.S. Medical Plan," the New York-based bank told workers. Those changes include "family-building benefits, such as cryopreservation," and enhanced benefits for LGBT+ workers, the bank said.

"We will also expand our existing health care travel benefit, which today covers certain services such as organ transplants, to all covered health care services that can only be obtained far from your home," JPMorgan told its staff.

JPMorgan's announcement comes as the Supreme Court overturned Roe v. Wade, the landmark ruling that established the constitutional right to abortion in the U.S. in 1973. The expected result of that is that employees in states where the procedure is banned will have to travel to locales where it is still allowed. Before today, only rival bank Citigroup was known to have provided the travel benefit for employees.

In a question-and-answer web page linked to the June 1 memo, the bank directly addressed whether it was covering abortion, as well as out-of-state travel to have the procedure.

"Will you pay for an employee to travel to another state to seek an abortion if their state won't allow them to get one?" the bank said.

"Yes. Our health care plans have historically covered travel benefits for certain covered services that would require travel," JPMorgan said. "Beginning in July, we will expand this benefit to include all covered services that can only be obtained far from your home, which would include legal abortion."

Abortions have long been covered by the company's health plan, the bank added.

 

https://www.cnbc.com/2022/06/24/jpmorgan-tells-employees-the-bank-will-pay-for-travel-to-states-that-allow-abortion.html

STOP FEEDING THE SNAKES!

True or false? When money talks -bs-buddiy systems walk.  I  still believe that the good in the majority of men will out the bad that thrives on power and greed. jt  May 23, 2022

NOTE: Don't feed the snakes in banking.  Then you will see who really wants 'war'....The United States has NO BUSINESS playing world policeman..... Let other countries fight their own wars.... Those who won't fight for their freedom don't deserve  freedom. Enough American blood has been shed fighting other peoples battles... Ask yourself why certain countries are pushing the hardest for a war with Russia..What happened! Where's all the worldwide Covid headlines!?

The banks are losing money-The stock market is losing monING THE SNAKES!ey. First Covid was blamed. Now, Russia is blamed. What/who will be blamed next. -Jan Tetstone

NOTE:from  Jan Tetstone:   Most informed people are aware that big banks  and the stock market  have been going down hill for over a month. Bank branches are closing throughout the United States. -If history holds true it is time for world manipulators  to start causing conflict that in the past has lead to war.:

History tells us periods of uncertainty like we're seeing now are usually when stocks suffer the most. In 2015, researchers at the Swiss Finance Institute looked at U.S. military conflicts after World War II and found that in cases when there is a pre-war phase, an increase in the war likelihood tends to decrease stock prices, but the ultimate outbreak of a war increases them. However, in cases when a war starts as a surprise, the outbreak of a war decreases stock prices. They called this phenomenon "the war puzzle" and said there is no clear explanation why stocks increase significantly once war breaks out after a prelude.4 https://www.investopedia.com/solving-the-war-puzzle-4780889

I think everyone in the stock market and banking business knows the answer to "the war puzzle."

A report from Self Financial, a fintech firm, had a particularly dire forecast for U.S. bank branches last year – predicting they may become extinct by 2034. Based on trends (including the fact that the rate of bank closures has been doubling every three years) Self said the number of bank branches could fall to 40,000 by 2027 and then plunge to as low as 16,000 by 2030, the same level as in 1965. By 2034, Self warned, all branches may be gone.  https://www.forbes.com/sites/palashghosh/2021/04/23/3-major-banks-plan-more-branch-closings-as-thousands-shutter-in-us-and-uk-amid-covid-digital-growth/?sh=223414555bc6

In 1965, I was sixteen years old. Old enough to remember, that the American people lived happier lives. 1965 economy was far better than the economy has been in the last 40+ years. Though the article tell us "bank closures are doubling every three years" the truth is JP Morgan  Chase & company is opening branch offices throughout the US at a faster rate than ever.

Words to the wise:  " Don't feed  the snakes in banking and they will end up eating each other."

.You want to stop human beings from drug addiction? Do  you want to stop  people worldwide from dying from illegal drugs? This is just in the United States:

Drug Overdose Deaths in the U.S. Top 100,000 Annually
For Immediate Release: November 17, 2021

Contact: CDC, National Center for Health Statistics, Office of Communication (301) 458-4800
E-mail: paoquery@cdc.gov

Provisional data from CDC’s National Center for Health Statistics indicate that there were an estimated 100,306 drug overdose deaths in the United States during 12-month period ending in April 2021, an increase of 28.5% from the 78,056 deaths during the same period the year before.

The new data documents that estimated overdose deaths from opioids increased to 75,673 in the 12-month period ending in April 2021, up from 56,064 the year before. Overdose deaths from synthetic opioids (primarily fentanyl) and psychostimulants such as methamphetamine also increased in the 12-month period ending in April 2021. Cocaine deaths also increased, as did deaths from natural and semi-synthetic opioids (such as prescription pain medication).

The provisional data presented in this visualization include: the reported and predicted (estimated) provisional counts of deaths due to drug overdose occurring nationally and in each jurisdiction; a U.S. map of the percentage changes in provisional drug overdose deaths for the current 12-month ending period compared with the 12-month period ending in the same month of the previous year, by jurisdiction; and the reported and predicted provisional counts of drug overdose deaths involving specific drugs or drug classes occurring nationally and in selected jurisdictions.

The reported and predicted provisional counts represent the numbers of deaths due to drug overdose occurring in the 12-month periods ending in the month indicated. These counts include all seasons of the year and are insensitive to variations by seasonality. Deaths are reported by the jurisdiction in which the death occurred.

The interactive web dashboard is available at: https://www.cdc.gov/nchs/nvss/vsrr/drug-overdose-data.htm.

 Page last reviewed: November 17, 2021    
Content source: CDC/National Center for Health Statis  https://www.cdc.gov/nchs/pressroom/nchs_press_releases/2021/20211117.htm

History plainly shows which countries ,and banks, are responsible  for opium and illegal drugs getting a foot-hold in countries worldwide.

Please, people, stop feeding the snakes in banking.  -Jan Tetstone

 

 

Uploaded to YouTube on Dec 6, 2009

Mark Pittman Remembered

Bloomberg News reporter Mark Pittman predicted the subprime mortgage crisis, timed the stock market decline of 2008-09 and took on the Federal Reserve. He died Nov. 25, 2009, at the age of 52.  https://www.youtube.com/watch?v=GZkLXCZRBKY&t=383s

 Fed Refuses to Disclose Recipients of $2 Trillion (Correct)

Oct. 25 (Bloomberg) -- The late Bloomberg News reporter Mark Pittman asked the U.S. Treasury in January 2009 to identify $301 billion of securities owned by Citigroup Inc. that the government had agreed to guarantee. He made the request under the federal Freedom of Information Act on the grounds that taxpayers ought to know how their money was being used. (JTNote: The information he requested was never sent to him.)

The basic function of the Freedom of Information Act is to ensure informed citizens, vital to the functioning of a democratic society.
This site can help you determine if filing a FOIA request is the best option for you and help you create your request when you?re ready. https://www.foia.gov/


    

" The American Beauty Rose can be produced in its splendor and fragrance only by sacrificing the early buds which grow up around it."  J. D. Rockefeller, Jr., In an address on trusts, to students of Brown University.

---------------------------------

 

The Oldest Surviving Banks Of The World
Rank Bank Country Year of Establishment
1 Banca Monte dei Paschi di Siena Italy 1472
2 Berenberg Bank Germany 1590

3 Sveriges Riksbank Sweden 1668
4 C. Hoare & Co. England 1672
5 Metzler Bank Germany 1674
6 Barclays England 1690
7 Coutts England 1692
8 Bank of England England 1694
9 Bank of Scotland Scotland 1695
10 Caja Madrid (now Bankia) Spain 1702

https://www.worldatlas.com/articles/the-oldest-operational-banks-in-the-world.html

 

1567

Barclays Group Archives are home to the records of Barclays PLC and its predecessors, dating from 1567 to the present day https://home.barclays/who-we-are/our-history/

1599

The oldest written records for a Masonic lodge that is still in existence today are from The Lodge of Edinburgh (Mary's Chapel), No 1, Uk. They date back to 31 July 1599.  https://www.guinnessworldrecords.com/world-records/oldest-masonic-lodges

1636

Harvard College/University  was founded September 8, 1636, Cambridge, Massachusetts. Named for Rev. John Harvard. It is the oldest university in the United States.

Eight US Presidents attended Harvard :

John Adams, John Quincy Adams, Rutherford B. Hayes, Franklin Delano Roosevelt, Theodore Roosevelt, John F. Kennedy, George W. Bush, Barack Obama (While President Joe Biden didn't attend Harvard he was US Vice President under Barack Obama 2009-2017.) Bill Gates and James "Jamie" Dimon, among other 'overly wealthy' individuals are products of the  Puritan founded College.  

Alumni Spotlight is pleased to announce The Top 100 Harvard Business School Alumni in Finance & Investing. Founded in 1908, Harvard Business School (HBS) is one of the oldest and most prestigious business schools in the world.

There are more than 100,000 graduates of HBS, many of whom have gone on to lead some of the most prominent financial and investment firms including Goldman Sachs, JP Morgan, Bloomberg, Bridgewater Associates, Blackstone, Citi, and others. Harvard Bankers  Alumni In Finance & Investing   Posted On : January 14, 2021 Published By : Alumni Spotlight

The Harvard branch of the Ku Klux Klan was founded in 1921, according to university archives, consistent with when Klan membership reached its peak in the 1920s. Though the KKK was founded after the Civil War and had its stronghold in the Deep South, its second incarnation in the 20th century was spread throughout the whole of the United States, including enclaves such as Cambridge, Mass. https://www.washingtonpost.com/history/2021/03/30/harvard-klan-photo/ 

Note:  No one pushes the issues of racism harder than JPmorgan's James "Jamie" Dimon....is it because he really cares,or is it a part of a bigger  effort to keep the American people divided?   jt

NOTE:     Harvard University was the first institution of higher learning in colonial America. Founded in 1636 as a training ground for aspiring ministers, it capitalized on this early start and became during the nineteenth century the nation’s most influential university, and by the middle of the twentieth century, arguably the world’s. Not surprisingly, then, Harvard’s four centuries’ long career is tightly connected to the history of New England, the United States and the Atlantic World on whose most dynamic eastern edge it was perched. Notwithstanding a deafening silence on the topic in most remembrances of this great university, Harvard’s history entails a whole range of connections to slavery. This site is a result of investigations Harvard students made into this forgotten part of the University’s history. https://www.harvardandslavery.com/

 George F. Baker (1840–1931), $5 million gift funded construction of Harvard Business School.  He began his banking career as a teller, advancing to president in just fourteen years. Under his conservative leadership, the First National Bank (now Citibank) prospered. His business acumen extended to serving on the boards of more than forty corporations.   https://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx?num=1003

http://thespiritwithinpoetry.com/george_fisher_baker.html

 

1690

John Freame and Thomas Gould start trading as goldsmith bankers     http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html      https://www.hsgac.senate.gov/imo/media/doc/REPORT-Abuse%20of%20Structured%20Financial%20Products%20(Basket%20Options)%20(7-22-14,%20updated%209-30-14).pdf

Barclays business can be traced back to two Quakers called John Freame and Thomas Gould, who established themselves as goldsmith bankers in Lombard Street in the City of London in 1690. Their business flourished, helped in no small part by its Quaker connections. They financed Quaker traders in the new colonies in America and the Caribbean, they helped to finance the Pennsylvania Land Company, and they were actively involved in Quaker-dominated companies like the London Lead Company and the Welsh Copper Company. https://home.barclays/who-we-are/our-history/ 

1691

The New York State Supreme Court was established in 1691, making it one of the oldest continuing courts of general jurisdiction in the United States. Pursuant to legislation adopted by the New York Assembly, the court, originally known as the Supreme Court of Judicature, was given jurisdiction over criminal and civil pleas.

1694

1694  Bank of England Established   http://www.thrivemovement.com/banking-history-timeline-follow-money

Our History -The Bank of England was founded as a private bank in 1694 to act as banker to the Government. Today we are the UK's central bank. This timeline looks at some of the highlights from our long history. https://www.bankofengland.co.uk/about/history

1695

 Freame and Gould sold silver to the Royal Mint. They were also the closest thing the Quakers had to an official banker, holding the Society Of Friends' central funds (known as the national stock). In 1695, this amounted to 1,100. https://home.barclays/who-we-are/our-history/

1723

 James was the son of David Barclay by his first wife, Ann. Following the death of Ann, David Barclay married Freame's elder daughter Priscilla in 1723. This rather complicated state of affairs meant that James Barclay's stepmother was also his sister-in-law, but is quite typical of the way the Quakers ran their lives and businesses. Family, religious and business ties were inextricably linked. https://home.barclays/who-we-are/our-history/
Note: David Barclay Senior did not become a partner in the bank, his sons by his second wife (and, therefore, John Freame's grandsons), David Barclay the younger and John Barclay did.

1728

In 1728, Freame's son, Joseph, became a partner in the bank, and John Freame began a gradual process of retirement.

1730

Colonial banks were established in America

1733

NEW In 1733, the first American lodge was established in Boston, under the authority of the Grand Lodge of England. The United States now has grand lodges in all 50 states and the District of Columbia.  http://www.norfolkmasonictemple.com/history-of-freemasonry-in-virginia.html

 

James Barclay joined the firm in 1733, having married Freame's daughter, Sarah.

1736

James Barclay becomes partner in the bank     http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

 1740

The Land Bank of Massachusetts was established to supply paper money, because the British government in 1737 ordered that the colony of Massachusetts issue no more paper money. This bank issued bank notes upon the security of land or of commodities--- banknotes that could be redeemed after twenty years,  and that might be paid in commodities.  It had no capital stock, but proposed to issue paper notes to the amount of 150,000 pounds (more than $500,000) to be secured by land. The Land Bank was finally suppressed by the British government.

1744

1744- Mayer Amschel Rothschild, Founder of the Rothschild Banking Empire, is Born in Frankfurt, Germany

Mayer Amschel Rothschild extended his banking empire across Europe by carefully placing his five sons in key positions. They set up banks in Frankfurt, Vienna, London, Naples, and Paris. By the mid 1800?s they dominated the banking industry, lending to governments around the world and people such as the Vanderbilts, Carnegies, and Cecil Rhodes.
http://www.thrivemovement.com/banking-history-timeline-follow-money

1757

1757- Colonial Scrip Issued in US

Debt free, fiat currency was printed in the public interest. As Benjamin Franklin said,

In the colonies we issue our own money. It is called colonial scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power and we have no interest to pay no one.
http://www.thrivemovement.com/banking-history-timeline-follow-money

 

1760

Frederick II was Landgrave of Hesse-Kassel from 1760 to 1785. He ruled as an enlightened despot, and raised money by renting soldiers to Great Britain to help fight the American Revolutionary War.

1764

Founded in 1764, Brown is a leading research university home to world-renowned faculty, and also an innovative educational institution where the curiosity, creativity and intellectual joy of students drives academic excellence.
https://www.brown.edu/about

1774

The first Continental Congress met in Carpenter's Hall in Philadelphia, from September 5, to October 26, 1774.

1775

The Continental Congress began on June 22, 1775, to issue Continental paper money.The money gradually depreciated in value because there was no stable government back of it and the people lacked confidence in its redemption. [US Financial History as documented in my 1921 book].

Treasury    The whole banking system is a lie...... And every country on this planet bought into that lie. NEW

1776

Congress adopts Declaration of Independence, July 4: The birth-certificate of the United States of America

David Barclay the younger, who became a partner in the bank in 1776, was a very active Quaker. https://home.barclays/who-we-are/our-history/
 

1780

Bank of Pennsylvania was chartered. In July, the Bank of Pennsylvania was established for the purpose of raising funds to carry on the war

In 1780 Pennsylvania passes an act setting all slaves free at 28 years of age.    [US Financial History as documented in my 1921 book].           .

1781

Chartering of the Bank of North America The Continental Congress, following the suggestion of Robert Morris, the financier of the American Revolution, created the Bank of North America.

The Continentalist No. IV, [30 August 1781]

In May, 1781, Robert Morris, of Pennsylvania, submitted a plan for the  National Bank of North America, capital$400,000

1782

The colonies have no banking system and no common currency. European banks and governments are meeting capital needs. While foreign coins and some colonial paper money is in circulation, bartering is a common means of payment.
1782      https://www.fdic.gov/about/history/timeline/1700s.html
 

1784

Bank of Boston Corporation, former American bank holding company that was acquired by Fleet Financial Group in 1999. The bank, one of the oldest in the United States, was originally chartered in 1784 as the Massachusetts Bank.
https://www.britannica.com/topic/Bank-of-Boston-Corporation

Bank of New York starts without charter

1784- Financing New York
After the Revolutionary War, New York City was in a state of disrepair. But the city was determined to bounce back. Just months after British forces left U.S. soil, local merchants and lawyers came together to create a bank that would forever play a crucial role in the global financial system. 
https://www.bnymellon.com/us/en/timeline.jsp

1784- $500,000
The Bank of New York opens for business with $500,000 in capital. Alexander Hamilton, financial leader and respected New York lawyer, single handedly writes its constitution and becomes one of the bank's directors.
https://www.bnymellon.com/us/en/timeline.jsp
NOTE:  In an effort to rejuvenate the economy after the war, Hamilton was very vocal about the need for a bank. While some called for "land banks"so called because capital was measured by land he was a champion for the case of liquid assets that could be converted into cash as needed, which would make international markets more accessible.  https://www.bnymellon.com/us/en/timeline.jsp

The Bank of North America   
The Bank of North America, established by the Continental Congress, becomes the first chartered bank in the U.S.
1784    https://www.fdic.gov/about/history/timeline/1700s.html

1787

1787- Alexander McDougall is appointed first president of The Bank of New York.  https://www.bnymellon.com/us/en/timeline.jsp

NOTE: In 1787, the Fugio becomes the first coin authorized by Congress, though it is never circulated due to its light weight. Meaning "I Fly" in Latin, the coin prominently features the phrase "Mind Your Business."  https://www.bnymellon.com/us/en/timeline.jsp

1789

1789- First in Finance
Already colonel, scholar, lawyer and writer, Alexander Hamilton adds first U.S. Secretary of the Treasury to his list of achievements.  
https://www.bnymellon.com/us/en/timeline.jsp

NOTE:    The Bank of New York provides the first loan ever made to the U.S. government, in the amount of $200,000. A solid reputation with world governments and a superior credit rating?is what still makes the Bank the safest bank in the U.S. today.  https://www.bnymellon.com/us/en/timeline.jsp
 

1791

1791  Congress Creates the First US Bank  A Private Company, Partly Owned by Foreigners  to Handle the Financial Needs of the New Central Government. Previously, the 13 states had their own banks, currencies and financial institutions.
 
http://www.thrivemovement.com/banking-history-timeline-follow-money

First Bank of the United States established - George Washington 1st President 1789-1797

After the founding of the government under the Constitution, Alexander Hamilton, Secretary of the Treasury, recommended the establishment of a Bank of the United States.  He argued that such a bank would increase the currency by issuing notes for circulation.   It would also make it easier for the government to obtain loans, and would enable the people to pay their taxes.

After considerable debate, Congress voted to establish First Bank of America , with a capital stock of $10,000,000, one fifth of which was subscribed by the government;  the remainder was subscribed by the public.

The bank was permitted to issue notes which were to be receivable for payments due the United States.

First Bank of the United States opened at Philadelphia in December, 1791, and subsequently established eight branches.  The bank had a charter for twenty years, which expired in 1811, and was not renewed because of the opposition to it which developed on the part of a  large number of state banks.

The Bank of the United States was also unpopular because much of its stock was held in foreign countries.

---------------------------------------------

The state of New York charters The Bank of New York.
1791 https://www.fdic.gov/about/history/timeline/1700s.html

 

1792

1792-Starting the Exchange
Long before computers, industrial averages, or opening bells, New York City stockbrokers were changing the way the world does business. Twenty-four gathered under a buttonwood tree just steps from what is now BNY Mellon headquarters to sign a document that would soon lead to the formation of the New York Stock Exchange. 
https://www.bnymellon.com/us/en/timeline.jsp

1792
Starting the Exchange

Long before computers, industrial averages, or opening bells, New York City stockbrokers were changing the way the world does business. Twenty-four gathered under a buttonwood tree just steps from what was BNY Mellon's original headquarters to sign a document that would soon lead to the formation of the New York Stock Exchange.
https://www.bnymellon.com/us/en/about-us/history.html

1792-Trading Up
The New York Stock Exchange opens. The Bank of New York is the first company traded. 
https://www.bnymellon.com/us/en/timeline.jsp
 

Stock Exchange

1799

With a legacy dating back to 1799, we have a history of demonstrating leadership during times of both economic growth and financial instability.
Major milestones in the firm's history in France: http://https://www.jpmorgan.com/FR/en/about-us

1799: The Manhattan Company, the firm?s earliest predecessor institution, is chartered.    https://www.jpmorgan.com/GB/en/about-us

JPMorgan Chase & Co. is one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 when its earliest predecessor was chartered in New York City.

Our firm is built on the foundation of more than 1200 predecessor institutions. Its major heritage firms  J.P. Morgan, Chase Manhattan, Chemical, Manufacturers Hanover (in New York City) and Bank One, First Chicago, and National Bank of Detroit (in the Midwest) were each closely tied, in their time, to innovations in finance and the growth of the United States and global economies. As JPMorgan Chase & Co does today, these firms also made significant contributions to their local communities.           http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

The Manhattan Company, J.P. Morgan's  earliest predecessor institution, is chartered. https://www.jpmorgan.com/pages/company-history

1799: The Manhattan Company, the firm?s earliest predecessor institution, is chartered.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history


1799- Yellow Fever breaks out in Manhattan. The Bank of New York and many other downtown businesses move to the then independent Greenwich Village. https://www.bnymellon.com/us/en/timeline.jsp

NOTE:The Manhattan Company was a New York bank and holding company established in 1799. The company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. It is the earliest of the predecessor institutions that eventually formed the current JPMorgan Chase & Co.

The U.S. charters the First Bank of the United States—the government's first attempt at a central bank. The bank has a 20-year charter, which is not renewed. In 1811, the bank is bankrolled by New York merchants and chartered by the state of New York. Today the bank is known as Citibank.
U.S. Presidents
during the 1700's
George Washington  George Washington (1789-1797)
John Adams  John Adams (1797-1801)
1799

A group of New York investors establish the Bank of Manhattan to fund construction of a water supply for New York City. The state of New York charters the bank. https://www.fdic.gov/about/history/timeline/1700s.html

 

1800

-There were only twenty-eight  banks in 1800.

-The capital moved from Philadelphia to Washington.

-----------

The Industrial Revolution produces a new class of merchants and manufacturers. The need for capital increases. Between 1815-1819, the U.S. economy booms and more banks exist. As a developing country, the U.S. has a reputation for not repaying loans, and many European banks refuse to lend to the U.S. government.
1809  https://www.fdic.gov/about/history/timeline/1800-1849.html

 

The Farmer's Exchange Bank in Glouchester, Rhode Island, fails—the first U.S. bank failure.
1816 

The Second Bank of the United States, which is the U.S. government's second attempt at a central bank, is established. Its 20-year charter is not renewed, and the U.S. does not have another central bank until 1913.
1819   https://www.fdic.gov/about/history/timeline/1800-1849.html

More than 420 banks exist in the U.S. All of them printing bank notes and making loans. Early 1800's
The Panic of 1819
The Second Bank of the United States calls its loans, a panic sweeps the U.S., and many banks fail.
1820 

Approximately 300 banks operate in the U.S.
Comly Rich house

New York is the first state to adopt an insurance plan for bank obligations. Between 1829 and 1866, five other states adopt similar plans.
1831   https://www.fdic.gov/about/history/timeline/1800-1849.html

Comly Rich house, Philadelphia. First U.S. home financed by a savings and loan association. Rich, a maker of combs, received a loan in 1831 from the Oxford Provident Building Association, the nation's first savings institution.
1837   https://www.fdic.gov/about/history/timeline/1800-1849.html

With the demise of the Second Bank of the United States in 1837, only state-chartered banks exist. During this period, known as the Free Banking Era, state chartering standards often are not very stringent, and many new banks are formed. Large numbers of them will fail. The era ends with the passage of the National Currency Act in 1863.
The Panic of 1837  https://www.fdic.gov/about/history/timeline/1800-1849.html

The mid-1830s witness an economic boom, characterized by inflation and speculation in public land sales and road and canal projects. The speculation is fueled, in part, by the following three policies:

    The removal of federal funds from the Bank of the United States and from other banks.
    A distribution of the federal surplus from these banks to state banks.
    A requirement that specie (gold or silver coin) be used to buy public lands (which leads to falling land sales and specie shortages).

The pressure on many banks increases and a lack of confidence in the state banks abounds. The resulting bank panic in 1837 causes many banks to fail over several years. This panic is followed by a sharp depression, tied to a general downturn in the business cycle that lasts until

1843

The first issue of the Bank Note Reporter is published. This weekly report on the value and validity of the bank notes was the most respected of many such publications that merchants relied upon to evaluate the reliability of currency.
1849

The Gold Rush begins.    http://1841.https://www.fdic.gov/about/history/timeline/1800-1849.html

1850-1899
The Mid-1800s

    European banks finance 30,000 miles of railway tracks in the U.S.—a new phase in high finance with the potential for large returns. Railroads become the driving force of the economy.

    The railroads open up the West and provide demand for the new steel industry, which makes new commerce and new industries possible. New cities emerge along the railways, and commerce organizes around these cities. Speculators seek capital for their new ventures.

    By 1914, there are 253,000 miles of railroad in the U.S.
    Prior to the Civil War, the U.S. has a loose system of finance and banking. As the nation grows, it demands a more mature financial system. The National Banking Acts of 1863, 1864, and 1865 are a significant movement in that direction.

    With the demise of the Second Bank of the United States in 1837, only state-chartered banks exist. During this period, known as the Free Banking Era, state chartering standards often are not very stringent, and many new banks are formed. Large numbers of them will fail. The era ends with the passage of the National Currency Act in 1863.

The Panic of The Panic of 1857
The economy is weak because of overbuilding of railroads and overextension by banks to finance construction. Several hundred banks fail. Most banks suspend specie payments, such as gold coins. Unemployment increases.
1859

Oil is discovered in Titusville, Pennsylvania.
1860

There are 1,562 state banks.
1862

7,000 different bank notes are in circulation; 5,500 fraudulent bank notes are in circulation.
1863

The Civil War destroys the South's economy; the North's economy flourishes.

President Abraham Lincoln composes the final Emancipation Proclamation on January 1, 1863. Civil War
National Currency Act of 1863

(Became known as the National Banking Act in 1864)
This act:

    Establishes a national currency: the dollar.

    Establishes national banks, which creates the dual banking system with national and state chartered banks—the only such system in the world.

National Banking Act of 1864

This act:

    Establishes the Office of the Comptroller of the Currency (OCC)
    Initiates a system of bank examinations.

National Banking Act of 1865

This act, intent on getting rid of bank notes, levies a tax on state currency. The tax goes from 2 percent to 10 percent, resulting in the use of checks.
1865

There are 349 state banks. There are 1,294 national banks.
1869

The Golden Spike connects the Central Pacific and Union Pacific railroads, commemorating the completion of the first transcontinental railroad in the world.
The Panic of 1873

During and immediately after the Civil War, the U.S. economy booms. This boom is accompanied by reckless financial expansion and speculation. Between 1867 and 1873, more than 30,000 miles of new railroads are constructed at an enormous capital cost.

When a large financier of railroads goes into bankruptcy, a financial panic occurs in the Northeast. Banks, brokerages, and businesses fail, stock prices collapse, consumer prices decline, and unemployment increases. Economic instability lasts for more than 20 years.
1870s

    Entrepreneurs begin to turn to local banks and wealthy individuals for venture capital through New York City banks.
    John D. Rockefeller, William Rockefeller, and partners create Standard Oil, the largest oil refining business in the world.
    Standard Oil is the first great American trust. The founding partners borrow much of their capital from the large New York bankers. Exxon Mobil is the largest of Standard Oil's descendants.

1877

The Chase National Bank is chartered.
1885

There are 1,015 state banks and 2,689 national banks.United States Congress seal
The Panic of 1893

During the late 1880s and early 1890s, severe weaknesses begin to appear in the economy, especially in the overbuilt, debt-ridden railroad industry, which has become the major sector of the U.S. economy. A railroad declares bankruptcy, and a panic sweeps through the securities markets. Railroad expansion halts.

The Panic triggers the collapse of railroad stock. The railways shift from thousands of small investors to two money trusts.

The economy slows, manufacturing and agricultural sectors operate at a fraction of capacity, and foreign investment declines.

The result: banking panic. For the first time, bank runs occur outside of New York City, in Kansas City, Louisville, Milwaukee, Denver, and Portland.
1886

Starting in 1886 and continuing until 1933, Congress considers 150 proposals to create deposit insurance plans.
The Late 1800s

Standard Oil becomes financially self-sufficient. It has more cash than any corporation in history and no longer needs Wall Street. The Standard Oil Trust has become a huge bank within an industry. It finances itself against competition and provides venture capital to other entrepreneurs on high-class collateral. The Standard Oil Trust "bank" becomes a natural, spontaneous offshoot of successful commerce.

U.S. railroads desperately need capital, and British investors respond, lending massive amounts of money.

President William McKinley launches the trust-busting era. He appoints several senators to the U.S. Industrial Commission. The Commission's report lays the groundwork for President Theodore Roosevelt's later attacks on the trusts' industrial titans.
Standard Oil building

Industry generates surplus capital. New York banks emerge from foreign dependence on capital. New York City emerges as an international banking center.

Financial panics and bank runs are common. The U.S. economy does not have stabilizers to provide liquidity, such as a central bank and deposit insurance.
1890

There are 2,250 state banks and 3,484 national banks.
U.S. Presidents
during the 1800's
Andrew Jackson  Andrew Jackson (1829-1837)
Abraham Lincoln  Abraham Lincoln (1861-1865)
Ulysses S. Grant  Ulysses S. Grant (1869-1877)
William McKinley  William McKinley (1897-1901)
1892
There are 3,733 state banks and 3,759 national banks.

1895
Deposits for First National City Bank (Citibank) reach $31 million—a 158 percent increase from $12 million in 1893.

1896

    The Dow Jones Industrial Average becomes a universal yardstick by which investors judge the stock market's performance.
    11,500 commercial banks operate in the U.S.

1898

Spanish-American War
The Spanish-American War begins. The U.S. gains control of the former colonies of Spain in the Caribbean and Pacific. Much of the Caribbean's economy is already in U.S. hands, and most of its trade is with the U.S.

The war increases the business and earnings of American railroads, increases the output of American factories, and stimulates industry and commerce.   https://www.fdic.gov/about/history/timeline/1850-1899.html

1801

  NEW  London Stock Exchange
Founded: March 3, 1801
Owner: London Stock Exchange Group
Subsidiaries: Hafren Dyfrdwy, Divex, Evraz Oregon Steel Mills

London Stock Exchange Group was created in October 2007 when London Stock Exchange merged with Milan Stock Exchange, Borsa Italiana. http://www.lseg.com/about-london-stock-exchange-group/london-stock-exchange-group-board
 

 

1804 

1804- First in Finance
The Bank of New York becomes depositary for what is believed to be the nation's first trust, established to provide for Alexander Hamilton's family after his death.
https://www.bnymellon.com/us/en/timeline.jsp

 

1811

There were eighty-eight  banks, with a capital stock of $42,600,000.

 

1812

1812-06-01 MARINE TRUST COMPANY OF WESTERN NEW YORK located at 241 MAIN STREET, BUFFALO, NY was established as a State Member Bank.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

Citi's origins date back to 1812, when the financial institution was established as the bank of New York City. Flexible and solution-oriented, constantly investing in innovative ideas, Citibank became in 1894 the largest bank in the United States, so that, in 1902, it already had branches in Asia. https://dq3l6ltyfpioeory66fd666bcy-jj2cvlaia66be-www-citibank-com.translate.goog/icg/sa/emea/romania/romanian/about-us.html

  NEW  citi timeline

1813

1813-The Bank of New York establishes a relationship with Baring Brothers, a British banking house. When Baring later made a substantial loan to the Bank in 1822, successful repayments improved the Bank?s financial position and set the stage for strong international ties. https://www.bnymellon.com/us/en/timeline.jsp

 
1815

The number of state banks increased from 88 to 246.

Many of these banks were organized without proper restriction and therefore issued notes beyond their power to redeem.  The loose credit system of selling public lands in the West led to inflation.   Disorder followed because many of the banks were  not properly supervised.

During the period from 1814 to 1817,the government received for the sale of its land worthless banknotes which amounted to more than $4,000,000

1816

1816  The Privately Owned Second Bank of the US was Chartered  It Served as the Main Depository for Government Revenue, Making it a Highly Profitable Bank http://www.thrivemovement.com/banking-history-timeline-follow-money

Second Bank of the United States is chartered -James Madison was 4th President 1809-1817

The charter for the first Bank of the United States had not been renewed by Congress when it ran out, and a second Bank of the United States had been chartered in 1816. Toward the end of Jackson's first term a bill was passed by Congress to renew the charter of this second bank.

President Jackson, in keeping with his frontier upbringing , disliked the bank.  He was afraid, as were many of the common people, that it was operated for the benefit of the moneyed classes.  Because of his personal feelings,  he vetoed the bill of Congress to extend its license...

After he was elected for the second term, Jackson ordered the Secretary of the Treasury to withdraw all United States funds from the national bank and to place them in various state banks. [source: History of Our United States, Second Edition, page 285]

1817

The South Carolina National Bank of Charleston is one of the most important buildings on Broad Street, South Carolina's oldest commercial street. It has been in continuous use as a bank since it was constructed in 1817. In the early 19th century, Charleston ranked highly enough as a commercial center to have a branch of the Second Bank of the United States, whose charter was drawn up by John C. Calhoun, the State's preeminent statesman.

This financial institution was the second attempt at a national bank; The First Bank of the United States had also established a branch in Charleston, now City Hall.

This Second Bank branch, that of Discount and Deposit, was the only bank in the city equipped to handle the international transactions so crucial to the rice trade, a mainstay of the Lowcountry economy. http://www.nps.gov/nr/travel/charleston/sbc.htm

1818

Brown Brothers Harriman was established in Philadelphia,
Pennsylvania in 1818. Through strategic investments and innovative business decisions, we have transitioned from leaders in merchant banking and transatlantic trade to an integrated worldwide financial services firm. We honor our past and we try to learn from it. But, in the day-to-day management of our business, we try to exercise enlightened opportunism. Because we are not beholden to stockholders, we try to take the long view and do what is best for our clients and the Partnership.

https://www.bbh.com/wps/portal/ourfirm/history

1819

Stockton and Darlington Railway funded by Barclays   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

  1824

The Chemical Bank is established.  https://www.jpmorgan.com/pages/company-history

1824: The Chemical Bank is established.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

 1824: The Chemical Bank is established.  https://www.jpmorgan.com/GB/en/about-us

NEWAlabama Secretary of State

JPMorgan Chase Bank
Entity ID Number     000 - 851 - 387
Entity Type     Foreign Corporation
Principal Address     20 PINE ST
NEW YORK, NY
Principal Mailing Address     20 PINE ST
NEW YORK, NY
Status     Exists
Place of Formation     New York
Formation Date     01/01/1824
Qualify Date     09/13/1929
Registered Agent Name     C T CORPORATION SYSTEM
Registered Office Street Address     2 NORTH JACKSON ST., SUITE 605
MONTGOMERY, AL 36104
Registered Office Mailing Address     2 NORTH JACKSON ST., SUITE 605
MONTGOMERY, AL 36104
Nature of Business     LOANS ON REAL ESTATE

Transactions
Transaction Date     10/07/1930
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     10/30/1930
Legal Name Merged         United States Mortgage & Trust Co.
Transaction Date     02/03/1933
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     12/04/1940
Registered Agent Changed From     HOWZE, HENRY
1ST NATL BK BLDG
BIRMINGHAM, AL
Transaction Date     02/13/1941
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     11/26/1945
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     05/31/1951
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     12/09/1953
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     11/04/1954
Legal Name Changed From         Chemical Bank & Trust Company
Transaction Date     11/04/1954
Miscellaneous Filing Entry         AMENDMENTS FILED (2)
Transaction Date     11/18/1955
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     02/20/1956
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     04/27/1956
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     10/15/1959
Legal Name Changed From         Chemical Corn Exchange Bank
Transaction Date     10/15/1959
Legal Name Merged         The New York Trust Company
Transaction Date     10/15/1959
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     01/30/1961
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     09/24/1962
Principal Office Changed From     165 BROADWAY
NEW YORK, NY
Transaction Date     07/24/1963
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     06/01/1964
Miscellaneous Filing Entry         AMENDMENTS FILED (3)
Transaction Date     04/16/1965
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     03/01/1966
Registered Agent Changed From     BALL SR, FRED S
BALL JR, FRED S
1ST NATL BK BLDG
MONTGOMERY, AL
Transaction Date     05/05/1966
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     11/14/1968
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     03/07/1969
Miscellaneous Filing Entry         AMENDMENT FILED
Transaction Date     07/22/1969
Legal Name Changed From         Chemical Bank New York Trust Company
Transaction Date     10/25/1974
Registered Agent Changed From     BALL SR, FRED S
BALL JR, FRED S
200 S LAWRENCE ST
MONTGOMERY, AL
Transaction Date     06/14/1977
Registered Agent Changed From     THE CORPORATION COMPANY
200 S LAWRENCE ST
MONTGOMERY, AL
Transaction Date     06/24/1980
Articles Of Corrections         LEGAL NAME CORRECTED
Transaction Date     08/08/1983
Registered Agent Changed From     THE CORPORATION COMPANY
ONE COURT SQUARE
MONTGOMERY, AL
Transaction Date     12/01/1997
Legal Name Changed From         Chemical Bank
Transaction Date     12/01/1997
Legal Name Merged         THE CHASE MANHATTAN BANK, NATIONAL ASSOCIATION (NY) Non-Qualified Foreign Into Qualified
Transaction Date     12/11/2001
Legal Name Changed From         The Chase Manhattan Bank (INC.)
Transaction Date     03/08/2010
Registered Agent Changed From     THE CORPORATION COMPANY
2000 INTERSTATE PARK DRIVE STE 204
MONTGOMERY, AL 36109
Transaction Date     03/01/2018
Legal Name Merged         Chase Equipment Finance, Inc.
Transaction Date     03/01/2018

https://arc-sos.state.al.us/cgi/corpdetail.mbr/detail?corp=000851387&page=name&file=&type=ALL&status=ALL&place=ALL&city=

1828

 

1832

1832  Andrew Jackson Campaigns Against the 2nd Bank of the US and Vetoes Bank Charter Renewal

Andrew Jackson was skeptical of the central banking system and believed it gave too few men too much power and caused inflation. He was also a proponent of gold and silver and an outspoken opponent of the 2nd National Bank. The Charter expired in 1836.
http://www.thrivemovement.com/banking-history-timeline-follow-money

1833

1833  President Jackson Issues Executive Order to Stop Depositing Government Funds Into Bank of US
By September 1833, government funds were being deposited into state chartered banks.  
http://www.thrivemovement.com/banking-history-timeline-follow-money

Jan 30, 1835 ? Jackson Escapes Assassination
Assassin misfired twice. 
http://www.thrivemovement.com/banking-history-timeline-follow-money

1833-1837  Manufactured boom created by central bankers  money supply Increases 84%, Spurred by the 2nd Bank of the US       The total money supply rose from $150 million to $267 million.[1]   http://www.thrivemovement.com/banking-history-timeline-follow-money
 

1836

The newly chartered Bank of Charleston purchased the South Carolina National Bank of Charleston building on Broad Street, South Carolina's oldest commercial street  building in 1836, shortly after the Second Bank failed following the withdrawal of all government deposits by President Andrew Jackson.  http://www.nps.gov/nr/travel/charleston/sbc.htm

1837

George Peabody, a Massachusetts's trader, set up a banking house - George Peabody & Co. - in London in 1837.

1837-1843  Terrible Depression      343 of the 850 banks in the US closed entirely as largest banks consolidated wealth and power.[2]   http://www.thrivemovement.com/banking-history-timeline-follow-money

 

1845

NEW  Founded in 1845 as City Bank of Cleveland, National City was the first bank opened under the Ohio Bank Act of 1845. The bank was built in response to the city’s rapid industrial development, serving customers such as Standard Oil and Sherwin-Williams. The company received a national charter in 1865, and became National City Bank of Cleveland. https://www.sec.gov/Archives/edgar/data/69970/000095015207003921/l26034ae425.htm

NEW  ING was founded in 1991 by a merger between Nationale-Nederlanden and NMB Postbank Group. During the past years ING has become a multinational with diverse international activities.

The roots of ING can be traced to the insurers De Nationale Levensverzekering Bank and De Nederlanden van 1845 and to the public bank services such as De Rijkspostspaarbank and De Postcheque- and Girodienst, as well as to the Nederlandsche Middenstands Bank. These are the legal predecessors of the ‘founding fathers’ of ING: Nationale-Nederlanden and NMB Postbank Group.

The founding of ING as one company was started in 1990 when the legal restrictions on mergers between insurers and banks were lifted in the Netherlands. This prompted insurance company Nationale-Nederlanden and banking company NMB Postbank Groep to enter into negotiations. The merger into Internationale Nederlanden Groep took place in 1991. The market soon abbreviated the name to I-N-G. The company followed suit by changing the statutory name to ING Groep N.V. Since 1991, ING has developed from a Dutch company with some international business to a multinational with Dutch roots. This was achieved through a mixture of organic growth, such as the creation of ING Direct from scratch, as well as various large acquisitions.

The first large acquisition took place in 1995, when ING took over Barings Bank. This acquisition increased the brand recognition of ING around the world and strengthened its wholesale banking presence in the emerging markets. And then there was Life of Georgia. This insurance company was acquired by Nationale-Nederlanden in 1979, resulting in a significant increase in activities in the US. Via Life of Georgia, the activities in Asia expanded considerably. However in 2004, ING as a group had become well-established in both regions and Life of Georgia was sold.

Other acquisitions, such as the Belgian Bank Brussels Lambert, strengthened the Group’s presence in the Benelux. In addition, the activities in the United States were doubled as a result of organic growth and the acquisition of Equitable of Iowa, ReliaStar, Aetna Financial Services and merchant bank Furman Selz.

ING is also active in other parts of the world. In 2001, ING acquired a majority interest in the Polish Bank Slaski and entered the Indian life insurance market through ING Vysya Life Insurance.

Furthermore, ING participates in a number of financial institutions. An important example is the partnership with the Bank of Beijing.     http://www.ing.com/About-us/Our-stories/History-of-ING.htm

1846

NEW

I know the following posts appear to be misplaced on the Deadbankers' timeline but this is the beginning place for the connecting post to come. jt

Did you not Sir Robert Horne, chanellor of the British exchequer, say the other day,March 11, that we must cancel that debt, and if we would cancel $11,000,000,000 which Europe owes us they will give Germany credit for it on what Germany owes them; in other words,our people will pay Germany's reparations.

Who has been appointed on that foreign debt refunding commission  Mr. Mellon, the financial tool of Wall Street, the financial associate of J. P. Morgan, A man holding office in violation of the law. Somebody ought to arrest him and send him to the penitentiary. A man ought not to be allowed to violate the law so flagranity and brazenly. What will he do for Mr. Morgan, and for himself incidentally  He will postpone our debt and get the first lien for his debt and then, when propaganda has done its work in schoolhouse, church, Kiwanis club, and so on, we will agree to cancel. You can propaganda us into anything.

Mr. President, how did England get into India? How did she get into Egypt? Let us take Egypt first. She went into Egypt as the partner of France. France had gone first and dug the Suez Canal. French money had paid for it. The Khedive had a controlling share of the stock. France and the Khedive together controlled the canal. During the ministry of Disraeli he and the Rothschilds compelled the Khedive to sell his controlling share of the stock, and the English Government now has it. There she holds that waterway, without which there can be no outlet. She holds the great dam on the White Nile and is completing a great dam on the Blue Nile. She says she has given freedom to Egypt. How much freedom? They may wear the form of freedom, but they will not have the substance of it as long as England controls the Suez Canal on the one hand and these two great reservoirs on the other, because Egypt is the one country that depends upon a river,she having no rainfall at all. ...


NOTE: The rest of this important document can be found in The United States Of America's Congressional Record (link below). jt

https://www.google.com/books/edition/Congressional_Record/sE4fn-QiDd4C?hl=en&gbpv=1&dq=Cameron+Norris+jpmorgan+gov&pg=PA4017&printsec=frontcover


The Suez Canal opened in 1869 and represented, along with the Panama Canal, one of the most significant maritime shortcuts ever built. It brought a new era of European influence in Pacific Asia by reducing the journey from Asia to Europe by about 6,000 km by skipping a detour around the Cape of Good Hope. Asia became more commercially accessible, and colonial trade expanded due to increased interactions because of reduced friction of distance. Great Britain, the maritime power of the time, benefited substantially from this improved access. https://transportgeography.org/contents/chapter1/emergence-of-mechanized-transportation-systems/suez-panama-canal-geography-impacts/


1904
Morgan finances the Panama Canal

J. P. Morgan & Co. helps finance the Panama Canal, arranging for the transfer of $40 million for the U.S. government to buy land rights from the failed French endeavor that had begun construction of the canal in 1881. The purchase is the largest real estate transaction in history up to that time. https://www.jpmorganchase.com/about/our-history

In 1903, Panama broke away from Colombia and became an independent state under U.S. protection. As part of this arrangement the United States took over the work on the Panama Canal, which had begun in the 1880s. On August 17, 1904, at the U.S. government's request, IBC opened a branch in Panama City, followed two years later by one in Col?n, on the Atlantic side of the young country. IBC provided financing for Panamanian development and banking services for firms working on canal-related business. By 1916, the Panama Canal was in uninterrupted operation and international shipping provided a new client base for financial institutions. https://www.citigroup.com/citi/about/timeline/
 

 

1848

Andrew Carnegie moved to the United States from Scotland in 1848 at the age of thirteen.For a while he worked in a cotton mill for $1.20 a week. Later, he went to work for the Pennsylvania Railroad, advanced rapidly, and became an official of the company.

Andrew Carnegie was one of the great Scots of the 19th century. His life has left a huge international legacy, but as his birthplace cottage testifies he came from humble beginnings. Adjacent to the cottage is the beautiful Art Deco museum hall, built by Andrew Carnegie’s widow in 1928 to explore his business career and philanthropy. Andrew Carnegie gave away 90% of his personal wealth, and supported the founding of internationally renowned landmarks such as *Carnegie Hall in New York, the Peace Palace in The Hague and the Mount Wilson Observatory in California.  https://www.welcometofife.com/view-business/andrew-carnegie-birthplace-museum

 *Carnegie Hall first opened its doors in 1891. Located on the corner of 57th Street and Seventh Avenue, it is a national historic landmark that comprises three venues: Stern Auditorium / Perelman Stage, Zankel Hall, and Weill Recital Hall. Additionally, Carnegie Hall also supports educational activities throughout the city and beyond through its Weill Music Institute.  https://www.carnegiehall.org/About

Gold discovered in California, January 18.

By 1848 the Bank of Charleston became a regional power with affiliates in Georgia, Alabama, Florida, and Louisiana. The bank managed to survive financially during the Civil War and Reconstruction, despite a $1.5 million loan to the Confederacy. http://www.nps.gov/nr/travel/charleston/sbc.htm

1824: The Chemical Bank is established The Waterbury Bank opens, a predecessor of the Chase Manhattan Bank. https://www.jpmorgan.com/pages/company-history  

1848: The Waterbury Bank opens, a predecessor of the Chase Manhattan Bank.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1848: The Waterbury Bank opens, a predecessor of the Chase Manhattan Bank. https://www.jpmorgan.com/GB/en/about-us

1849

The Detroit Savings Fund Institute was created on March 5, 1849.

Salmon Portland Chase AKA Salmon P. Chase, (nephew of Dudley Chase, cousin of Dudley Chase Denison, and father-in-law of William Sprague [1830-1915])elected to the United States Senate as a Free Soil candidate and served from March 4, 1849, to March 3, 1855; http://bioguide.congress.gov/scripts/biodisplay.pl?index=C000332

Comerica, originally called Detroit Savings Fund Institute, opened its doors on August 17, 1849, to a city bustling with shipyards, river trade, sawmills, horse drawn carriages and dirt roads. It had six customers that day, with receipts totaling $41. Within two years, the patronage increased to more than 300 with the tally at $25,000.
https://www.comerica.com/about-us/company-overview/company-information/company-history.html

 

1852 

Pittsburgh National Bank  the largest subsidiary of Pittsburgh National Corporation  originated in 1852 as the Pittsburgh Trust and Savings Company. James E. Laughlin, the founding partner of Jones & Laughlin, served as chair of the newly-formed bank.
https://www.pnc.com/en/about-pnc/company-profile/legacy-project/corporate-history.html

Augustus Savin Chase, became Waterbury Bank's Cashier in 1852 and President in 1865, controlled it until his death in 1896. http://historicbuildingsct.com/?p=6906

1853

NEW    1853-04-12 Institution established: Original name:United States Trust Company of New York
1995-08-24 Acquired J. & W. Seligman Trust Company (91258) in NEW YORK CITY, NY
1995-09-02 Merged into and subsequently operated as part of The Chase Manhattan Bank (National Association) (624) in NEW YORK CITY, NY
1996-06-15 Acquired The Chase Manhattan Bank of New Jersey, National Association (33995) in NEW YORK CITY, NY
1996-07-14 Changed name to The Chase Manhattan Bank (628)
1996-07-14 Merged into and subsequently operated as part of The Chase Manhattan Bank (628) in NEW YORK CITY, NY
1996-12-01 Acquired The Chase Manhattan Bank, National Association (23686) in MORRISTOWN, NJ
1998-10-01 Acquired Morgan Stanley Trust Company (27272) in NEW YORK CITY, NY
1999-03-05 Acquired Texas Commerce Trust Company of New York (91273) in NEW YORK CITY, NY
2000-08-01 Acquired Chase Bank of Texas, National Association (3263) in HOUSTON, TX
2001-08-01 Acquired Chase Bank of Texas-San Angelo, National Association (5508) in SAN ANGELO, TX
2001-11-10 Changed name to JPMorgan Chase Bank (628)
2001-11-10 Acquired Morgan Guaranty Trust Company of New York (637) in NEW YORK CITY, NY
2004-11-13 Changed institution class to INSURED COMMERCIAL BANK, NATIONAL, MEMBER FRS
2004-11-13 Changed primary regulatory agency from FEDERAL RESERVE BOARD to COMPTROLLER OF THE CURRENCY
2004-11-13 Changed name to JPMorgan Chase Bank, National Association (628)
2004-11-13 Moved bank headquarters from NEW YORK CITY, NY to COLUMBUS, OH
2004-11-13 Acquired Bank One, National Association (3618) in CHICAGO, IL
2004-11-13 Acquired Bank One, National Association (6559) in COLUMBUS, OH
2006-10-20 Acquired Bank One Trust Company, National Association (21377) in COLUMBUS, OH
2008-08-16 Acquired J. P. Morgan Trust Company, National Association (34696) in LOS ANGELES, CA
2008-09-25 Acquired Washington Mutual Bank (32633) in HENDERSON, NV as part of a government assisted transaction.
2008-09-25 Acquired Washington Mutual Bank FSB (33891) in PARK CITY, UT
2011-05-01 Reorganized.
2011-06-01 Reorganized.
2011-10-01 Reorganized.
2011-10-14 Acquired Custodial Trust Company (25809) in JERSEY CITY, NJ
2015-08-31 Acquired JPMorgan Bank and Trust Company, National Association (58729) in SAN FRANCISCO, CA
2019-05-18 Acquired Chase Bank USA, National Association (23702) in WILMINGTON, DE
https://www.usbanklocations.com/united-states-trust-company-of-new-york-646.shtml

U.S. Trust becomes the first company in the nation to transact the business of a trust institution.   http://www.ustrust.com/ust/pages/about-us.aspx

Our History and Heritage

At U.S. Trust, we have a long and rich history of helping clients achieve their own unique objectives. Since 1853, we've been committed to listening, building long-term relationships, and helping individuals and their families realize the opportunities they create for themselves, their children, businesses, communities and future generations.

A few of our milestones include:
1853: U.S. Trust becomes the first company in the nation to transact the business of a trust institution.
1880: U.S. Trust serves as Corporate Trustee for the Panama Canal
1906: Bank of Italy, today known as Bank of America, provides loans to citizens of San Francisco to rebuild after the earthquake.
1998: NationsBank acquires BankAmerica Corp to create the first coast-to-coast retail banking franchise - Bank of America
2007: Bank of America acquires U.S. Trust


http://www.ustrust.com/ust/pages/about-us.aspx

Established in 1853 by the nation's leading banks, The Clearing House originally functioned as the de facto central bank for banks in the United States long before the Federal Reserve was formed?facilitating exchanges, setting monetary policy, issuing a form of currency and even storing vaults of gold to back settlements.

---The Clearing House Association is a New York headquartered trade group with a deep legacy and tradition. Formed in 1853, it is the nation?s first banking association that today advocates on regulatory, legislative, and legal public policy issues on behalf of the largest U.S. commercial banks before policymakers, courts of law, and standards setters in the United States and abroad.

Banks that own The Clearing House Association:

Comerica  originally called Detroit Savings Fund Institute, opened its doors on August 17, 1849
Citibank  founded in 1812, Bank Handlowy in 1870, Smith Barney in 1873, Banamex in 1884 and Salomon Brothers in 1910. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex.
Capital one
BNY Mellon
BB&T
Citizens Bank
PNC BANK
M&T Bank
Key Bank
JP Morgan Chase & co.
Wells Fargo
USbank
MUFG
UBS
Bank Financial Group
SunTrust
HSBC
Barclays
State Street
Fifth Third Bank
Bank of the West
Bank of America
Deutsche Bank
Santander


https://www.theclearinghouse.org/about-tch/tch-owner-banks

1854

1854: Junius Spencer Morgan, J. Pierpont Morgan?s father, partners with George Peabody in the English banking house of George Peabody & Co. He succeeds Peabody as head of the firm and changes its name to J.S. Morgan & Co. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1854: Junius Spencer Morgan, J. Pierpont Morgan?s father, partners with George Peabody in the English banking house of George Peabody & Co. He succeeds Peabody as head of the firm and changes its name to J.S. Morgan & Co.  https://www.jpmorgan.com/GB/en/about-us

NEW:

To the Editor:

My wife, Frances FitzGerald, has been called a lot of things, but not until Benita Eisler’s review (Book Review, Sept. 14) of my book, “Frankie’s Place: A Love Story,” has anyone called her a woman “of inherited wealth.” And for good reason. It’s not the case.

What is true is that great fortunes were amassed on her mother’s side of the family. As I write in my book, Joseph Peabody, born in 1757, a privateer and Revolutionary War POW, built a global shipping empire. Schoonering opium between India and China, he was, perhaps, America’s pioneer drug dealer. George Peabody made a huge banking fortune in 19th century London. In 1854, he took on Junius S. Morgan as a partner and the bank evolved into J.P. Morgan and Co., but not before Peabody strayed into philanthropy. This began a long Peabody family drift into good works, religion and education. Frankie’s great-grandfather, Endicott Peabody, founded Groton School. Her grandfather became an Episcopal bishop. Her mother and uncles grew up as church mice. Frankie’s father was a government servant (in the CIA) -- not exactly a career path to riches. Her mother eventually remarried the wealthy Ronald Tree. But his fortune, which Frankie didn’t inherit, was largely dissipated in his lifetime. The very class-conscious Eisler then goes on to accuse me of betraying my poor Michigan farm-boy roots and becoming a snob by bad-mouthing our mansion-building neighbors as a “self-made CEO and his girlfriend.” This quote isn’t in the book and it is wrong. I liked him precisely because he is neither a dot-com millionaire nor Old Money. So did Frankie. “Sounds like an interesting guy,” she said.

Jim Sterba, New York City  https://www.latimes.com/archives/la-xpm-2003-oct-05-bk-letters5-story.html

 


1856

1856  Foundation
On July 16, 1856, the Schweizerische Kreditanstalt (SKA) founded by Alfred Escher, the predecessor to today's Credit Suisse, opens for business. Alfred Escher heads the SKA as the first Chairman of the Board of Directors from 1856-1877 and from 1880-1882.
  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1858

Discovery of silver in Nevada.

1859

1859- NEW YORK COMMUNITY BANK COMPANY
Established on April 14, 1859 in the village of Flushing, Queens County Savings Bank was the first savings bank chartered by the State of New York in the New York City borough of Queens. https://www.zippia.com/new-york-community-bancorp-careers-8127/history/   NEW

NEW  1859- The Company [AXA]was incorporated as a stock life insurance company under the laws of New York on July 26, 1859 under the name of Equitable Life Assurance Society of the United States. The Company was licensed on July 25, 1859 and commenced business on July 28, 1859. In 1917, the Company commenced the process to become a mutual life insurance company. The Company completed its conversion to a mutual company in 1925.

On July 22, 1992, the Company demutualized and converted back to a stock life insurance company and became a wholly-owned subsidiary of The Equitable Companies Incorporated (EQ'). In connection with the demutualization, the Company's eligible policyholders received cash, policy credits or common stock of EQ. At demutualization on July 22, 1992, AXA, a French holding company for an international group of insurance and related financial services companies, became the owner of 49% of EQ's common shares outstanding as well as the owner of convertible preferred stock in exchange for a $1 billion investment.

On December 19, 1994, EQ exchanged all its outstanding redeemable preferred stock and substantially all of its convertible preferred stock for common stock, a new series of convertible preferred stock and convertible debentures. As a result, AXA?s ownership percentage of EQ as of December 31, 1995 increased to 60.6%.

On September 3, 1999, EQ changed its name to AXA Financial, Inc. (AXA Financial).

In 1999, AXA Client Solutions, LLC (?Client Solutions') was formed as a wholly-owned direct subsidiary of AXA Financial. At the same time, AXA Financial contributed to Client Solutions all of the Company's common stock, making Client Solutions the direct parent of the Company.

On August 30, 2000, AXA Financial received a proposal from AXA for the acquisition of all of the outstanding common shares of AXA Financial not owned by AXA.

 On January 2, 2001, AXA completed its acquisition of the remaining minority interest in AXA Financial.

On January 1, 2002, Client Solutions distributed all of the Company's common stock to AXA Financial, thereby making AXA Financial the direct parent of the Company.

On April 22, 2002, Client Solutions changed its name to AXA Financial Services, LLC.

Effective June 1, 2002, AXA Financial transferred ownership of the Company back to AXA Financial Services, LLC thereby making it once again the direct parent of the Company.

Effective September 7, 2004 the Company, formerly known as Equitable Life Assurance Society of the United States, changed its name to AXA Equitable Life Insurance Company.

Effective November 7, 2007 AXA Financial Services, LLC changed its name to AXA Equitable Financial Services, LLC.

The Company is licensed to do business in all fifty states, the District of Columbia and Puerto Rico.

According to the Schedule T of their 2016 annual statement for the State of Delaware, AXA Equitable Life Insurance Company reported life insurance premium considerations in the amount of $33,864,135, and annuity premium considerations in the amount of $36,405,535.

[December 31, 2016-The examination conducted by Shelly Schuman, Joseph Krug, Peter Salvatore and Brian Tinsley is respectfully submitted.
__________________________________
Brian Tinsley, MCM
Examiner-in-Charge
Market Conduct
Delaware Department of Insurance?

---New York Community Bank  was chartered by the State of New York in Queens, a borough of New York City.  https://www.mynycb.com/Pages/AboutUs.aspx 

---Queens County Savings Bank? -Established on April 14, 1859 in the village of Flushing, Queens County Savings Bank - the forebear of New York Community Bank - was the first savings bank chartered by the State of New York in the New York City borough of Queens.  https://www.mynycb.com/Pages/AboutUs.aspx

---Colonel E.L. Drake sinks an oil well in western Pennsylvania. A few years before  that, a professor of chemistry at Yale University had analyzed oil and had come to the conclusion that by very simple and inexpensive processes many valuable products could be manufactured from it.

1860

 

1861

 

 

  On January 1, 1861, Cooke formed his own banking firm. To begin the work of Jay Cooke & Company, he borrowed three million dollars from the government of Pennsylvania. The company prospered as it acquired money for the federal government to finance Northern efforts during the American Civil War. Cooke helped develop a sound fiscal policy that provided the government with the necessary capital to win the war. He negotiated loans for the government and handled the sale of government bonds. By the end of the Civil War, Cooke had secured more than three billion dollars for the federal government through various loans. Because of his contributions, Cooke became known as the "financier of the Civil War." The nation emerged from the war deeply in debt, but the currency of the United States was stable. U.S. citizens and residents of foreign countries viewed United States bonds as fiscally responsible investments. During the war, Cooke also served as a financial adviser to the State of Ohio and helped the state's wartime governors develop sound fiscal policies, most notably the issuing of state bonds.

Following the war, Cooke utilized the wealth that he acquired during the conflict to become involved in a number of other industries, including coal and iron mining, life insurance, and railroads. Cooke played a major role in financing the efforts of the Northern Pacific Company to build a transcontinental railroad. Cooke and his company became financially overextended, and his company failed at the beginning of the Panic of 1873. Cooke lost nearly all of his entire fortune. He regained his wealth through various investments during the late 1800s. Jay Cooke died on February 16, 1905. https://ohiohistorycentral.org/w/Jay_Cooke

Secession of Mississippi (January9), Florida (January 10),Alabama (January11), Georgia (January 19), Louisiana (January 26), Texas (February 1). Kansas admitted into the Union, January 29.

Southern Confederacy founded at Montgomery, Alabama, February 4; Jefferson Davis chosen as President.

Abraham Lincoln inaugurated, March 4.

Secession of Virginia (April17), Arkansas (May 6), North Carolina (May 21), and Tennessee (June 8).

Salmon Portland Chase AKA Salmon P. Chase was appointed secretary of the treasury by President Abraham Lincoln. He took office on March 7, 1861. The United States now is divided into two countries: The Confederate States of America, with Jefferson Davis as president; The United States of America, with Abraham Lincoln as president. The Union was in need of revenue as the two countries were headed into war..

Chase implemented a unified nationwide banking system with the National Banking Act, and devised the idea of utilizing paper currency to function as war notes. The "greenback" bills, which came in various denominations, became the basis for the federal paper money system that Americans use today. In order to collect taxes to finance the government's war effort, he also established the Bureau of Internal Revenue, which later became known as the Internal Revenue Service.

--As Treasury Secretary from 1861 to 1864, Salmon Chase raised the $500 million needed to finance the Civil War after striving hard to prevent it?s having to be fought at all. To accomplish this, he sold war bonds with the help of early investment bankers Jay Cooke & Co.

Chase also was the father of our modern paper currency as he created the first "greenback" demand note in 1861. We won?t hold the fact that his own face appeared on many of these notes against him. Chase is said to have personally made the decision to have "In God We Trust" added to the bills as well. 
http://www.philstockworld.com/tag/10000-bill/ 

NEW  "Smith Barney traces its origins back to Philadelphia where Jay Cooke (created the bond sales force) to help finance the Union cause in the Civil War. They were primarily an institutional firm unitl the 1976 merger with Harris Upham. It was a fine, high quality firm with wonderful roots right here.                                                                                                                        https://www.inquirer.com/philly/blogs/inq-phillydeals/Citi_sells_Smith_Barney_old_Philly_name_seeks_subprime_exit.html

The Revenue Act of 1861, the first United States Federal Income Tax, was passed August 5th 1861.

The Revenue Act of 1861 was the first Federal Income Tax law. It was passed as a means to fund the Civil War. It stated that an income tax was to be levied, collected, and paid, upon the annual income of every person residing in the United States, whether such income is derived from any kind of property, or from any profession, trade, employment, or vocation carried on in the Unite States or elsewhere, or from any other source. Any income over $800 was taxed at 3%, unless the person was living outside of the United States in which case they were taxed at 5%.

This flat rate tax was repealed in 1862 and replaced by a progressive tax. This replacement the "Revenue Act of 1862" was also meant to be temporary, expiring in 1866.
Posted by LivingInVermont at 5:55 AM
Labels: Income Tax, Revenue Act of 1861

http://lifeofthecivilwar.blogspot.com/2011/08/beginning-of-irs.html

NEW Only one direct tax to be laid under act 1861,ch.45,until April 1, 1865. Ante,p.294.
https://www.loc.gov/law/help/statutes-at-large/37th-congress/session-2/c37s2ch119.pdf

1861  American Civil War  http://www.thrivemovement.com/banking-history-timeline-follow-money

1862-1863 Lincoln Over Rules Debt-Based Money and Issues Greenbacks to Fund the War http://www.thrivemovement.com/banking-history-timeline-follow-money

Bankers would only lend the government money under certain conditions and at high interest rates, so Lincoln issued his own currency "greenbacks" through the US Treasury, and made them legal tender. His soldiers went on to win the war, followed by great economic expansion. http://www.thrivemovement.com/banking-history-timeline-follow-money


 

1862

NEW John D. Rockefeller started as a bookkeeper in Cleveland, became a merchant, accumulated money, and decided that, in the new industry of oil, who controlled the oil refineries controlled the industry. He bought his first oil refinery in 1862, and by 1870 set up Standard Oil Company of Ohio, made secret agreements with railroads to ship his oil with them if they gave him rebates discounts -- on their prices, and thus drove competitors out of business. http://colfa.utsa.edu/users/jreynolds/Textbooks/Rockefeller/Rockefeller%20Zinn.htm

---The oil industry was developed largely by John D. Rockefeller, who in 1862 invested his first earnings in the oil refining business.

--- In order to further finance the war, the Bureau of Engraving and Printing was established in 1862 to print the Government's first currency, known as greenback because of its color. These were legal tender notes not backed by specie. Chase disapproved in principle of the legal tender notes; with no requirement for specie backing they could be printed in unlimited quantities and were therefore inflationary. He recognized their necessity in a time of emergency, but later, as Chief Justice of the Supreme Court, he would declare the notes unconstitutional. http://www.treasury.gov/about/history/Pages/spchase.aspx

NEW Transcript of Pacific Railway Act 1862

1863

Jan. 1, 1863-Slavery abolished in the states in rebellion by the Emancipation Proclamation of President Abraham Lincoln

NEW National Bank Act 1863- http://numismatics.org/pocketchange/wp-content/uploads/sites/3/national-bank-act-1863.pdf

This is where the American people started getting robbed

The story of the Office of the Comptroller of the Currency and the national banking system begins in 1863, when the National Currency Act was passed by Congress and signed into law by President Abraham Lincoln.  https://www.occ.gov/about/who-we-are/history/1866-1913/index-occ-history-1866-1913.html

National bank system established. http://numismatics.org/pocketchange/wp-content/uploads/sites/3/national-bank-act-1863.pdf

U.S. Bank   
Concentration: All Other Specialization > 1 Billion
Established: 1863-07-13
FDIC Insurance: 1934-01-01
Holden By: U.S. Bancorp
Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) 
http://www.usbanklocations.com/u-s-bank-u-s-bank-national-association.html

"Four score and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.

Now we are engaged in a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can long endure. We are met on a great battle-field of that war. We have come to dedicate a portion of that field, as a final resting place for those who here gave their lives that that nation might live. It is altogether fitting and proper that we should do this.

But, in a larger sense, we can not dedicate -- we can not consecrate -- we can not hallow -- this ground. The brave men, living and dead, who struggled here, have consecrated it, far above our poor power to add or detract. The world will little note, nor long remember what we say here, but it can never forget what they did here. It is for us the living, rather, to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us -- that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion -- that we here highly resolve that these dead shall not have died in vain -- that this nation, under God, shall have a new birth of freedom -- and that government of the people, by the people, for the people, shall not perish from the earth." -
Abraham Lincoln   November 19, 1863  http://www.abrahamlincolnonline.org/lincoln/speeches/gettysburg.htm

1863-Hamlin Bank and Trust Company was founded in December 1863 and is based in Smethport, Pennsylvania. According to the Federal Deposit Insurance Corporation records and based on the institution's charter type, Hamlin Bank and Trust Company is classified as a commercial bank, state charter and Fed nonmember, supervised by the FDIC.         https://www.bankbranchlocator.com/hamlin-bank-and-trust-company/   NEW

1864

 NEW  J.P. Morgan’s leadership in the United Kingdom extends back to the middle of the nineteenth century. J. Pierpont Morgan’s father, Junius, was in the merchant banking business in London from 1854 until his death in 1890.

In 1873, the Scottish American Investment Trust, a predecessor firm (Robert Fleming & Co. was sold to Chase Manhattan in 2000) was formed.

In 1887, Jarvis-Conklin Mortgage Trust Company opened in London and through a series of mergers and reorganizations, this firm became part of the Chase Manhattan Bank. http://https://www.jpmorgan.com/GB/en/about-us

 NEW  Tri-Continental Corporation is one of the nation's largest, diversified, publicly traded closed-end equity investment companies and has paid dividends for 63 consecutive years. The Fund is managed by J. & W. Seligman & Co. Incorporated, a New York-based investment manager and advisor, which was founded in 1864. Seligman Advisors, Inc. is the principal underwriter of the Seligman mutual funds. https://www.sec.gov/Archives/edgar/data/99614/000119312507076186/ddefa14a.htm

1865

 

With President Abraham Lincoln dead who besides the bankers gained! I do believe that those manipulating  the economy today are connected with those who manipulated the American people at the time that President Lincoln was murdered.  jt

Abraham Lincoln (1861-1865), was in office, times were very different. President Lincoln is well known for his leadership during the Civil War and for signing the Emancipation Proclamation, which freed the slaves. However, did you know that he also established the United States Secret Service?

On the advice of Secretary of the Treasury Hugh McCulloch, President Lincoln established a commission to stop this rapidly growing problem that was destroying the nation's economy, and on April 14, 1865, he created the United States Secret Service to carry out the commission's recommendations. https://clintonwhitehouse3.archives.gov/WH/kids/inside/html/spring98-2.ht 

April 14, 1865  Lincoln Assassinated 

Lincoln was at City Point when Richmond was evacuated.  On the 9th he returned to Washington, deeply concerned with the work of reconstruction.   To one who said that Jefferson Davis must be hanged, he replied, "Judge not, that ye be not judged."  On the 14th he met his cabinet and discussed a policy of reconstruction.   "I hope there will be no persecution," he said, " no bloody work after the war is over.    No one need expect me to take any part in hanging or killing those  men, even the worst of them....  We must extinguish our resentments if we expect harmony and union."  That evening he attended the theater with his family.  While the play progressed...John Wilkes Booth ... gained access to the president's box and fatally wounded him with a pistol shot.... (page 568, A Short History Of The United States 1492- 1938, by John Spencer Bassett, Ph. D., published 1939 by  The Macmillan Company)

http://www.thrivemovement.com/banking-history-timeline-follow-money

HSBC was founded by Thomas Sutherland, a young Scotsman working in Hong Kong for a large shipping firm. He had never held a bank account himself, but while sailing along the South China coast in 1864, he read an article on Scottish banking that inspired him. Local and foreign trade in Hong Kong and at ports in China and Japan had increased rapidly in the preceding few years, and Sutherland recognised that businesses needed better local banking facilities.

Sutherland decided to set up a bank that would be owned and managed locally and would support international trade. So the dynamic Scot created a prospectus and used his standing and connections in the Hong Kong business community to gain support for the venture. By the time the prospectus was published, Sutherland had the backing of 14 of the biggest firms operating in Hong Kong. The founding capital was HKD5 million, consisting of 20,000 shares at HKD250 each. The shares sold quickly and The Hongkong and Shanghai Banking Corporation Limited was born. 

1865- The first branch
HSBC opened its doors in Hong Kong on 3 March 1865 and in Shanghai a month later. Its first office was in Wardley House (pictured above) at 1 Queens Road in the City of Victoria, the heart of Hong Kongs Central district. The bank has built a series of head offices on the site since and 1 Queen?s Road Central remains the banks Hong Kong headquarters today. In July 1865, the bank opened an office in London to enable exchange operations with China and India and to help it recruit and train junior bankers. https://www.hsbc.com/who-we-are/our-history/history-timeline

NEW The bank has been implicated in one scandal after another, and  the current leadership claims to be wanting to restore the bank’s reputation.  But what reputation do they aim to restore?  Is it the airbrushed version of a bank rooted in “Scottish banking principles”, or is it an altogether darker reputation reflecting HSBC’s original role as a source of funding for the giant trade of opium into the Chinese markets in the nineteeth century?  As one blogger, based in Rochester, USA, put it in 2013: “When HSBC executives were caught late last year financing the Mexican and other drug cartels, they were returning to the company’s historic roots.”

As this article from Le Monde Diplomatique explains, HSBC was founded after the second of the Opium Wars, by which time the trade was already well established.  The founders included several opium traders who recognised the profitable banking opportunities presented by the new market.  As Le Monde Diplo explains:

    Another Scotsman, Thomas Sutherland, had joined P&O. He devoted his career to the company, worked on the construction of new wharves in Hong Kong and became the Hong Kong superintendent of P&O as well as the first chairman of Hong Kong and Whampoa Dock in 1863. Opium made up 70% of maritime freight from India to China, where it was sold to the Chinese by British compradores, despite all efforts by the Chinese authorities to stop it.

    Sutherland understood that the time was right for a commercial bank. In 1865 he and a few others founded the Hong Kong and Shanghai Banking Corporation. The board was chaired by Francis Chomley, and included the remarkable Thomas Dent, founder of Dent & Co. In 1839 a senior Chinese government official, Lin Zexu, known for his competence and moral standing, issued a warrant for Dent’s arrest in an attempt to close his warehouses, which infringed the Chinese ban on opium. That helped trigger the first opium war, which ended in August 1842 with the unequal treaty of Nanking.

    After the second opium war (1856-60), the British and French imposed territorial concessions under foreign administration, the opening of Chinese ports to foreign trade and the legalisation of the opium trade. When Sutherland began the Hong Kong and Shanghai Banking Corporation, the conflict had been over for five years. The Chinese characters in the transliteration of its name are auspicious, and can be understood to mean gathering wealth.

    HSBC’s first wealth came from opium from India, and later Yunan in China.   https://taxjustice.net/2015/02/27/hsbc-and-the-worlds-oldest-drug-cartel/

 

NEW Only one direct tax to be laid under act 1861,ch.45,until April 1, 1865. Ante,p.294.

States of America in Congress assembled, That Walter S. Burgess, William P. Blodget, Benjamin H. Cheever, Charles Fosdick Fletcher, Corporators. of Rhode Island;

Augustus Brewster, Henry P. Haven, Cornelius S. Bushnell, Henry Hammond, of Connecticut;

Isaac Sherman, Dean Richmond, Royal Phelps, William H. Ferry, Henry A. Paddock, Lewis J. Stancliff, Charles A. Secor, Samuel R. Campbell, Alfred E. Tilton, John Anderson, Azariah Boody, John S. Kennedy, H. Carver, Joseph Field, Benjamin F. Camp, Orville W. Childs, Alexander J. Bergen, Ben. Holliday, D. N. Barney, S. De Witt Bloodgood, William H. Grant, Thomas W. Olcott, Samuel B. Ruggles, James B. Wilson, of New York;

Ephraim Marsh, Charles M. Harker, of New Jersey; John Edgar Thompson, Benjamin Haywood, Joseph H. Scranton, Joseph Harrison, George W. Cass, John H. Bryant, Daniel J. Morell, Thomas M. Howe, William F. Johnson, Robert Finney, John A. Green, E. R. Myre, Charles F. Wells, junior, of Pennsylvania;

Noah L. Wilson, Amasa Stone, William H. Clement, S. S. L'Hommedieu, John Brough, William Dennison, Jacob Blickinsderfer, of Ohio;

William M. McPherson, R. W. Wells, Willard P. Hall, Armstrong Beatty, John Corby, of Missouri; S. J. Hensley, Peter
Donahue, C. P. Huntington, T. D. Judah, James Bailey, James T. Ryan, Charles Hosmer, Charles Marsh, D. O. Mills, Samuel Bell, Louis
McLane, George W. Mowe, Charles McLaughlin, Timothy Dame, John R. Robinson, of California;

John Atchison and John D. Winters, of the Territory of Nevada;

John D. Campbell, R. N. Rice, Charles A. Trowbridge, and Ransom Gardner, Charles W. Penny, Charles T. Gorham, William McConnell, of Michigan;

William F. Coolbaugh, Lucius H.Langworthy, Hugh T. Reid, Hoyt Sherman, Lyman Cook, Samuel R. Curtis, Lewis A. Thomas, Platt Smith, of Iowa;

William B. Ogden, Charles G. Hammond, Henry Farnum, Amos C. Babcock, W. Seldon Gale, Nehemiah Bushnell and Lorenzo Bull, of Illinois;

William H. Swift, Samuel T. Dana, John Bertram, Franklin S. Stevens, Edward R. Tinker, of Massachusetts - Franklin Gorin, Laban J. Bradford, and John T. Levis, of Kentucky;

James Dunning, John M. Wood, Edwin Noyes, Joseph Eaton, of Maine; Henry H. Baxter, George W. Collamer, Henry Keyes, Thomas H. Canfield, of Vermont; William S. Ladd, A. M. Berry,
VOL. xI. PUB.-62
https://www.loc.gov/law/help/statutes-at-large/37th-congress/session-2/c37s2ch119.pdf

Kidder was founded in Boston on April 1, 1865, by Henry Kidder, Francis Peabody and Oliver Peabody. When the firm first opened, it advertised "banking, brokerage and exchange business." - See more at: http://wallstreetlaw.typepad.com/sherman/kidder-peabody-collapse/#sthash.VQRfk0wa.dpuf

Kidder, Peabody & Co. was an American securities firm, established in Massachusetts in 1865. The company's operations included investment banking, brokerage, and trading.

The firm was sold to General Electric in 1986. Following heavy losses, it was subsequently sold to PaineWebber in 1994. After the acquisition by PaineWebber, the Kidder Peabody name was dropped, ending the firm's 130-year presence on Wall Street.[1] Most of what was once Kidder, Peabody is now part of UBS AG, which acquired PaineWebber in November 2000.[2]https://en.wikipedia.org/wiki/Kidder,_Peabody_%26_Co.

 Kidder Faces Life After Siegel

1865- President Lincoln shot by an assassin, April 14; dies a few hours later.

1865- Andrew Johnson inaugurated President, April 15.

1865- Rockefeller organized the firm of Rockefeller and Andrews.  Very early John D. Rockefeller saw the advantage of large-scale operations and, together with H. M. Flagler, worked to secure more effective consolidation.

1865- ITU was founded in Paris in 1865 as the International Telegraph Union. It took its present name in 1932, and in 1947 became a specialized agency of the United Nations. Although its first area of expertise was the telegraph, the work of ITU now covers the whole ICT sector, from digital broadcasting to the Internet, and from mobile technologies to 3D TV. An organization of public-private partnership since its inception, ITU currently has a membership of 193 countries and some 700 private-sector entities. ITU is headquartered in Geneva, Switzerland, and has twelve regional and area offices around the world.
History of ITU Portal: Explore some highlights and documents from ITU's illustrious history. https://www.itu.int/en/about/Pages/history.aspx

The Bowery National Bank was founded by flour merchant William R. Foster and Richard Hamilton in 1865.
It was renamed the Bowery Bank of New York in 1889. After three-and-a-half decades at the corner of Canal Street, the bank moved to this location in 1902 and welcomed depositors until 1925, when it merged with the East River National Bank. As part of a subsequent merger it became part of the National City Bank of New York, a precursor to Citibank. http://s-media.nyc.gov/agencies/lpc/lp/2518.pdf 

Dec. 18, 1865- Slavery in any state or territory forbidden by Amendment XIII [13] to the United States Constitution.

 NEW  Founded in 1845 as City Bank of Cleveland, National City was the first bank opened under the Ohio Bank Act of 1845. The bank was built in response to the city’s rapid industrial development, serving customers such as Standard Oil and Sherwin-Williams. The company received a national charter in 1865, and became National City Bank of Cleveland.
The bank grew steadily in the early 20th century, weathering the stock market crash and the Great Depression. Many were forced to close during this time, but National City Bank was permitted to continue business without restrictions and was the only bank in Cleveland to pay out withdrawn deposits at face value. Cleveland and National City prospered through WWII and the post-war boom, growing rapidly in assets—to $475 million by 1945.          https://www.sec.gov/Archives/edgar/data/69970/000095015207003921/l26034ae425.htm

 NEW  National City Corporation (National City or the Corporation), successor to a banking business founded on May 17, 1845, is a $150 billion financial holding company headquartered in Cleveland, Ohio. National City operates through an extensive distribution network in Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Wisconsin, and also conducts selected lending and other financial services businesses on a nationwide basis. The primary source of National City’s revenue is net interest income from loans and deposits, revenue from loan sales and servicing, and fees from financial services provided to customers. Business volumes tend to be influenced by overall economic factors, including market interest rates, business spending, the housing market, consumer confidence, as well as competitive conditions within the marketplace. Operations are primarily conducted through more than 1,400 branch banking offices located within National City’s nine-state footprint. In addition, National City operates over 410 retail mortgage offices throughout the United States.  https://www.sec.gov/Archives/edgar/data/69970/000095015208001079/l29397ae10vk.htm

1866

NEW  In 1866 the Russian government offered to sell the territory of Alaska to the United States. Secretary of State William H. Seward, enthusiastic about the prospects of American Expansion, negotiated the deal for the Americans. Edouard de Stoeckl, Russian minister to the United States, negotiated for the Russians. https://www.archives.gov/milestone-documents/check-for-the-purchase-of-alaska

NOTE: could this have something to do with why President Lincoln was murdered?

NEW The Madison, Indianapolis and Lafayette Railroad Company was chartered in 1832, only completing engineering surveys. It then became the the Madison and Indianapolis Railroad, the first in Indiana,incorporated in 1836, when Indiana legislators mandated it as part of the Internal Improvement Act.

Construction began in Madison, Indiana and was completed to Indianapolis in 1847. Its importance was in linking the Ohio River to the interior of the state, including the state capitol. Initially owned by the state, it was later sold and had to compete with other railroads.

In January 1854 it consolidated with the Peru and Indianapolis Railroad Company but a court injunction terminated the merged in September 1854. Reorganized from bankruptcy in 1866 as the Indianapolis and Madison Railroad, which then merged with the Jeffersonville Railroad on April 30, 1866, becoming the Jeffersonville, Madison and Indianapolis Railroad Company. The line then became part of the Pennsylvania Railroad system in 1869. https://www.in.gov/library/finding-aid/L204_Jeffersonville_Madison_and_Indianapolis_Railroad_Collection.pdf

1866  UNION SAVINGS BANK IS FOUNDED
Union Savings Bank was founded in 1866 by a group of Danbury's leading citizens including James S. Taylor, the Bank's first President. James was a descendant of Thomas Taylor, patriarch of one of the eight original families that founded Danbury.

1867

NEW  On March 30, 1867, the two parties agreed that the United States would pay Russia $7.2 million for the territory of Alaska.
https://www.archives.gov/milestone-documents/check-for-the-purchase-of-alaska

1868

NEW  The history of J.P. Morgan in France dates back nearly half a century before the firm purchased its celebrated location on Place Vendôme in 1916. In 1868, the firm’s earliest predecessor in Paris opened as Drexel, Harjes & Co., a banking firm run by Anthony Drexel whom J. Pierpont Morgan would later partner with in New York. https://www.jpmorganchase.com/news-stories/house-of-finance-in-historic-place-vendome

Our roots in France date back to 1868, when the firm became one of the first foreign banks to be established in the country. From Paris, we offer our clients investment banking, access to credit and rates markets, equity brokerage, private banking, investment management and treasury and securities services. https://www.jpmorgan.com/FR/en/about-us

ITU based in Switzerland
The 1868 International Telegraph Conference, in Vienna, decided that ITU would operate from its own bureau in Berne, Switzerland. It began with just three members of staff.

In 1948, the headquarter??s of ITU were moved from Berne to Geneva.

https://www.itu.int/en/history/Pages/ITUsHistory.aspx

 NEW 1868: Anthony Drexel, a Philadelphia banker, opens Drexel Harjes & Co. at 83 rue Scribe.  Drexel Harjes operates as a partnership and serves as the Paris branch of Drexel’s Philadelphia firm, Drexel & Co.  J. Pierpont Morgan later becomes a partner.  http://https://www.jpmorgan.com/FR/en/about-us

 

Check for the Purchase of Alaska  [click thumbnail]
 

Cancelled check in the amount of $7.2 million, for the purchase of Alaska, issued August 1, 1868; Records of the Accounting Officers of the Department of the Treasury; Record Group 217; National Archives.

With this check, the United States purchased Alaska from Russia for $7.2 million. For less than 2 cents an acre, the United States acquired nearly 600,000 square miles
http://www.archives.gov/historical-docs/document.html?doc=10&title.raw=Check%20for%20the%20Purchase%20of%20Alaska

Bought from Russia by US Government in 1867 for 2 cents per acre ($7.3 million). The US military are a major landowner, with around 2 million acres, and are responsible for about 18,000 jobs in Alaska. The main industry is oil, which produces state revenues of over $2 billion pa, from about 15.7 million acres leased to American and British oil compaines. The US Government estimates that there are 15 million acres of agricultural land in Alaska, of which under 1 million acres are currently cultivated. There are five main groups of native people in Alaska, which takes its name from the Aleut word for "great land": Alyeska. Many of the native peoples have Russian surnames from the period of Russian colonisation (c. 1690-1867). The main groups of native people are: the North coast indians, the Inupiaqs, the Yupiks, the Aleuts and the Athabascan Indians. http://www.whoownstheworld.com/about-the-book/alaska-usa/

NOTE: 

[Alaska's] main oil companies with the 15 million acres of leases are: Chevron, BP Exploration, Exxonmobil, Marathon, Phillips, Shell, totalFina and Unocal. http://www.whoownstheworld.com/about-the-book/alaska-usa/
 

1869

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. http://www.goldmansachs.com/who-we-are/at-a-glance/index.html

T. Mellon & Sons' Bank is established in 1869. When patriarch Thomas retires in 1882, his sons Andrew and Richard are there to take over the family business. In 1902, the name is changed to Mellon National Bank and joins the national banking system.
https://www.bnymellon.com/us/en/timeline.jsp
 

1870

1870  First Representative Office
The first Credit Suisse foreign representative office is established in New York.
  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html
 

---In 1870 Rockefeller organized the Standard Oil Company of Ohio, with a capital stock of $1,000,000. The company issued 10,000 shares,  at $100 each, which were held by Rockefeller, his brother William, and other associates.

To secure economy of operation and avoid wasteful competition, Rockefeller conceived a plan which he called "co-operation and conservation." He believed that under one leadership many industries could be combined, and the less economical ones eliminated. John D. Rockefeller thought that oil should be kept off the market at times of oversupply,  to stabilize prices.

-----------------------------------------------------------------------------------------------------------

 NEW In 1870  Rockefeller set up Standard Oil Company of Ohio.   http://colfa.utsa.edu/users/jreynolds/Textbooks/Rockefeller/Rockefeller%20Zinn.htm

NEW  In 1870, Drexel, Harjes & Co. developed a relationship with Pierpont’s father, Junius Morgan, when it assisted with the transfer of funds for Junius’ $50 million loan to the French government during the Franco-Prussian War. One year later, Anthony Drexel and Pierpont Morgan would establish a merchant bank in New York called Drexel, Morgan & Co., later renamed J.P. Morgan & Co. https://www.jpmorganchase.com/news-stories/house-of-finance-in-historic-place-vendome

 

 

1871

 

February 21, 1871 Congress Passes an Act to Provide a Government for the District of Columbia
, also known as the Act of 1871* With no constitutional authority to do so, Congress creates a
separate form of government for the District of Columbia, a ten mile square parcel of land (see,
Acts of the Forty-first Congress," Section 34, Session III, chapters 61 and 62).

The act -- passed when the country was weakened and financially depleted in the aftermath of the
Civil War -- was a strategic move by foreign interests (international bankers) who were intent upon
gaining a stranglehold on the coffers and neck of America.

Congress cut a deal with the international bankers (specifically Rothschilds of London) to incur
a DEBT to said bankers. Because the bankers were not about to lend money to a floundering nation
without serious stipulations, they devised a way to get their foot in the door of the United States.

The Act of 1871 formed a corporation called THE UNITED STATES.

The corporation, OWNED by foreign interests, moved in and shoved the original Constitution into a
dustbin. With the Act of 1871, the original Constitution for the united States (1788) was
defaced in effect vandalized and sabotage when the title was capitalized and the word "for" was
changed to "of" in the title THE CONSTITUTION OF THE UNITED STATES OF AMERICA

https://foundationfortruthinlaw.org/Files/United-States-is-a-corporation.pdf

The Constitution of the United States: A Transcription

Note: The following text is a transcription of the Constitution as it was inscribed by Jacob Shallus on parchment (the document on display in the Rotunda at the National Archives Museum.) The spelling and punctuation reflect the original.

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America
.
https://www.archives.gov/founding-docs/constitution-transcript

Code of the District of Columbia
Subchapter I. District of Columbia Establishment.

 1101. Territorial area.
 1102. District created body corporate for municipal purposes.
 1103. Officers of corporation.
 1104. District as successor corporation.
 1105. Former corporation continued for certain purposes.
 1106. Records of former corporations and of levy court made property of District of Columbia.
https://code.dccouncil.us/us/dc/council/code/titles/1/chapters/1/subchapters/I/

https://foundationfortruthinlaw.org/Files/United-States-is-a-corporation.pdf

UNITED STATES is a Corporation - There are Two Constitutions - Sovereignty

The increasing political control of wealth was pointed out as early as 1871 by Henry Ward Beecher when he stated that "We are in more danger from overgrown pecuniary interests [that is, from organized money] than we ever were from slavery." He also said that the battle of the future " will be one of gold and silver." [The Development of America, by Fremont P.Wirth, Professor of History, George Peabody College for Teachers, Nashville, Tennessee, copyright 1936,1937,1938,1939,1940,1941,1942,1943,1944,1945,1946,1947,1948 ,page 428]

J. Pierpont Morgan and Philadelphia banker Anthony Drexel form a private merchant banking partnership in New York called Drexel, Morgan & Co. This is the earliest partnership that evolves into J.P. Morgan.  https://www.jpmorgan.com/pages/company-history

1872

 Third National Bank and Trust Company of Scranton  Established: April 15, 1872

1872: Deutsche Bank is represented in New York with a limited partner's holding of $ 500,000 in Knoblauch & Lichtenstein. https://www.db.com/usa/content/en/Chronicles.html

In 1872 Deutsche Bank sets up its business in the United States of America.  https://www.db.com/us/content/en/history.html

 

-In 1872, Alpheus Branch and Thomas Jefferson Hadley, private bankers, created Branch and Hadley.  http://bbt.mediaroom.com/index.php?s=22728

1873

1873: The Scottish American Investment Trust, a Robert Fleming & Co. predecessor firm, is formed. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

Salmon Chase died at the the age of 65 in 1873 and the Chase Manhattan Bank (now a part of JPMorgan Chase) was named in his honor.  http://www.philstockworld.com/tag/10000-bill/ 
 

1873: The Scottish American Investment Trust, a Robert Fleming & Co. predecessor firm, is formed.  https://www.jpmorgan.com/GB/en/about-us

J.P. Morgan’s leadership in the United Kingdom extends back to the middle of the nineteenth century. J. Pierpont Morgan’s father, Junius, was in the merchant banking business in London from 1854 until his death in 1890.

In 1873, the Scottish American Investment Trust, a predecessor firm (Robert Fleming & Co. was sold to Chase Manhattan in 2000) was formed.

In 1887, Jarvis-Conklin Mortgage Trust Company opened in London and through a series of mergers and reorganizations, this firm became part of the Chase Manhattan Bank. http://https://www.jpmorgan.com/GB/en/about-us

1875

1875: Bankers Band Together
While walking down the street in St. Louis, Mo., bankers James Howenstein and Edward Breck notice a women?s suffrage meeting and decide that bankers, too, should band together. Howenstein corresponds with bankers across the country. In July of that year, 349 bankers from 31 states and the District of Columbia meet in Saratoga Springs, N.Y., to form the American Bankers Association. https://www.aba.com/about-us/our-story/aba-history/1850-1899

1875- Roslyn Savings Bank- Established in 1875, The Roslyn Savings Bank was the first financial institution to be headquartered in  Nassau County, New York. https://www.mynycb.com/Community/Pages/Foundations.aspx

1875- Dechert's  forerunner, MacVeagh & Bispham, was established in Philadelphia in 1875 when Wayne MacVeagh and George Tucker Bispham joined forces.https://www.dechert.com/about/history.html
 

 1876

1876  Paradeplatz
After a construction period of three years, SKA moves into the new building on Paradeplatz, which was designed by the famous architect Jakob Friedrich Wanner, on September 25, 1876.
  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1876-Dechert?s history is both long and impressive.
The firm's forerunner, MacVeagh & Bispham, was established in Philadelphia in 1875 when Wayne MacVeagh and George Tucker Bispham joined forces.

MacVeagh, a Yale University graduate admitted to the bar following a law firm apprenticeship, brought to the partnership a distinguished record of public service, including experience as district attorney of Chester County, Pa.; infantry captain and major in the cavalry for the Union army during the Civil War; and a U.S. ambassadorship to Turkey. As a firm partner, he maintained an ambitious roster of outside activities, heading the commission that led to the resolution of the 1876 Hayes-Tilden presidential election dispute and briefly serving as President James Garfield's attorney general. MacVeagh's partner, Bispham, was a graduate of the  https://www.dechert.com/about/history.html

1877

1877 us house members

Rutherford B. Hayes

NEW The popular vote apparently was 4,300,000 for Tilden to 4,036,000 for Hayes. Hayes?s election depended upon contested electoral votes in Louisiana, South Carolina, and Florida. If all the disputed electoral votes went to Hayes, he would win; a single one would elect Tilden.

Months of uncertainty followed. In January 1877 Congress established an Electoral Commission to decide the dispute. The commission, made up of eight Republicans and seven Democrats, determined all the contests in favor of Hayes by eight to seven. The final electoral vote: 185 to 184.  https://www.whitehouse.gov/about-the-white-house/presidents/rutherford-b-hayes/

Chase National Bank was formed in 1877 by John Thompson. The Chase National Bank acquired a number of smaller banks in the 1920s, through its Chase Securities Corporation. In 1926, for instance, it acquired Mechanics and Metals National Bank. In 1955, Chase National Bank and The Manhattan Company merged to create Chase Manhattan Bank. http://finance.mapsofworld.com/banks/chase-bank.html

Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company's principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii.

 

1879

NEW

DEFENDANT

8. UBS Warburg is principally owned by UBS AG, an entity formed through the June 1998 merger of Union Bank of Switzerland with Swiss Bank Corporation. UBS Warburg is engaged in the business of global investment banking and securities. It also provides services on a worldwide basis, including investment banking, securities trading and principal investments, and asset management. The principal office of UBS Warburg is located at 677 Washington Boulevard, in Stamford, Connecticut.

9. PaineWebber Inc. ("PaineWebber"), founded in 1879, was a full-service securities firm located in New York. The services provided by PaineWebber, on a global basis, included investment banking, research, trading, investing on a principal basis, and asset management. On November 3, 2000, UBS AG purchased PaineWebber and PaineWebber became known as UBS PaineWebber. UBS PaineWebber is indirectly owned by UBS AG. As part of the merger, PaineWebber banking and research activities were shifted to UBS Warburg LLC, and some investment bankers and research analysts previously employed by PaineWebber became employees of UBS Warburg LLC. Since the merger, UBS PaineWebber is principally engaged in the business of servicing retail investors and no longer employs equity investment bankers or research analysts. UBS PaineWebber's principal office is located at 1285 Avenue of the Americas, New York, New York. (For purposes of this Complaint, PaineWebber, UBS PaineWebber and UBS Warburg LLC will be collectively referred to as Defendant, except in circumstances where PaineWebber, UBS PaineWebber or UBS Warburg LLC are specifically referenced.)

10. UBS AG has offices in over 50 countries, employing approximately 69,500 people, 35,000 of whom work for UBS PaineWebber or UBS Warburg. UBS Warburg has 90 stock exchange memberships in 30 countries and the firm's 500 equity research analysts cover about 3,300 companies world-wide. Defendant is a member of the NASD and NYSE.

11. UBS Warburg and UBS PaineWebber are registered with the Securities and Exchange Commission, the NASD, the NYSE, and with all 50 states, the District of Columbia and Puerto Rico.  https://www.sec.gov/litigation/complaints/comp18112.htm

 

1879: The First Woman Bank President
Miriam Carson Williams becomes the first recorded female bank president, leading the State National Bank of Raleigh, N.C. https://www.aba.com/about-us/our-story/aba-history/1850-1899

 

1880

 

U.S. Trust serves as Corporate Trustee for the Panama Canal.  http://www.ustrust.com/ust/pages/about-us.aspx
 

1880: Foreign Banks Arrive in America -The first foreign bank branch?an office of the Hong Kong and Shanghai Banking Corporation, today HSBC is licensed by New York state. https://www.aba.com/about-us/our-story/aba-history/1850-1899

1881

1881- President James Garfield, Staunch Proponent of ?Honest Money? Backed by Gold and Silver, was Assassinated

Garfield opposed fiat currency (money that was not backed by any physical object) and was a strong advocate of a bi-metal monetary system. He had the second shortest Presidency in history.
http://www.thrivemovement.com/banking-history-timeline-follow-money
 

Nelson Aldrich of Rhode Island rose from the position of grocery clerk to become one of the most powerful senators of his era. Elected to the Senate in 1881, he chaired the Committee on Finance from 1898 to 1911, becoming an influential expert on the economy.

He sponsored the Aldrich-Vreeland Act which established the National Monetary Commission. His Aldrich Plan, providing for flexible cash reserves, was the forerunner of the Federal Reserve System.

Although Aldrich rarely spoke on the Senate floor, preferring the more casual atmosphere of the committee room, by the turn of the 20th century he became the leading figure in the Republican caucus and was one of the Senate Four, a powerful group of Republican senators who dominated the institution for a decade.

President Theodore Roosevelt referred to him as the King Pin of the Republican Party. Aldrich ?did not bother with oratorical display, wrote one historian, but relied upon his charm, his commanding appearance, his superior mind, his ability to speak forthrightly, and his exceptional memory to influence Senate action. Patriarch to a political family, Aldrich's grandson, Nelson Rockefeller, became vice president and his great-grandson, Jay Rockefeller, became a U.S. senator.
http://www.senate.gov/artandhistory/history/common/generic/Featured_Bio_Aldrich.htm

1882

 When patriarch  [Thomas] Mellon retires in 1882, his sons Andrew and Richard are there to take over the family business [T. Mellon& Sons Bank]. https://www.bnymellon.com/us/en/timeline.jsp

1883

  Second National Bank Established: July 03, 1883

 1883: Deutsche Bank acquires a substantial holding in Northern Pacific Railroad Company.
   
https://www.db.com/usa/content/en/Chronicles.html

 

1885


 

Jekyll Island Club

 Jekyll Island Club  was incorporated on December 9, 1885. Members include  such famous names as Henry Hyde, Marshall Field, John Pierpont Morgan, Joseph Pulitzer,William K. Vanderbilt, and Nelson W. Aldrich .Later it will include  John D. Rockefeller (Standard Oil).

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The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a price-weighted measurement stock market index of 30 prominent companies listed on stock exchanges in the United States. Wikipedia
Exchanges: New York Stock Exchange; NASDAQ
Market cap: US$10.84 trillion; (as of July 30, 2021)
Constituents: 30
Trading symbol: ^DJI; $INDU.DJI; DJIA
Weighting method: Price-weighted index
Operator: S&P Dow Jones Indices
Foundation: February 16, 1885; 136 years ago (as DJA); May 26, 1896 (as DJIA)

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About Dow Jones & Company Dow Jones & Company
In addition to The Wall Street Journal and its international and online editions, Dow Jones & Company (NYSE: DJ; www.dowjones.com) publishes Barron?s and the Far Eastern Economic Review, Dow Jones Newswires, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S. The Wall Street Journal Online network of sites includes the Online Journal at WSJ.com, the world?s largest subscription news site, with 701,000 subscribers, MarketWatch.com and its licensing operations, Barron?s Online, CareerJournal.com, CollegeJournal.com, RealEstateJournal.com, StartUpJournal.com and OpinionJournal.com.
https://www.sec.gov/Archives/edgar/data/29924/000002992405000030/exhibit991.htm

1886

The Jekyll Island Club Hotel was originally built in 1886 as a hunting retreat for America's wealthy elite including J.P. Morgan, William Rockefeller, Joseph Pulitzer, as well as the Vanderbilts, Goulds and Astors.

Richmond County Savings Bank- A member of the NYCB Family of Banks since July 2001, Richmond County Savings Bank has been serving those who live and work on Staten Island since October 30, 1886. The Bank made its first home mortgage loan on March 4, 1887.  https://www.mynycb.com/Community/Pages/Foundations.aspx

1887

1887: Jarvis Conklin Mortgage & Trust Company, a predecessor firm, opens in London.  https://www.jpmorgan.com/GB/en/about-us

 

The Bank of Charleston become a Federal Depository.
http://www.nps.gov/nr/travel/charleston/sbc.htm

1887: Jarvis Conklin Mortgage & Trust Company, a predecessor firm, opens in London  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

 In 1887, Branch bought Hadley?s interest in the bank for $81,000 and changed its name to Branch and Company, Bankers.    http://bbt.mediaroom.com/index.php?s=22728

 new  J.P. Morgan’s leadership in the United Kingdom extends back to the middle of the nineteenth century. J. Pierpont Morgan’s father, Junius, was in the merchant banking business in London from 1854 until his death in 1890.

In 1873, the Scottish American Investment Trust, a predecessor firm (Robert Fleming & Co. was sold to Chase Manhattan in 2000) was formed.

In 1887, Jarvis-Conklin Mortgage Trust Company opened in London and through a series of mergers and reorganizations, this firm became part of the Chase Manhattan Bank.  https://www.jpmorgan.com/GB/en/about-us

 

1888

In 1888 the Republican party declared itself in opposition to "combinations of capital,  organized as trusts or otherwise, " and the Democratic party platform said, " the interests of the people are betrayed when trusts and combinations are permitted to exist." [The Development of America,+Wirth, page 434]

1889

President Harrison, in his message of December, 1889, pointed out that trusts in the nature of conspiracies should be made a subject of study by Congress; and on July 2, 1890, Congress, under the authority given it by the interstate commerce clause of the Constitution, enacted the Sherman Antitrust Law.  By provisions of this law combinations and conspiracies" in restraint of trade or commerce among the several States, or with foreign nations," are declared illegal and punishable by fine or imprisonment. [The Development of America ,Wirth, page 434]

In 1889, the state of New Jersey passed a law legalizing holding companies by permitting them to incorporate in that state.  Many of the companies then changed their form and moved their home offices to New Jersey.[The Development of America ,Wirth, page 434]

 In 1889, Branch, his father-in-law Gen. Barnes, Hadley, J.F. Bruton, R.L. Thompson and Walter Brodie secured a charter from the North Carolina Legislature to operate the Wilson Banking and Trust Company (later amended to the State Bank of Wilson and later to The Branch Banking Company). However, the charter was not implemented until 1900.   http://bbt.mediaroom.com/index.php?s=22728

1890

Sherman Antitrust Act 1890

NEW  We have been doing business in Turkey since 1890, when we participated in several loans to the Turkish government and invested in industrial developments. Based in Istanbul, we offer services and products across investment banking, treasury services and investor services, all part of our corporate and investment bank business.

J.P. Morgan has operated in Europe for nearly 200 years and has a sophisticated local market presence across Europe, the Middle East and Africa (EMEA). Within the region, J.P. Morgan has an unparalleled client base and leadership across the spectrum of financial services products. The regional head office in London is complemented by a strong regional footprint, with offices in all major financial centers. https://www.jpmorgan.com/TR/en/about-us

NEW  About 1890 John D. Rockefeller and other Standard oil men acquired control of the National City Bank in New York and increased its capital stock until at last it was $25,000,000, only$10,000,000 less than that of the bank which Jackson destroyed in 1836.  Than began a seriesof extentions.  Sometimes another bank was bought outright, sometimes it merged withthe National City Bank, and sometimes it was merely controlled byhavingthe majority of its stock come into the hands of persons prominent in the affairs of that institution. About fifty powerful banks in various cities are said to have been drawn into this circle.  The dozen of these in New York are organized in two groups, orchains,containing, besides banks, trust companies and insurance companies.   The two chains had in 1903 a combined capital of $108,000,000, and combined deposits of $474,000,000.    Side by side with it grew up another great system headed by J.P. Morgan and Company, including three chains with capital in  1903 of $97,000,000 and deposits of $472,000,000.  The two systems controlled $205,000,000 of the $451,000,000 of banking capital in the  New York City ...
SOURCE: A SHORT HISTORY OF THE UNITED STATES  1492-1938, By John Spencer Bassett,Ph. D.,  Late  Professor of American History, in Smith College, published 1939, page 740.    
To be continued..... SEE  YEAR 1912

1890  Leading Position
From the end of the 19th century, SKA plays a leading role in the Swiss underwriting and syndication business. It has the opportunity more often than the competition to be the key player in underwriting syndicates.   https://www.cr edit-suisse.com/us/en/about-us/who-we-are/history/milestones.html 

1890: J. Pierpont Morgan becomes senior partner of J.S. Morgan & Co. in London.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

By 1890 the House of Morgan was lending to Egypts central bank, financing Russian railroads, floating Brazilian provincial government bonds and funding Argentine public works projects. A recession in 1893 enhanced Morgan?s power. That year Morgan saved the US government from a bank panic, forming a syndicate to prop up government reserves with a shipment of $62 million worth of Rothschild gold. [7]  https://www.globalresearch.ca/the-federal-reserve-cartel-the-eight-families/25080

We have been doing business in Turkey since 1890, when we participated in several loans to the Turkish government and invested in industrial developments. Based in Istanbul, we offer services and products across investment banking, treasury services and investor services, all part of our corporate and investment bank business. https://www.jpmorgan.com/TR/en/about-us

In 1900, Branch and Company, Bankers, was sold to Branch Banking and Company, holder of the state charter. http://bbt.mediaroom.com/index.php?s=22728

 1890: J. Pierpont Morgan becomes senior partner of J.S. Morgan & Co. in London.   https://www.jpmorgan.com/GB/en/about-us

1891

The state of Ohio brought suit against the Standard Oil Company, and the court decided, in 1882, that the act of incorporation was illegal in that state. A similar suit was brought against the Standard Oil Company in the state of New York.   Because of state and Federal laws against the trusts, the Standard Oil Trust was dissolved in 1892.

Many trusts and large corporations----often called "big business"---found it necessary to reorganize and to conform to law.   Combinations, however, did not cease to exist; they merely changed their form.   They obeyed the letter but not the spirit of the law.    In place of trusts, big businesses now became organized as holding companies. [page 434]

1892

1968 World Book Encyclopedia [G], page 83:

 1892: Guaranty Trust (a predecessor firm) opens a representative office, mostly for correspondent banking. It becomes a full service branch in 1897  https://www.jpmorgan.com/GB/en/about-us

1892: Guaranty Trust (a predecessor firm) opens a representative office, mostly for correspondent banking. It becomes a full service branch in 1897.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history


Roachdale Bank & Trust Company opened for business on October 7, 1892, in Roachdale, Indiana. During the Great Depression of the 1930's, Roachdale Bank was closed only one day. On December 16, 1931, two men, armed with machine guns and sawed-off shotguns, blew the safe of the Roachdale Bank and escaped with $4,500 in currency and bonds. All of the glass was blown out of the front windows and furniture was torn and splintered. The damage was estimated at $1,000. http://www.tricountybank.net/aboutus.html
 

1893

  1893: After the collapse of Pacific Railroad Company Deutsche Bank sets up a reorganization committee. https://www.db.com/usa/content/en/Chronicles.html

  Alpheus Branch died Jan. 3, 1893.  http://bbt.mediaroom.com/index.php?s=22728

 J.P. Morgan is primary financier of U.S. railroads.  https://www.jpmorgan.com/pages/company-history

It was in 1893 that Peter Cushman Jones, a 60-year-old businessman, persuaded close friends Joseph Ballard Atherton and Charles Montague Cooke to join him in organizing a new bank in the Islands.  https://www.boh.com/sites/about-us/history.asp

1894

Citibank became in 1894 the largest bank in the United States, so that, in 1902, it already had branches in Asia. https://dq3l6ltyfpioeory66fd666bcy-jj2cvlaia66be-www-citibank-com.translate.goog/icg/sa/emea/romania/romanian/about-us.html     NEW

1894: Pinkertons on the Case
ABA hires the nationally renowned Pinkerton National Detective Agency to keep track of professional criminals and forewarn members of their movements. Pinkerton distributes a rogue's gallery album of portraits and descriptions to members. Between 1894 and 1898, ABA membership almost doubles to 3,350 as banks join to be under the protection of ABA. The Pinkerton Agency continues under contract to ABA until 1909. https://www.aba.com/about-us/our-story/aba-history/1850-1899

1895

J. Pierpont Morgan, Sr. becomes senior partner. The New York firm is renamed J.P. Morgan & Co.  https://www.jpmorgan.com/pages/company-history

Roosevelt Savings Bank was established in 1895 on the corner of Gates Avenue and Broadway in Brooklyn, under the name "Eastern District Savings Bank." In 1920, the name was changed to honor the memory of the nation's 26th president, Theodore Roosevelt.  https://www.mynycb.com/Community/Pages/Foundations.aspx


NEW    1895: J.P. Morgan & Co. succeeds to a 100% interest in Drexel Harjes & Co. of Paris and changes the name to Morgan Harjes & Co.  J. Pierpont Morgan is now senior partner of the firm.1870: Junius Morgan, J. Pierpont Morgan’s father and senior partner of J.S. Morgan & Co. in London, sponsors a FF250 million loan for the French government during the Franco-Prussian War.  This catapults J.S. Morgan & Co. into the ranks of the world’s preeminent private banks.
https://www.jpmorgan.com/FR/en/about-us

NEW   In 1895, two years after Drexel’s death, J.P. Morgan & Co. assumed full control of Drexel, Harjes in Paris and renamed the firm Morgan Harjes & Co., with Pierpont Morgan as its senior partner. As the firm approaches 150 years in Paris, J.P. Morgan stands as one of the longest continuously operating American banks in the country. https://www.jpmorganchase.com/news-stories/house-of-finance-in-historic-place-vendome

 

1896

By 1896 the Northern Pacific has been restructured. https://www.db.com/usa/content/en/Chronicles.html

Barclays formed through a merger of 20 banks                       

http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
    

1897

1897: Gage Leads the Treasury
Former ABA President Lyman Gage is appointed secretary of the Treasury by President William McKinley, serving until 1902. https://www.aba.com/about-us/our-story/aba-history/1850-1899

Morgan Guaranty Trust Company of New York
FDIC Certificate #: 637
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: JPMorgan Chase Bank, National Association (#628)
Federal Reserve ID: 161415
Date Established: January 01, 1897
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Interstate: No)
FDIC's unique #: 418
Numeric code: 13
Regulator: FED

 
http://www.bankencyclopedia.com/Morgan-Guaranty-Trust-Company-of-New-York-637-New-York-City-New-York.html#ixzz3R0B4NAg7

1897  Pension Funds
In 1897 the Board of Directors of the SKA creates a pension fund, which provides its employees with benefits after their retirement. In 1919 the SKA creates a pension fund in the form of a cooperative.  

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1897: Bank of Hawaii is the first chartered and incorporated bank to do business in the Republic of Hawaii on December 27. The charter is issued by James A. King, Minister of the Interior of the Republic of Hawaii, and signed by Sanford Ballard Dole, president of the Republic. https://www.boh.com/sites/about-us/history.asp

1897: With Peter Cushman Jones serving as Bank of Hawaii's first president, the bank opens for business with $400,000 in capital with its stock at par value of $100. https://www.boh.com/sites/about-us/history.asp

 1897: NCB [National City Bank] becomes the first major U.S. bank to open a foreign department.  https://www.company-histories.com/Citigroup-Inc-Company-History.html

1900

1900-1919
The Early 1900s
Early Airplane

Entrepreneurs want to expand and buy other companies, creating new lending opportunities for New York bankers. The most powerful and wealthy of these entrepreneurs are called Robber Barons.

Interstate banking and branching is restricted (this is referred to as unit banking), but some states begin to allow branching at a state level.
1900

    Checks become a more common means of payment.
    Ownership of capital stock increases as common people become more affluent, have surplus capital, and have access to the stock market.

The Gold Standard Act of 1900

This act stabilizes the economy, establishes gold as the only standard for redeeming paper money, and prohibits the exchange of silver for gold.
The Panic of 1901
First National City Bank (Citibank), led by James Stillman and William Rockefeller, with Standard Oil money, buys $115 million of Northern Pacific Railroad's stock and triggers a stock market panic. Thousands of small investors are wiped out.
1901

    Theodore Roosevelt becomes president and continues former President William McKinley's trust-busting efforts.
    John Pierpont Morgan creates U.S. Steel, the first billion-dollar corporation. U.S. Steel is a giant integrated steel trust. Capitalized with $1.4 billion at a time when the capitalization of all American manufacturing is $9 billion, U.S. Steel elevates both Wall Street and U.S. industry to a new plateau. When it comes time for J.P. Morgan to sell U.S. Steel, approximately 300 underwriters dispose of the securities.

1902

President Theodore Roosevelt announces an antitrust suit against J.P. Morgan's railroad holding company.J.P. Morgan cartoon
1904

The Bank of Italy is chartered in California. In 1927, the bank is renamed Bank of America of California.
1905

There are 9,018 state banks and 5,664 national banks.
1906

The stock market experiences a speculative boom.
The Early 1900s
Robber Barons
J.P. Morgan  J.P. Morgan (1837-1913)
John D. Rockefeller  John D. Rockefeller (1837-1937)
Andrew Carnegie  Andrew Carnegie (1835-1919)

Between 1907 and 1917, eight states adopt an insurance plan for bank obligations.

The term robber baron was revived in the 19th century in the U.S. as a pejorative term describing businessman who allegedly used unscrupulous tactics in their business operations and on the stock market to amass huge personal fortunes.Many of their massive businesses controlled a large majority of all activity in the respective industry, often arrived at through predatory pricing schemes that are now illegal.

Some of the most notable robber barons were J.P. Morgan (banking), John D. Rockefeller (oil), and Andrew Carnegie (steel).

The Panic of 1907

The panic is brief but significant in its financial implications. In March 1907, the New York Stock Exchange goes into drastic decline. The subsequent public panic leads to runs on banks. These runs lead to large-scale liquidations of call loans, or loans used to finance stock market purchases. As a result, thousands of businesses fail.

The panic exposes weaknesses in the financial system, particularly the inability of banks to acquire currency during emergencies.

Depositors "run" on the Knickerbocker Bank. J.P. Morgan and James Stillman of First National City Bank (Citibank) act as a "central bank," providing liquidity to the Knickerbocker Bank. Their efforts stop the run.

President Theodore Roosevelt provides Morgan with $25 million in government funds to use to control the panic. Morgan, acting as a one-man central bank, decides which firms will fail and which firms will survive. He organizes a rescue of banks and trusts, averting a shutdown of the New York Stock Exchange, and engineers a financial bailout of New York City.

Morgan is a strong adherent of a central bank like the Bank of England, which is controlled by private bankers. European bankers, who had lent money to the U.S., back away from that role.
1909

    President William Taft begins trust-busting proceedings, carrying on with the intent of Presidents William McKinley and Theodore Roosevelt.
    Taft establishes the National Monetary Commission. The commission's goal is to propose a banking reform plan. None of the commission's proposals make it to the floor of Congress. The report is comprehensive. Congress takes years to study its proposals for a central bank and other banking issues.
    Moody's Investors Service provides its first credit rating on railroad bonds.

U.S. Presidents
from the 1900 to 1919
Theodore Roosevelt  Theodore Roosevelt (1901-1909)
William Taft  William Taft (1909-1913)
Woodrow Wilson  Woodrow Wilson (1913-1921)
1910

Sears and Roebuck offers lines of credit.
1911

    The Supreme Court rules that Standard Oil, which has 64 percent market share, is a monopoly and orders it to be broken up, resulting in the creation of 37 new companies.
    Congressman Arsène Pujo, Chairman of the House Committee on Banking and Currency, investigates the influence of money trusts over U.S. finance and commerce. The hearings reveal the scope of control exerted by J.P. Morgan and First National City Bank (Citibank). With 341 directorships on 112 companies, these companies controlled $22 billion in resources.
    25,000 commercial banks are operating in the U.S.

The Federal Reserve Act of 1913

This act passes in an attempt to bring stability to financial markets after the Panic of 1907 exposes weakness in an uncontrolled system.

This act:

    Establishes the Federal Reserve System, commonly known as the Fed, as the central bank—the nation's third central bank. The bank has a 20-year charter.(The McFadden Act of 1927 gives the FRB permanence.) Federal Reserve seal
    Gives the Fed authority to regulate and supervise state-member banks
    Allows state-member banks and national banks to borrow money from FRB when they are experiencing liquidity problems
    Allows national banks to open branches overseas
    Moderately expands national banking powers by permitting real estate loans, time and savings deposits, trust services, and foreign branches.

1913

Congressman Carter Glass sponsors legislation to create a central bank.
World War I: 1914-1918
Congressman Carter Glass

World War I is a major stimulus to the U.S. economy. The economy booms between 1914 and 1918. The financial havoc reigning in Europe presents U.S. banks with new demands for services. The U.S. economy is the largest in the world in terms of GNP. The financial center of the world shifts from London to Wall Street. After the war, the economy flourishes.
1915

There are 18,227 state banks and 7,598 national banks.
1919

First National City Bank (Citibank) has $1 billion in assets.     https://www.fdic.gov/about/history/timeline/1900-1919.html

The 1920's
The Roaring '20s

    Woman from the 1920s
    With their newfound wealth, people buy in record numbers everything from houses to cars to appliances.
    Assembly lines increase production.
    Department stores give credit cards to their wealthier customers. Metal charge-plates are introduced. Oil companies offer courtesy cards for charging gas.
    Banks offer installment loans, mortgages, and loans to stock market speculators on 90 percent margins.
    There are no insider-trading laws.
    Factory
    The dramatic expansion in the financial sector introduces new corporate securities issues, especially in common and preferred stock. The stock market undergoes an extraordinary, unprecedented expansion and is caught in a speculative euphoria between 1925 and 1929.
    About 10 percent of U.S. households own stock. Today, about 50 percent own stock, largely because of 401(k)s.
    Wealthy Americans look for ways and means to invest their surplus funds.
    The middle class considers retail brokerage houses and securities affiliates of commercial banks safe investments.
    Stock Certificate
    Banks unveil new securities affiliates with names almost identical to their own to wipe away the distinction between saving and speculating.
    First National City Bank (Citibank) and its stock subsidiary, the National City Company, have 2,000 brokers selling stocks.
    National City Company repackages bad Latin American loans from its affiliated bank and sells them to unknowing investors as new securities. This is one of the deals that initiate the Glass-Steagall Act of 1933.
    Banks speculate on land development.
    The financial environment of the Roaring '20s creates new financial products. First National City Bank (Citibank) creates instruments that include the unit trust (known today as the mutual fund) and compound-interest savings accounts.

The McFadden Act of 1927

This act:

    Establishes the Federal Reserve Board (FRB) as a permanent central bank
    Prohibits interstate banking. This prohibition is not repealed until 1994
    Authorizes hometown branches for national banks, if allowed by the state. This authorization helps to put national banks on par with state banks. National banks still cannot branch outside of the city in which they are headquartered
    Gives national banks the authority to buy and sell marketable debt obligations.

1929

There are 17,583 state banks and 8,150 national banks.

Black Tuesday: Stock Market Crash of 1929
October 29, 1929
Black Tuesday

    The crash of the U.S. stock market heralds the beginning of the Great Depression. The Federal Reserve keeps money tight. The Dow drops 25 percent in two days and 30 percent in one week. Public confidence in government and business plummets.
    President Herbert Hoover tells Congress the worst effects of the crash are over.

Important Dates Leading Up To and Following the Crash of 1929

    Chart showing the Dow drop
    August 24, 1921: The Dow begins its post-war boom at 63.90 points.
    August 22, 1922: The Dow tops 100 for the first time, closing the day at 100.75.
    Between 1922 and 1929, the Dow rises 400 percent.
    September 3, 1929: The Dow hits its pre-crash high, closing at 381.17.
    October 24, 1929 (Black Thursday): The crash begins. A record-breaking 13 million shares are traded, indicating panic. That afternoon, 5 banks pony up about $20 million each to buy stock and restore confidence in the market. It seems to work. There's a late rally, and the Dow closes at 299.47.
    October 25, 1929: The rally continues, and the Dow closes at 301.22
    October 28, 1929 (Black Monday): The rally ends. Panic selling resumes. The Dow drops almost 40 points (nearly 13 percent) to close 260.64.
    October 29, 1929 (Black Tuesday): The Dow drops another 30 points
    (nearly 12 percent) to close at 230.07 on trading of 16 million shares.
    July 8, 1932: The Dow closes at 41.22, an 89 percent drop from its pre-crash high.
    November 23, 1954: 25 years after the crash, the Dow reaches its pre-crash high again,closing at 382.74.   https://www.fdic.gov/about/history/timeline/1920s.html

The 1930's
The Great Depression: 1929-1939

    Great Depression scene
    The Great Depression, a worldwide economic downturn, hits the U.S. in 1929 and lasts until about 1939. It is the longest and most severe depression experienced by the U.S. Its social and cultural effects are staggering. Many banks fail, many because they have made loans to stock market speculators that are never repaid.

    As the Depression eases into a national emergency, reaching its height between 1932 and 1933, the U.S. government establishes several agencies as a means for discharging new and emergency functions. The FDIC is one of these agencies.

    Other effects include the following: Industrial production declines 47 percent, GDP falls 30 percent, wholesale price index declines (deflation) 33 percent, unemployment exceeds 20 percent.

    In many ways, our lives are still governed by legislation spawned by the crash and the Depression.
    President Franklin D. Roosevelt initiates a legislative agenda, known as the New Deal, for rescuing the U.S. from the Great Depression. The major initiatives of the New Deal: stock market reform, aid to the unemployed, and strengthening the banking system.

Hawley-Smoot Tariff Act of 1930

This act steeply raises U.S. tariffs on imports. Foreign governments retaliate, which prevents free trade and lengthens the depression.
Reconstruction Finance Corporation (RFC) Act of 1932

This act is President Herbert Hoover's attempt to stimulate the economy. The act:

    Provides loans to banks, savings banks, building and loan associations, credit banks, industrial banks, mutual savings banks, and life insurance companies
    Makes loans to railroads, many of which cannot meet their bonded indebtedness payments.

Federal Home Loan Bank Act of 1932

This act:

    Establishes the Federal Home Loan Bank Board (FHLBB), which charters and supervises federal S&Ls
    Establishes the Federal Home Loan Banks (FHLBs)
    Gives the FHLBB authority to regulate and supervise S&Ls
    Gives FHLBs the authority to lend to S&Ls to finance home mortgages.

1932

    The height of the Depression: 1932 to 1933.
    The Senate Banking Committee opens an investigation into the abuses that triggered the Great Depression.
    The interest rate on U.S. Treasury bills goes negative because investors are willing to take a loss if they know that their money is safe.
    Unemployment is 25 percent.
    National income is 50 percent below that of 1929.
    Stock market is 75 percent below its 1929 high.
    Bank runs and closings are common.
    In the absence of money, barter becomes a form of exchange.

Franklin D. RooseveltOn July 2, 1932, Franklin D. Roosevelt accepts the Democratic nomination for president, offering "a new deal for the American people."
1933
New Deal mural

    Franklin D. Roosevelt becomes president.
    On March 6, 1933, President Franklin D. Roosevelt declares a banking holiday and temporarily closes all U.S. banks.
    Money supply is 40 percent lower than 1929.
    Approximately 4,000 commercial banks fail.
    1,700 S&Ls fail.
    Foreclosures clog banks and S&Ls with unsaleable assets.
    The FDIC examines nearly 8,000 state-chartered banks that are not members of the Federal Reserve Board (FRB).

Emergency Banking Act of 1933

This act, which President Roosevelt signs on March 9, 1933:

    Legalizes President Roosevelt's decision to declare a national banking holiday
    Permits the Office of the Comptroller of the Currency (OCC) to appoint a conservator with powers of receivership over all national banks threatened with suspension.

The Securities Act of 1933

This act requires strong disclosure statements of publicly held corporations, which deprives bankers of their monopoly on information.
U.S. Presidents
during the 1930s
Herbert Hoover  Herbert Hoover (1929-1933)
Franklin D. Roosevelt  Franklin D. Roosevelt (1933-1945)
The Banking Act of 1933

President Roosevelt signs this act on June 16, 1933, to raise the confidence of the U.S. public in the banking system by alleviating the disruptions caused by bank failures and bank runs.

From 1929 to 1933, bank failures resulted in losses to depositors of about $1.3 billion. Before the FDIC was in operation, large-scale cash demands of fearful depositors often struck the fatal blow to banks that might otherwise have survived.

Since the FDIC went into operation, bank runs no longer constitute a threat to the banking industry.

This act:

    Establishes the FDIC as a temporary government corporation
    Gives the FDIC authority to provide deposit insurance to banks
    FDIC Member seal
    Gives the FDIC the authority to regulate and supervise state nonmember banks
    Funds the FDIC with initial loans of $289 million through the U.S. Treasury and the FRB
    Extends federal oversight to all commercial banks for the first time
    Separates commercial and investment banking (Glass-Steagall Act)
    Prohibits banks from paying interest on checking accounts
    Allows national banks to branch statewide, if allowed by state law.

1934

    The FDIC deposit insurance goes into temporary effect on January 1, 1934. The deposit insurance level is $2,500.
    On July 1, 1934, the FDIC deposit insurance increases the coverage level to $5,000.
    The FDIC employs 3,476 people, most of whom are bank examiners.
    Nine FDIC-insured banks fail.
    Each state in the nation has an FDIC regional office.
    The prime rate emerges as the rate that banks use in lending to their biggest and best corporate customers. Demand for business loans is nil, and banks charge as little as one-third of 1 percent interest. Between 1934 and 1947, the prime rises to approximately 1.5 percent.
    The FDIC fund has a balance of $292 million.

Mrs. Lydia LobsigerOn July 5, 1934, Mrs. Lydia Lobsiger received the first federal deposit insurance disbursement, following the failure of the Fond Du Lac State Bank in East Peoria, Illinois.
The National Housing Act of 1934

This act creates the Federal Savings and Loan Insurance Corporation (FSLIC), which is administered by the Federal Home Loan Bank Board (FHLBB). FSLIC insures S&L deposits until 1989, when the FDIC assumes responsibility for the bankrupt fund as the Savings Association Insurance Fund (SAIF).
The Securities Exchange Act of 1934
This act:

    Creates the Securities and Exchange Commission (SEC)
    Requires any company whose securities are traded on national exchanges or over-the-counter to file registration applications and annual reports with the SEC that detail the economic health of the company.

1935

    There are 9,027 state banks and 4,692 national banks. The approximate number of banks remains consistent until the 1980s.
    26 FDIC-insured banks fail.

The Federal Credit Union Act of 1935

This act establishes federal credit unions.
The Banking Act of 1935

This act:

    Establishes the FDIC as a permanent agency of the government
    Provides for permanent deposit insurance and maintains it at the $5,000 level.

1936
Fort Knox

The U.S. stock of gold bullion is so imposing that the U.S. Treasury Department constructs an "impregnable" storage fortress to hold the metal at Fort Knox, Kentucky.
1937

    Cash and U.S. government securities make up 52 percent of banks' assets—more than double the proportion held in 1929.
    77 FDIC-insured banks fail.

Banking Regulatory Agencies
Regulatory
Agency     Year
Created     Created to
Regulate     Supervision/
Examination     Deposits
Insured by
State
Agencies     Varies State
to State     State Banks and
S&Ls     State Banks and
S&Ls     Varies State
to State
OCC     1864     National Banks     National Banks     FDIC
FRB     1913     National and
State-Member
Banks     State Member
Banks     FDIC
FHLBB     1932     S&Ls     S&Ls     FSLIC
from 1934
FDIC     1933     State Non-
Member Banks
and State-
Chartered Mutual
Savings Banks     State Non-
Member Banks
and State-
Chartered Mutual
Savings Banks     FDIC
NCUA     1935     National Credit
Unions     All Insured Credit
Unions     NCUSIF
OTS     1989     Federal Savings
Associations and
Mutual Banks     Federal S&Ls and
Mutual Banks     FDIC
Recession of 1937-1938

By 1936, believing the worst was over, President Roosevelt began cutting the spending and relief programs that had been set up as part of the New Deal to counter the Depression. As a result, the country slipped into another recession that lasted from 1937 until 1938.
1938

74 FDIC-insured banks with $69.5 million in assets fail.   https://www.fdic.gov/about/history/timeline/1930s.html

The 1940's
1940

The economy is on the upswing. Banks become more profitable. Most economists think that the Depression has ended.
World War II: 1941-1945
World War IIThe war has a dramatic effect on the U.S. economy. Between 1941 and 1945, federal spending totals more that $321 billion, twice as much as all federal spending from 1789 to 1941. The GNP grows by more than 75 percent between 1941 and 1945. The U.S. government becomes the leading sector of the economy.

1944

The Bretton Woods system of international economic management establishes the International Bank for Reconstruction and Development, later divided into the World Bank and Bank for International Settlements, and the International Monetary Fund. The system establishes rules for commerce and financial relations among the world's major industrial states.
1945
U.S. Presidents
during the 1940s
Harry S Truman  Harry S Truman (1945-1953)

    Total bank assets are double the $91 billion at the end of 1941.
    Large-scale war financing of the federal government is the primary factor contributing to the rise of banking assets.
    U.S. government securities account for 57 percent of total banking assets.
    Between 1942 and 1945, only 28 FDIC-insured banks fail.
    Victory in Europe Day: May 8.
    Victory over Japan: August 15.

1946

    Scene from It's A Wonderful Life
    Frank Capra directs the movie It's A Wonderful Life, a post-war tale of an S&L manager who struggles against a greedy banker and his own self-doubting nature.
    The FDIC insurance fund has a balance of more than $1 billion.
    Post-war economic and housing boom begins.

1948

    The FDIC repays the initial funding loans of $289 million to the U.S. Treasury and the Federal Reserve Board.
    President Harry Truman signs the Marshall Plan into law to reconstruct Europe following World War II. The U.S. contributes more than $13 billion of economic and technical assistance. This provides a boost to the U.S. economy because Europe purchases U.S. goods and services.

1949
Diner's Club card

Diner's Club is established, providing a universal, third-party credit card.

People begin carrying credit cards in their walletshttps://www.fdic.gov/about/history/timeline/1940s.html

The U.S. is absorbed with its apprehension of Soviet power, represented by a fear of its atomic power, space program, and espionage. The Korean War and the Cold War are intertwined. The build-up of the military industrial complex helps the U.S. economy. By the 1980s, 7 percent of the U.S. GNP is devoted to defense spending.
1950

    The FDIC deposit insurance coverage level increases from $5,000 to $10,000.
    The FDIC's insurance fund has a balance of $1.2 billion.

Ad from the 1950s featuring Gary Cooper"No pardner, this isn't where I work... It's where my money works for me. I know my savings are safe here, because wherever you see that insurance emblem displayed you know your savings are protected by an agency of the U.S. Government."

Ad from the 1950s featuring Gary Cooper
The Federal Deposit Insurance Act of 1950

This act:

    Revises and consolidates earlier FDIC legislation into one act
    Increases the insurance limit from $5,000 to $10,000
    Gives the FDIC the authority to lend to any insured bank in danger of closing, if the operation of the bank is essential to the local community
    Authorizes the FDIC to examine national and state-member banks to determine their insurance risk.

Bank Holding Company Act of 1956
U.S. Presidents
during the 1950s
Dwight D. Eisenhower  Dwight D. Eisenhower (1953-1961)

This act:

    Prohibits bank holding companies headquartered in one state from acquiring a bank in another state unless that other state's laws authorize the acquisition—thus leaving control of bank holding companies to the states. In 1975, Maine is the first state to allow entry of out-of-state bank holding companies
    Prohibits the expansion of bank holding companies into "non-banking" activities through affiliates.

1958

    Bank of America launches a credit card in California.In 1966, the bank licenses BankAmericard, and in 1976, it changes its name to Visa.
    American Express launches a national credit card.
    Chase Manhattan Bank issues a credit card but withdraws from the industry in 1962. https://www.fdic.gov/about/history/timeline/1950s.html

The 1960s

    Photo of moon landing
    Banks make term-loans in dollars to foreign governments and enterprises.
    U.S. banks lend to less-developed countries that have a need for capital.
    The U.S. has a trade deficit.
    Europe and Japan, ravaged by the war, start to recover, and their markets expand.
    U.S. banks create offshore funding centers to avoid taxes.
    Inflation rises.
    Most banks' bookkeeping systems are manual. Computer systems are rudimentary.
    President Lyndon B. Johnson increases government spending, which is tied to the Great Society Programs and the Vietnam War.
    The ATM's predecessor is installed into bank lobbies so that customers can pay utility bills without waiting in line for a teller.

1960

    Only five banks are listed on any stock exchange.
    The FDIC's insurance fund has a balance of more than $2 billion.
    The FDIC has about 3,000 employees: 2,500 bank examiners and 40 bank liquidators.
    Four FDIC-insured banks fail.

1966
U.S. Presidents
during the 1960s
John F. Kennedy  John F. Kennedy (1961-1963)
Lyndon B. Johnson  Lyndon B. Johnson (1963-1969)

    The FDIC deposit insurance limit increases to $15,000.
    Interest rates increase.
    The U.S. government borrows to cover war debt.
    The U.S. experiences economic growth because of the war economy.

1967

    Citibank creates a venture capital group with $5 million.
    The first automatic cash dispenser is installed in a Barclays Bank near London.
    Several U.S. banks license MasterCharge (MasterCard).

1968

    Hoping to control the trade deficit, President Johnson attempts to control imports to the U.S.
    Congress charters The Federal National Mortgage Association (Fannie Mae) to assist low-, moderate-, and middle-income families to buy homes.

1969

    ATM
    The FDIC deposit insurance limit increases from $15,000 to $20,000.
    ATMs are installed in New York's Chemical Bank; the installation marks the first use of magnetically encoded plastic.
    Wall Street processes about 20 million shares a day, with difficulty. Today, Wall Street processes several billion shares per day.   https://www.fdic.gov/about/history/timeline/1960s.html

The 1970s
Photo of cars waiting in line for gas

Rapidly rising oil prices create an inflationary spiral, which raises interest rates. Recession follows. The expensive Vietnam War ends. Automation takes hold.

Outstanding debt from less-developed countries increases from $29 billion to $327 billion during the decade.
1970

    Automated Clearing House Interbank Payment System, a private company, is created to clear checks.
    Congress charters the Federal Home Loan Mortgage Association (Freddie Mac) to provide capital to finance U.S. housing.

Bank Holding Company Amendments (BHCA) of 1970

The BHCA of 1956 left a large loophole with respect to non-bank activities. Growing political concern about the growth of conglomerate enterprises lead to these amendments.

The Bank Holding Company Amendments (BHCA) of 1970:

    Require Federal Reserve Board approval for the establishment of a bank holding company
    Liberalize non-bank activity restrictions.

1971

President Richard Nixon announces his "New Economic Policy" in an attempt to revive the economy and control inflation. This policy is a major shift from traditional economic policies. To increase demand for U.S. goods in foreign markets, President Nixon devalues the dollar and ends the gold convertibility of the dollar. This devaluation allows the dollar's price to float on world markets.

President Nixon imposes wage and price controls. He presents Congress with legislation to repeal tax on cars, to provide tax credits for business investments, and to reduce individual income tax.
1972

Inflation increases when President Richard Nixon lifts wage-and-price controls.
Photo at gas station with sign that says 'Sorry No Gasoline'
1973

The 1973 Middle East War occurs. Organization of Petroleum Exporting Countries (OPEC) increases oil prices, decreases oil production, and imposes an oil embargo on the U.S. that generates even higher inflation and a trade deficit.
1974

    The oil embargo triggers the 1974-1975 world recession, which exacerbates the less-developed countries' debt burden.
    The FDIC deposit insurance limit increases from $20,000 to $40,000 because of inflation.

1975
U.S. Presidents
during the 1970s
Richard Nixon  Richard Nixon (1969-1974)
Gerald Ford  Gerald Ford (1974-1977)
Jimmy Carter  Jimmy Carter (1977-1981)

    The Congress holds hearings and expresses concern about the concentration of Third World loans and the threat to the capital position of banks.
    Eight of the largest U.S. banks are owed $37 billion. The largest portion of Latin American debt originates from U.S. banks, accounting for 217 percent of total capital and reserves.
    Maine becomes the first state to allow the entry of out-of-state bank holding companies.
    New York City is on the verge of bankruptcy and asks the federal government for a bailout. President Gerald R. Ford originally refuses, but he changes his mind after the city raises city taxes and cuts programs. The city obtains $2.3 billion in short-term loans from the government.

Home Mortgage Disclosure Act of 1975 (HMDA)

This act:

    Encourages banks and S&Ls to lend mortgage money in low-income areas
    Requires banks and S&Ls to document their lending practices.

1976

First National City Bank changes its name to Citibank.

Several banks license VISA.
1977

Inflation accelerates when President Jimmy Carter places emphasis on restoring economic growth instead of controlling inflation.
Community Reinvestment Act (CRA) of 1977

This act:

    Directs banks and S&Ls to meet the credit needs of their communities, including low-income areas
    Requires the FDIC to examine non-member state banks for CRA compliance.

1978
Photo of crown in Iran

    Iranian Revolution occurs, the Shah is deposed, Middle East oil production is cut, and international oil prices soar.
    Interest rates on securities surpass the rates that banks and S&Ls can pay.

The International Banking Act of 1978

This act regulates the establishment, operation, and control of foreign banks in the U.S.
Financial Institutions Regulatory and Interest Rate Control Act of 1978
FFIEC logo

This act:

    Establishes Federal Financial Institutions Examination Council (FFIEC), which includes the Federal Reserve Board (FRB), the Office of the Comptroller of Currency (OCC), the FDIC, and the Federal Home Loan Bank Board (FHLBB)
    Establishes requirements for bank insider transactions
    Establishes standards for electronic fund transfers (EFT)
    Provides for the assessment of civil money penalties against banks and individuals. The FFIEC begins operations in 1979.

1979

President Jimmy Carter appoints Paul Volcker to the chairmanship of the Federal Reserve Board (FRB). Inflation is over 13 percent, and Volcker is committed to reducing that figure. Volcker concentrates on controlling the money supply instead of keeping interest rates low. Unemployment reaches 11 percent, and the prime rate reaches 21.5 percent during Volcker's tenure. Volcker is chairman of the FRB until 1987.    https://www.fdic.gov/about/history/timeline/1970s.html

The 1980s
Stamp depicting the fall of Berlin Wall

    The economy slows because of "stagflation," the economic problem of excess capacity and unemployment coexisting with inflation and no economic growth.

    The S&L industry has huge volumes of low, fixed-rate mortgages that were issued in the 1950s and 1960s. The gap between what the S&Ls earn on these mortgages and what S&Ls pay for new deposits erodes the capital of the S&Ls.

    In the era of financial deregulation in the 1980s, S&Ls embark on speculative ventures, many of which are in questionable real estate projects. When the real estate market weakens and oil prices fall, many S&Ls go bankrupt. During the 1980s, Federal Savings and Loan Insurance Corporation (FSLIC) capital is depleted.

    Most new Lesser Developed Countries (LDC) bank loans cover accrued interest on existing debt and maintain levels of consumption. The new loans are not used for productive investments. Many banks write off the bad loans.

    Stock market prices begin a steady climb, and the volume of shares traded increases dramatically. Many of those shares are traded by institutional investors, mutual funds, and large commercial investors.

    Securities transactions are increasingly conducted by computers, which are programmed to buy automatically within specified parameters.

    The electronic funds transfer (EFT) system is widely implemented.

    S&L and bank failures rise because of economic, financial, legislative, and regulatory activities.Farm land

    A series of crises converge in the 1980s, some geographical and some sectoral: mutual savings banks in the Northeast; S&Ls nationally; agricultural banks in the Midwest; oil patch banks in the Southwest; and real estate loans in the Northeast, California, and Florida.

1980

    S&L combined net worth (capital) is a negative $18 billion—85 percent of the S&Ls are losing money; 15 percent of S&Ls are broke.
    Problems with mutual savings banks begin. Most of these banks are in the Northeast and are supervised and insured by the FDIC.
    The FDIC employs 3,644: 2,544 are bank examiners and 460 are bank liquidators.
    Ten FDIC-insured banks with $236 million in assets fail.
    FDIC's insurance fund has a balance of $11 billion.
    The "Big Three" American car manufacturers (Ford, GM, and Chrysler) suffered through the 1970s, as Japanese competitors led by Honda and Toyota outperformed them in quality and price. Chrysler, which lacks the vast cash reserves of GM and Ford, is brought to the brink of bankruptcy by 1980. President Jimmy Carter signs a bill authorizing $1.2 billion in federal loans to save the failing Chrysler Corporation. It is the largest federal bailout to date.
    Ford, GM, and Chrysler logos
    IBM launches its first line of personal computers.

Depository Institutions Deregulation and Monetary Control Act of 1980

This act, which is passed as a response by Congress to get S&Ls out of interest- rate mismatch, is an effort to deregulate S&Ls.

This act:

    Begins the process of phasing out Regulation Q—or Reg Q—(the Federal Reserve's regulation that dictates what banks and S&Ls can pay on deposits)
    Allows financial institutions to offer negotiable order of withdrawal (NOW) accounts (interest-bearing checking accounts)
    Allows S&Ls to offer checking—type accounts
    Establishes loan-loss-reserve requirements
    Allows S&Ls to issue credit cards
    Increases THE FDIC deposit insurance coverage from $40,000 to $100,000.

1981
U.S. Presidents
during the 1980s
Ronald Reagan  Ronald Reagan (1981-1989)

    GDP declines 2 percent.
    Mortgage rates reach 21 percent.
    Prime rate reaches 21.5 percent—the highest rate ever.
    Inflation reaches 14 percent.
    From 1981 through 1986, the value of farmland drops by 30 percent.
    Oil prices drop.
    U.S. oilrig operations drop by 40 percent between December 1981 and July 1982.

Tax Reform Act of 1981

This act, among its many provisions, provides S&Ls with opportunities in real estate lending, and provides tax incentives to encourage real estate investment.
1982
Oil rig

    Penn Square Bank in Oklahoma City fails with $511 million in assets. The bank had generated billions of dollars in speculative oil and gas exploration loans, many of which are worthless. To support its rapid growth, the bank had sold participations in energy loans to large regional banks, including Continental Illinois ($1 billion) and Chase Manhattan Bank of New York ($212 million).
    First quarter, the S&L industry suffers losses of $3.3 billion.
    Organization of Petroleum Exporting Countries (OPEC) crude reaches a high of $42 a barrel.
    Net worth certificate program provides regulatory capital forbearance to help strengthen ailing mutual savings banks.

Recession of 1982

When President Jimmy Carter leaves office in 1981, the U.S. economy is in desperate circumstances. The major economic problem is external: The Iranian revolution disrupts Iranian oil production and creates a global shortage of petroleum, which drives prices to record highs

After this recession, the economy grows, inflation slows, unemployment and interest rates decline, and the economy appears to be favorable for banking.
Garn-St Germain Depository Institutions Act of 1982 (Garn-St Germain)

This act is an attempt to address the interest rate mismatch, to deregulate S&Ls, and to provide new business opportunities to S&Ls. Prior to this act, S&Ls had to have most of their assets in real estate lending.

This act:

    Accelerates the phasing out of interest rate controls (Req Q) from 1984 to 1986.
    Allows S&Ls to have up to 50 percent of assets in commercial (development/construction) real estate.
    Allows S&Ls to have up to 30 percent of assets in consumer loans, commercial paper, and corporate debt.
    Allows S&Ls to use land and other non-cash assets as capital instead of the previously required cash.
    Enhances the powers of the FDIC and Federal Savings and Loan Insurance Corporation (FSLIC) to provide aid to troubled institutions, including net worth certificate programs.
    Authorizes S&Ls and banks to offer money market deposit accounts.

International Lending Supervision Act of 1983

This act directs all banking regulatory agencies to ensure that all banking institutions maintain adequate capital levels. Failure to do so is made an unsafe and unsound practice.
1983

    After 50 years, the FDIC still takes in more in premiums than it loses through failures.
    48 FDIC-insured banks fail with $7 billion in assets.
    The Office of the Comptroller of the Currency (OCC) issues record numbers of bank charters, and by law, the FDIC must grant deposit insurance to all nationally chartered banks. This policy changes in 1991, with the passage of a new law that requires all banks to apply for deposit insurance independently of the chartering process.
    Eight chain banks in Tennessee (totaling $826 million is assets) owned by the Butcher family (Jake and C.H. Butcher, Jr.) fail simultaneously. The Butcher brothers are eventually sent to prison.

1984

    Continental Illinois National Bank in Chicago, Illinois, with $34 billion in assets, is the largest bank to ever fail in the FDIC's history. The bank is weakened by its participations in Penn Square energy loans. Continental experiences a high-speed electronic bank run. Bank regulators are faced with a potential run on the bank and provide a $2 billion assistance package.

    The FDIC promises to protect all of Continental's depositors and other creditors, regardless of the $100,000 limit on deposit insurance. Continental receives assistance from the FDIC because it is deemed "too big to fail." (In 1997, the estimated cost to the FDIC of resolving Continental was $1.1 billion.)
    Continental Illinois National Bank certificate
    For the first time, the FDIC spends more on resolving failures than it receives in premiums.
    79 FDIC-insured banks with $3 billion in assets fail.
    The Federal Home Loan Bank Board (FHLBB) chairman testifies before the House Banking Committee, stating that an S&L crisis is imminent.
    The banking regulators individually publish new uniform capital standards.
    In response to a 1983 law, banking regulatory agencies set minimum capital requirement standards for individual institutions.

1985
L. William Seidman

    L. William Seidman becomes the chairman of the FDIC.
    120 FDIC-insured banks with $8.7 billion in assets fail—the first time more than 100 banks fail in one year since the FDIC was created.

1986

    Real estate investments are less attractive because of overbuilding and the Tax Reform Act of 1986.
    A $15 billion attempt to recapitalize Federal Savings and Loan Insurance Corporation (FSLIC) fails in Congress. The next year, Congress authorizes $10.75 billion.
    Reg Q, the regulation that dictated what banks and S&Ls can pay in interest, is fully phased out in accordance with the 1980 law.
    1,840 mutual funds control $716 billion in stock, bonds, and money market assets.
    138 FDIC-insured banks with $7 billion in assets fail.

Tax Reform Act of 1986

This act repeals many of the 1981 tax incentives that were meant to encourage real estate investment.
Competitive Equality Banking Act of 1987 (CEBA)

This act:

    Authorizes $10.75 billion to recapitalize Federal Savings and Loan Insurance Corporation (FSLIC) over a three-year period
    Grants the FDIC bridge-bank authority
    Becomes the first legislation to explicitly state that insured deposits are backed by the full-faith-and-credit of the U.S. government.

1987
Alan Greenspan

    Alan Greenspan becomes the chairman of the Federal Reserve Board.
    Federal Savings and Loan Insurance Corporation (FSLIC) is insolvent by $6 billion.
    S&Ls lose $30 million each business day.
    FDIC monitors 1,575 problem banks with $385.5 billion in assets. More than 10 percent of banks are on the FDIC's problem list.
    The FDIC holds $18.3 billion in its insurance fund—the most ever.
    184 FDIC-insured banks with $7 billion in assets fail.
    The Dow falls 23 percent in one day (taking 18 months to recover); the Federal Reserve Board floods the economy with money.
    Vernon Savings in Dallas, Texas, an FSLIC-insured institution, fails with $1.2 billion in assets (98 percent of its loans are in default).

1988

    223 FSLIC-insured S&Ls fail.
    200 FDIC-insured banks with combined assets of $35.7 billion fail.
    FDIC records a loss for the first time.
    Despite growing problems, the banking industry earns record profits of $24.8 billion.
    First Republic in Dallas and Houston, Texas, with $31.2 billion in assets, fails. It is the costliest FDIC resolution to date at $3.7 billion.
    First City Bank in Houston, Texas, with $12.3 billion in assets, fails. The bank receives a $900 million loan from FDIC. (It later closes in 1992.)
    The central bank governors of the Group of Ten (G-10) countries adopt the Basel Capital Accord, known as Basel I Accord, which provides procedures for factoring on- and off-balance-sheet risks into the supervisory assessment of capital adequacy.

1989

    FDIC has about 8,000 employees.
    206 FDIC-insured banks with $29.2 billion in assets fail—the most in FDIC history. Two-thirds of these banks are in Texas.
    Lincoln Savings and Loan in Irvine, California, with $5.5 billion in assets, fails. Charles Keating, the owner, is investigated for violating investment rules. There are allegations of political influence.
    Texas' second largest bank, MCorp in Dallas, Texas, with $15 billion in assets, fails.
    The Berlin Wall comes down. The end of the Cold War results in a so-called peace dividend for the U.S. economy.

Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)

FIRREA is the most important banking law since the Great Depression when the FDIC was created. FIRREA is the beginning of statutory attempts to re-regulate the banking and S&L industry. This act authorizes the use of taxpayer money to resolve S&L failures.

This act:

    Abolishes the Federal Savings and Loan Insurance Corporation (FSLIC), which has provided deposit insurance to S&Ls since 1934
    Creates two insurance funds: the Savings Association Insurance Fund (SAIF) and the Bank Insurance Fund (BIF)—both of which are administered by the FDIC
    Establishes the Resolution Trust Corporation (RTC) as a temporary agency to resolve S&L failures from August 9, 1989, to July 1, 1995
    Provides funding for the RTC: $30 billion from the sale of bonds, $18 billion from the U.S. Treasury, and $2 billion from the Federal Home Loan Bank Board (FHLBB)
    Replaces the FHLBB with the Office of Thrift Supervision (OTS) to regulate and supervise S&Ls
    Gives the FDIC back-up supervisory authority over S&Ls
    Increases the FDIC's Board of Directors to five members from three by adding a vice chairman position and the director of the newly formed OTS.  https://www.fdic.gov/about/history/timeline/1980s.html

The 1990s
Computers in a classroom

The economy displays less volatility in growth, unemployment, and inflation than in previous decades. This volatility leads some economists to prematurely hail the end of the business cycle.

The unemployment rate declines, reaching a 30-year low of 3.9 percent in early 2000.

Inflation averages 2.5 percent annually, compared with 5 percent in the 1980s and more than 6 percent in the 1970s.

The stock market yields more than 25 percent annually in the last half of the decade and supports consumer spending. The 1990s is the longest bull market in history. Investors believe that the market and the economy have entered a new age, which is attributed to advances in technology. NASDAQ experiences a 795 percent cumulative 10-year return.

Growth is driven by increases in labor productivity, which is fueled by information and communications technology. In the mid-1980s, 18 percent of U.S. adults use a computer. In the mid-1990s, 50 percent use a computer. People and businesses around the world communicate by email and cellular phones. The Internet will change the face of banking and commerce.

The S&L crisis that began in the early 1980s ends in the mid-1990s. The result is 1,600 bank failures and 1,300 S&L failures.
1990
Operation Desert Storm patch

    By year-end, the FDIC has 19,247 employees, including 4,899 RTC employees.
    168 FDIC-insured banks fail.
    The RTC resolves 315 failed S&Ls.
    The FDIC insurance premiums increase from 8.3 cents to 12 cents per $100 of deposits. This is the first rate increase since the FDIC began operations in 1934.
    Mutual funds grow to $1.5 trillion from $250 billion in 1983, partly because of the exodus of deposits from banks and S&Ls.
    Iraq invades Kuwait, and the subsequent war between the U.S. and Iraq leads to higher oil prices, reduced consumption, and declining demand.

1991

    Two statutes provide the Resolution Trust Corporation (RTC) with $36.7 billion in additional funding.
    On January 1, the FDIC increases insurance premiums from 12 cents to 19.5 cents per $100 of deposits.
    On July 1, the FDIC increases premiums to 23 cents per $100 of deposits.
    By year-end, the FDIC's Bank Insurance Fund (BIF) is insolvent by $7 billion.
    By year-end, the FDIC has 22,586 employees, including 8,614 RTC employees.
    FDIC monitors 1,090 problem banks with $609.8 billion in assets.
    124 FDIC-insured banks with $63 billion in assets fail—one-third are in New England.
    The Office of the Comptroller of the Currency (OCC) declares the Bank of New England insolvent and appoints the FDIC receiver. Twenty percent of the bank's loans are non-performing. The bank is considered "too big to fail," and all depositors are protected—even those with a more than $100,000 insured limit. The General Accounting Office reports that the OCC failed to take timely and forceful supervisory action.

Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991

This act fixes problems not addressed in FIRREA.

This act:

    Gives the FDIC authority to borrow $30 billion from the U.S. Treasury to help replenish the Bank Insurance Fund (BIF)
    Provides for a line-of-credit from the U.S. Treasury
    Directs the FDIC to apply risk-based insurance premiums. Before this, there was a statutorily mandated flat rate
    Puts significant restrictions on the designation of "too big to fail," requiring approval of the President of the United States
    Requires the FDIC to close banks in a manner that is least costly to the BIF
    Requires that prompt corrective action be taken against banks based on their capital levels. Gives the FDIC authority to close depository institutions when capital levels fall below 2 percent
    Places new restrictions on the use of brokered deposits
    Requires banks to apply to the FDIC for deposit insurance independently of the chartering process
    Requires bank regulators to conduct annual safety-and-soundness examinations of all insured institutions—the healthiest institutions with less than $100 million in assets can extend this exam interval to every 18 months.

1992

    RTC requests additional funds to continue resolving the S&L crisis. Congress does not approve the funding.
    The Bank Insurance Fund (BIF) ends the year with a deficit balance of $101 million.
    The banking industry earns record profits of $32 billion for the year.
    For the first time since 1984, the FDIC receives more in premiums than it spends on bank failures.
    The Treaty of Maastricht is signed, which forms the European union.

1993
U.S. Presidents
during the 1990s
George Bush  George Bush (1989-1993)
Bill Clinton  Bill Clinton (1993-2001)

    Banks begin paying risk-based insurance premiums, replacing the flat-rate assessment system.
    Under the new risk-based premium plan, banks pay an average of 23.7 cents per $100 of deposits for insurance.
    The banking industry earns record profits of $43.1 billion.
    41 FDIC-insured banks fail, the lowest number of failures in 12 years.

RTC Completion Act of 1993

This act:

    Provides final funding of $18 billion for the RTC
    Provides for the closure of the RTC and the transfer of its workload and employees to the FDIC.

1994
Map of North America

    13 FDIC-insured banks with $1.4 billion in assets fail.
    Banks set a new earnings record, with reported net income of $44.7 billion.
    The North American Free Trade Agreement (NAFTA) links the U.S., Canada, and Mexico into free trade, eliminating some tariffs and phasing out others.
    The Federal Reserve Board raises the discount rate six times during the year.
    Banks invest $19 billion in technology.
    Mergers and consolidations in the banking industry continue to increase; 550 banks are absorbed by mergers or consolidations.
    Only 50 new bank charters are issued, the fewest since 1943.
    The Bank Insurance Fund (BIF) grows to $21.8 billion.
    The FDIC electronically computes assessments and electronically collects premiums.

Riegle Community Development and Regulatory Improvement Act of 1994

This act:

    Contains provisions aimed at curbing non-bank lenders' practices of targeting low and moderate income homeowners, minorities, and the elderly for abusive lending practices
    Contains more than 50 provisions to reduce bank regulatory burden and paperwork requirements.

Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994

This act eliminates the legal impediments to full interstate banking. This act:

    Permits bank holding companies to acquire banks in any state
    Permits interstate mergers among banks, subject to concentration limits, state laws, and Community Reinvestment Act evaluations
    Allows foreign banks to branch to the same extent as U.S. banks
    Raises the asset ceiling to qualify for the extended exam interval to $250 million and allows more banks to qualify as "healthy."

1995
Screenshot of FDIC Web site

    The RTC sunsets. Over its 6 1/2 years of existence, the RTC resolves 747 S&Ls with $403 billion in assets at a cost of $160 billion to the taxpayer.
    The FDIC lowers insurance premiums in on July 1.
    The FDIC launches its first public website in March.

1996
Supreme Court building

    The U.S. Supreme Court, siding with Citibank, rules that states may not regulate the fees charged by out-of-state credit card banks. The ruling is crucial for large, nationwide credit card issuers, many of whom have based their strategies on the ability to export fees into other states.
    Banks control $4.6 trillion in assets.
    More than 7,000 mutual funds control $3.7 trillion in stock, bonds, and money-market assets (compared with 1,840 mutual funds and $716 billion in 1986).
    Investors have $1.7 trillion in defined contribution retirement plans.
    The FDIC lowers premiums for the best-managed banks. More than 90 percent of the FDIC-insured banks pay nothing for deposit insurance.
    The FDIC recapitalizes SAIF with a one-time special assessment equal to $0.657/$100 of deposits (or 65.7 basis points).

Deposit Insurance Funds Act of 1996

This act closes the chapter on the S&L crisis by providing for the capitalization of Savings Associations Insurance Fund (SAIF).
Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA)

This act accomplishes the following:

    Amends the FDIA to eliminate or revise various application, notice, and record keeping requirements to reduce regulatory burden
    Amends the Fair Credit Reporting Act to strengthen consumer protections relating to credit reporting agency practices
    Requires that one FDIC board member be a former bank regulator.

1997

Japanese yenThe Asian financial crisis strikes several major Asian economies, revealing severe problems in the Asian banking and financial sectors. The economic crisis leads to political upheaval. Anti-Western sentiment increases. The crisis demonstrates how rapidly money moves around the globe. The crisis is intensively analyzed by economists for its breadth, speed, and dynamism.

Perhaps more interesting to economists is the speed with which the crisis ends, leaving most of the developed economies unharmed. The Asian crisis contributes to the Russian and Brazilian crises in 1998 because after the Asian crisis, banks are reluctant to lend to emerging markets.
1998
Globe

    Russia experiences a series of economic and fiscal crises, which occur as East Asia and Latin America are undergoing their own financial crises.
    The global financial crisis creates unease in the world financial markets and raises questions about the strength of the international financial system.
    Citicorp and Travelers Group merge to become Citigroup, which weakens the separation of banking and commerce that has been in effect since 1933.

1999

    Annual ATM transactions exceed $1 billion.
    The banking industry and the banking regulators, in anticipation of computer problems with the new millennium, place key emphasis on Y2K.
    The U.S. experiences its first budget surplus in decades.

Gramm-Leach-Bliley Act of 1999

This act:

    Repeals the last provisions of the Glass-Steagall Act of 1933.
    Creates a new financial holding company authorized to:
        Underwrite and sell insurance and securities
        Conduct both commercial and merchant banking
        Invest in and developing real estate activities
        Underwrite municipal bonds (national banks only)
    Restricts the disclosure of nonpublic customer information by financial institutions
    Imposes criminal penalties for obtaining customer information from a financial institution under false pretenses
    Amends the Community Reinvestment Act so that financial holding companies cannot be formed before their insured depository institutions receive and maintain a satisfactory CRA rating.  https://www.fdic.gov/about/history/timeline/1990s.html

 

NEW Andrew Carnegie was a telegraph clerk at seventeen, then secretary to the head of the Pennsylvania Railroad, then broker in Wall Street selling railroad bonds for huge commissions, and was soon a millionaire. He went to London in 1872, saw the new Bessemer method of producing steel, and returned to the United States to build a million-dollar steel plant. Foreign competition was kept out by a high tariff conveniently set by Congress, and by 1880 Carnegie was producing 10,000 tons of steel a month, making $1 million a year in profit. By 1900 he was making $40 million a year, and that year, at a dinner party, he agreed to sell his steel company to J. P. Morgan. He scribbled the price on a note: $492, 000, 000.

Morgan then formed the U.S. Steel Corporation, combining Carnegie's corporation with others. He sold stocks and bonds for $1,300,000,000 (about 400 million more than the combined worth of the companies) and took a fee of 150 million for arranging the consolidation. How could dividends be paid to all those stockholders and bondholders? By making sure Congress passed tariffs keeping out foreign steel; by closing off competition and maintaining the price at $28 a ton; and by working 200,000 men twelve hours a day for wages that barely kept their families alive.
http://colfa.utsa.edu/users/jreynolds/Textbooks/Rockefeller/Rockefeller%20Zinn.htm

Barclays helps ?nance two of the world's fastest passenger ships                          

 http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

President McKinley, whose popularity was heightened by the victory of the United States in the Spanish-American war, was easily returned to a second term in the election of 1900. His running mate was Theodore Roosevelt, Governor of New York.
http://www.eyewitnesstohistory.com/mckinley.htm

NEW  On June 30, 1900, a large fire at the Norddeutscher Lloyd piers killed numerous people and caused almost $10 million in damage.[63][64] The southern portion (which had been a U.S. base of the Hamburg-American Line) was seized by the federal government under eminent domain at the outbreak of World War I, after which it became (with the rest of the Hudson County) a major East Coast cargo-shipping port. https://en.wikipedia.org/wiki/Hoboken,_New_Jersey


1901

---In September 1991,less than a year McKinley's presidency was cut short by an assassin's bullet delivered in Buffalo, New York....He lingered for eight days finally succumbing to gangrene and infection on September 14 with the words "it is God's way, his will, not ours, be done." http://www.eyewitnesstohistory.com/mckinley.htm 

---With the assassination of President McKinley, Theodore Roosevelt, not quite 43, became the youngest President in the Nation's history. He brought new excitement and power to the Presidency, as he vigorously led Congress and the American public toward progressive reforms and a strong foreign policy.

He took the view that the President as a "steward of the people" should take whatever action necessary for the public good unless expressly forbidden by law or the Constitution." I did not usurp power," he wrote, "but I did greatly broaden the use of executive power."

https://www.whitehouse.gov/1600/presidents/theodoreroosevelt

---J.P. Morgan creates the world's first billion-dollar corporation by buying out industrialist Andrew Carnegie and combining some 33 companies to create United States Steel.  https://www.jpmorgan.com/pages/company-history

1902

 NEW Enumerations of people were carried out long before the birth of Jesus. Data related to births were recorded in church registers in England as early as the 1500s. However, not until the 1902 Act of Congress was the Bureau of Census established as a permanent agency to develop birth registration areas and a standard registration system. Although all states had birth records by 1919, the use of the standardized version was not uniformly adopted until the 1930's. In the 1989 US Standard Birth Certificate revision, the format was finally uniformly adopted to include checkboxes to improve data quality and completeness. The evolution of the 12 federal birth certificate revisions is reflected in the growth of the number of items from 33 in 1900 to more than 60 items in the 2003 birth certificate. As birth registration has moved from paper to electronic, the birth certificate's potential utility has broadened, yet issues with updating the electronic format and maintaining quality data continue to evolve. Understanding the birth certificate within its historical context allows for better insight as to how it has been and will continue to be used as an important public-health document shaping medical and public policies.  https://www.nature.com/articles/jp20123

NEW Citi opened its first Japanese branch in Yokohama in 1902 and has a long and proud history of serving corporate and institutional clients across a broad range of products, including corporate and investment banking, markets and securities services, capital markets origination, treasury and trade solutions, and research. Citi aims to deliver highly innovative financial solutions through an unrivalled global network to support the growth of its clients.
https://www.citigroup.com/citi/about/countries-and-jurisdictions/japan.html

Citi began operations in India over a century ago in 1902 in Kolkata and today is a significant foreign investor in the Indian financial market. As promoter-shareholder, Citi has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Citi helped lay the foundation of the Indian software industry by establishing Citicorp Overseas Software Ltd. and Iflex Solutions Ltd.; it pioneered the ITES industry in financial services through Citigroup Global Services Ltd. (CGSL). Oracle acquired Iflex in 2005 and CGSL was acquired by Tata Consultancy Services in 2008. Citi India added two more green certified buildings to its office premises in 2012, and in 2013 moved its headquarters to The First International Financial Centre (FIFC), a world-class environmentally friendly building. In addition, Citi India, through its network of Citi Solution Centres, has been a leading offshoring unit for Citigroup globally, providing employment opportunities in the areas of technology, processing, analytics and financial processes. https://www.online.citibank.co.in/press-room/citi-in-india.htm

London Stock Exchange listing   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

Paul Moritz Warburg was born in 1868, Hamburg, Germany.He moved to New York in 1902, and joined Kuhn Loeb & Company. Jacob Schiff was his brother-in-law. Paul Warburg was involved in creating the Federal Reserve.

Citi first established operations in China when it opened its Shanghai office in 1902. As the first American bank to fly the red, white and blue flag in China, Citi became known as Hua Qi Yin Hang, literally, the ?Flower Flag Bank?. In the modern era, China remains one of Citi's greatest priorities. http://www.citi.com.cn/html/en/about_us/Our_history.html

NOTE: Citibank (USA) says it got its beginning as City Bank in 1912........Am I the only one who see's it impossible for Citibank to have gotten its beginning in the US   http://www.citigroup.com/citi/about/history/101.htm

NOTE:  7 institution history record(s) found.
Event Date Historical Event
1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank.
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK.
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY.
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY.
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY.
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV.
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD.

http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

 In 1902, the name[T.Mellon & Sons Bank] is changed to Mellon National Bank and joins the national banking system.
https://www.bnymellon.com/us/en/timeline.jsp


1903

J.P. Morgan & Co. was appointed as fiscal agent for the newly independent Republic of Panama in 1903 and was subsequently selected by the U.S. Treasury Secretary to arrange the transfer of $40 million from the U.S. government to the French Panama Canal Co. This was the largest real estate deal at the time. https://www.jpmorgan.com/pages/company-history 

 

1904

 

1905

1905- The Lincoln National Life Insurance Company is established. Abraham Lincoln's son, Robert Todd Lincoln, grants permission to use his father's name and likeness. The Lincoln National Life Insurance Company   NEW

1905  First Branch
Credit Suisse takes over the office of Oberrheinische Bank in Basel in 1905, resulting in the opening of the first Credit Suisse branch outside Zurich.  
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1906

Bank of Italy, today known as Bank of America, provides loans to citizens of San Francisco to rebuild after the earthquake.  http://www.ustrust.com/ust/pages/about-us.aspx
 

J.P. Morgan is central to the creation of U.S. Steel, GE and AT&T.     https://www.jpmorgan.com/pages/company-history 

1907

1907- Banking Panic of 1907

The New York Stock Exchange dropped dramatically as everyone tried to get their money out of the banks at the same time across the nation. This banking panic spurred debate for banking reform. JP Morgan and others gathered to create an image of concern and stability in the face of the panic, which eventually led to the formation of the Federal Reserve. The founders of the Federal Reserve pretended like the bankers were opposed to the idea of its formation in order to mislead the public into believing that the Federal Reserve would help to regulate bankers when in fact it really gave even more power to private bankers, but in a less transparent way.
http://www.thrivemovement.com/banking-history-timeline-follow-money
 

During the financial panic of 1907, J. Pierpont Morgan saves several trust companies and a leading brokerage house from insolvency, bails out New York City, and rescues the New York Stock Exchange.  https://www.jpmorgan.com/pages/company-history

In 1907, the stock market and world markets crashed, spurred largely by huge insurance company loses after the San Francisco fire of 1906. Led by J.P. Morgan and John D. Rockefeller, The Clearing House stepped in by lending money to banks, to the stock exchange and to the City of New York until the panic subsided. Not long after this great panic, The Federal Reserve was formed and The Clearing House?s role evolved to become a proactive resource to promote common interests and help shape the U.S. banking industry. https://www.theclearinghouse.org/about-tch/a-look-back

1908

1908 ? JP Morgan Associate and Rockefeller Relative Nelson Aldrich Heads New National Monetary Commission

Senate Republican leader, Nelson Aldrich, heads the new National Monetary Commission that was created to study the cause of the banking panic. Aldrich had close ties with J.P. Morgan and his daughter married John D. Rockefeller. 
http://www.thrivemovement.com/banking-history-timeline-follow-money 

The Aldrich Vreeland Act was passed in response to the Panic of 1907 and established the National Monetary Commission, which recommended the Federal Reserve Act of 1913.

On May 27, 1908, the bill passed the House on a mostly party-line vote of 166?140, with 13 Republicans voting against it and no Democrats voting for it. On May 30, it passed in the Senate with 43 Republicans in favor and five Republicans joining 17 Democrats opposed. President Roosevelt signed the bill that same night.

The act also allowed national banks to start national currency associations in groups of ten or more , with at least $5 million in total capital, to issue emergency currency. These bank notes were not to be backed by just government bonds, but also just about any securities the banks were holding.

The act proposed that this emergency currency had to go through a process of approval by the officers of these national currency associations, and then once approved were distributed by the Comptroller of the Currency. However, it is possible that because there was a 5 percent tax placed on this emergency currency for the first month it was "outstanding" and a 1 percent increase for the following months it was "outstanding," no bank notes were issued. Another possible explanation why the emergency currency never issued might have been because it wasn't necessary to do so.

Congress modified and extended the law in 1914 when British and other foreign creditors demanded immediate payments, in gold , of amounts which would ordinarily have been carried over and paid through exports of commodities.

Senator Nelson W. Aldrich (R-RI) was largely responsible for the Aldrich-Vreeland Currency Law, and he became the Chairman of the National Monetary commission. The co-sponsor of the legislation was Rep. Edward Vreeland, a Republican from New York. A usage of the law occurred at the outbreak of the World War I in 1914 when the first great financial panic of the twentieth century befell the world, necessitating the closure of the New York Stock Exchange. Secretary of the Treasury William Gibbs McAdoo appeared in New York City
and assured the public that ample stocks of emergency bank notes had been prepared in accordance with the Aldrich?Vreeland Act and were available for issue to the banks. As of October 23, 1914, $368,616,990 was outstanding.

The Federal Reserve Act of December 23, 1913 took effect in November, 1914 when the 12 regional banks opened for business. Ultimately the emergency currency issued under the Aldrich-Vreeland Law was entirely withdrawn.

http://www.absoluteastronomy.com/topics/Aldrich-Vreeland_Act

1909

The 16th Amendment was passed by Congress on July 2, 1909, and ratified February 3, 1913, the 16th amendment established Congress's right to impose a Federal income tax.  https://www.ourdocuments.gov/doc.php?flash=false&doc=57

1910

Business leaders in a small town rich in German-American heritage, Jasper, Indiana, organized and opened a bank in 1910. It was the community?s heritage that prompted the new bank?s name, German American Bank. https://germanamerican.com/about/history/

1910  Bankers Meet Secretly on Jekyll Island to Draft Federal Reserve Banking Legislation

Over the course of a week, some of the nations most powerful bankers met secretly off the coast of Georgia, drafting a proposal for a private Central Banking system. Those in attendance included Nelson Aldrich, A.P. Andrew (Assistant Secretary of the Treasury), Paul Warburg (Kuhn, Loeb, & Co.), Frank Vanderlip (President of National City Bank of New York), Charles D. Norton (president of the Morgan-dominated First National Bank of New York), Henry Davidson (Senior Partner of JP Morgan Co.), and Benjamin Strong (representing JP Morgan).
http://www.thrivemovement.com/banking-history-timeline-follow-money 

On the evening of November 22, 1910, seven of the riches men , together representing about one fourth the world's wealth at the time, left Hoboken, New Jersey on a train in complete secrecy, dropping their last names in favor of first names, or code names, so no one would discover who they all were. The excuse for such powerful representatives and wealth was to go on a duck hunting trip on Jekyll Island.

1. Nelson W. Aldrich, Republican "whip" in the Senate, Chairman
of the National Monetary Commission, business associate of J.P.
Morgan, father-in-law to John D. Rockefeller, Jr.;
2. Abraham Piatt Andrew, Assistant Secretary of the United States
Treasury;
3. Frank A. Vanderlip, president of the National City Bank of New
York, the most powerful of the banks at that time, representing
William Rockefeller and the international investment banking
house of Kuhn, Loeb & Company;
4. Henry P. Davison, senior partner of the J.P. Morgan Company;
5. Charles D. Norton, president of J.P. Morgan's First National Bank
of New York;
1
6. Benjamin Strong, head of J.P. Morgan's Bankers Trust Company;
and
7. Paul M. Warburg, a partner in Kuhn, Loeb & Company, a
representative of the Rothschild banking dynasty in England
and France, and brother to Max Warburg who was head of the
Warburg banking consortium in Germany and the Netherlands.


https://archive.org/details/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin

https://ia701202.us.archive.org/11/items/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin.pdf Meet the owners of the Federal Reserve

a
nd the currency in your pocket and the administrators of how business is done in America via taxation - the IRS.

"This was the roster of the Aldrich car that night: (train car headed to Jekyll Island in Georgia in 1910)

Nelson W. Aldrich, Republican "Whip" in the Senate, Chairman of the National Monetary Commission, business associate of J.P. Morgan, Father-in-law of John D. Rockefeller, Jr.;
Abraham Piatt Andrew, Assistant Secretary of the United States Treasury;
Frank A. Vanderlip, president of the National City Bank of New York, the most powerful of the banks at that time, representing William Rockefeller and the international investment banking house of Kuhn, Loeb & Company;
Henry P. Davison, senior partner of the J.P. Morgan Company;
Charles D. Norton, president of J.P. Morgan's first National Bank of New York;
Benjamin Strong, head of J.P. Morgan's Bankers Trust Company;
Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands."1
_____________

1. G. Edward Griffin, The Creature from Jekyll Island - A Second Look at the Federal Reserve (American Media, P.O. Box 4646, Westlake Village, CA 91359-1646) 5
http://www.postwtc.com/fedowners.html
 

1910  Paris
SKA opens a representative office in Paris for its international safekeeping account clients. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1910: J.S. Morgan becomes Morgan Grenfell & Co.      https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1910: J.S. Morgan becomes Morgan Grenfell & Co.
 https://www.jpmorgan.com/GB/en/about-us

NEW  1910: Equitable Trust Company of New York (a firm predecessor) opens its Paris branch on the Rue de la Paix, becoming the first American bank branch on the European continent. http://https://www.jpmorgan.com/FR/en/about-us

 

1911

International Business Machines Corporation (IBM or the company) was incorporated in the State of New York on June 16, 1911, as the Computing-Tabulating-Recording Co. (C-T-R), a consolidation of the Computing Scale Co. of America, the Tabulating Machine Co. and The International Time Recording Co. of New York. Since that time, IBM has focused on the intersection of business insight and technological innovation, and its operations and aims have been international in nature. This was signaled over 85 years ago, in 1924, when C-T-R changed its name to International Business Machines Corporation.  http://www.ibm.com/investor/pdf/10K_2011.pdf

1912

World War I

NEW   So vast was was the Rockefeller and Morgan's  Systems' power that it was doubtful if any great business enterprise could be started successfully without their help.   When the tendency to bank consolidation became apparent much was said about  the money trust, with power over every other trust.    It was alleged that by contracting or expanding the bank reserves it could put up or down the prices of stocks as suited the interests of its speculating owners.    Such a trust was pronounced the climax of all the movements toward combination.   The passage of time has confirmed this tendency to bank consolidation and the concentration of control in a few hands has been the subject of much criticism.

In 1912 the Pujo committee, by order of Congress, investigated the  money trust and rendered a striking report, confirming the existence of such a combination, and describing at length the evils which had resulted from it.   The intervention of the World War, however, drew the public mind away from the situation. SOURCE: A SHORT HISTORY OF THE UNITED STATES  1492-1938, By John Spencer Bassett, Ph. D.,  Late  Professor of American History, in Smith College, published 1939, page 740.-741

The City Bank of New York was formed on June 16th, 1812, after overcoming many obstacles and political maneuverings. Led by Samuel Osgood, a far-sighted elder statesman who believed in expanding trade across borders, the bank let New York compete with Boston, Baltimore and Philadelphia for the nation's business.
http://www.citigroup.com/citi/about/history/101.htm

NEW   OneMain Financial

Citigroup

UBSIDIARIES OF THE COMPANY

NOTE: Citibank (China) was opened in 1902. 

NOTE: 7 institution history record(s) found.

Event Date Historical Event
1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank.
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK.
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY.
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY.
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY.
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV.
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD.

http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

 

1912-12-31 PRIMERICA CORPORATION located at 65 EAST 55TH STREET, NEW YORK, NY was established as a Domestic Entity Other.

1913

The Federal Reserve System IS CREATED 1913

Federal Reserve Members

 

Dec 23, 1913  Federal Reserve Act Passed

Two days before Christmas, while many members of Congress were away on vacation, the Federal Reserve Act was passed, creating the Central banking system we have today. It was based on the Aldrich plan drafted on Jekyll Island and gave private bankers supreme authority over the economy. They are now able to create money out of nothing (and loan it out at interest), make decisions without government approval, and control the amount of money in circulation.

1913  Income tax established -16th Amendment Ratified
http://www.thrivemovement.com/banking-history-timeline-follow-money
Taxes ensured that citizens would cover the payment of debt due to the Central Bank, the Federal Reserve, which was also created in 1913.The 16th Amendment stated: The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.  http://www.thrivemovement.com/banking-history-timeline-follow-money

Foreign Events: 1. Russian collapse    2 German Republic     3 League of Nations

1914

NOTE: Double check information you find on the internet. Even stuff I post.   -Jan Tetstone

Charles S. Hamlin
   Boston     Aug. 10, 1914     Reappointed in 1916 and 1926. Served until Feb. 1936.
https://www.federalreserve.gov/aboutthefed/bios/board/boardmembership.htm

-----------------------------------------------------------------------------

Charles Sumner Hamlin was born in Boston, Massachusetts on August 30, 1861, to Anna and Edward Hamlin. His mother was born in England to Irish parents, while his father, a coal dealer, was from Massachusetts.[2] He graduated from Harvard University with a Bachelor of Arts degree in 1883 and received his Master of Arts from Harvard in 1886. Sumner studied law while completing his master's degree and attained admission to the bar in 1886, practicing law in Boston.
Career

From 1893 to 1897 and again from 1913 to 1914, Hamlin was the Assistant Secretary of the Treasury. He twice ran unsuccessfully for Governor of Massachusetts, in 1902 and 1910. On August 10, 1914, he was appointed the first Chairman of the Federal Reserve and served in that capacity until August 10, 1916. He lectured at Harvard University on government from 1902 to 1903.

In 1912, he was vice president of the Woodrow Wilson College Men's League and president of the Woodrow Wilson League of Massachusetts. Hamlin also published pamphlets on statistical and financial subjects, including an Index Digest of Interstate Commerce Laws (1907) and the Index Digest of the Federal Reserve Bulletin (1921).

https://en.wikipedia.org/wiki/Charles_Sumner_Hamlin

NEW As a result of increased instability in Haiti in the years before 1915, the United States heightened its activity to deter foreign influence. Between 1911 and 1915, seven presidents were assassinated or overthrown in Haiti, increasing U.S. policymakers’ fear of foreign intervention. In 1914, the Wilson administration sent U.S. Marines into Haiti. They removed $500,000 from the Haitian National Bank in December of 1914 for safe-keeping in New York, thus giving the United States control of the bank. In 1915, Haitian President Jean Vilbrun Guillaume Sam was assassinated and the situation in Haiti quickly became unstable. In response, President Wilson sent the U.S. Marines to Haiti to prevent anarchy. In actuality, the act protected U.S. assets in the area and prevented a possible German invasion.  http://https://history.state.gov/milestones/1914-1920/haiti

NOTE:  Many Americans, because of the way news got around, were unaware of President Wilson's act of war on small countries.....Now computers along with old  history books, make it possible for those of us who question events to form a better understanding of who started the first war and why there was a first world war.,and all the wars that have followed it. jt

Merrill Lynch was formed in 1914 and became a publicly traded company on June 23, 1971. In 1973, we created the holding company, ML & Co., a Delaware corporation that, through its subsidiaries, is one of the world’s leading capital markets, advisory and wealth management companies with offices in 40 countries and territories. In our Global Wealth Management (“GWM”) business, we had total client assets in GWM accounts of approximately $1.2 trillion at December 26, 2008. As an investment bank, we are a leading global trader and underwriter of securities and derivatives across a broad range of asset classes, and we serve as a strategic advisor to corporations, governments, institutions and individuals worldwide. In addition, as of December 26, 2008, we owned approximately half of the economic interest of BlackRock, Inc. (“BlackRock”), one of the world’s largest publicly traded investment management companies with approximately $1.3 trillion in assets under management at the end of 2008.
 
On September 15, 2008, we entered into an Agreement and Plan of Merger, as amended by Amendment No. 1 dated as of October 21, 2008 (the “Merger Agreement”) with Bank of America Corporation (“Bank of America”). Pursuant to the Merger Agreement, on January 1, 2009, a wholly-owned subsidiary of Bank of America (“Merger Sub”) merged with and into ML & Co., with ML & Co. continuing as the surviving corporation and a subsidiary of Bank of America (the “Merger”).
 
Our activities are conducted through two business segments: Global Markets and Investment Banking (“GMI”) and GWM. In addition, we provide a variety of research services on a global basis. https://www.sec.gov/Archives/edgar/data/65100/000095012309003322/y74695e10vk.htm

Paul M. Warburg was sworn in as a member of the first Federal Reserve Board on August 10, 1914. He was appointed vice chairman (called ?vice governor? before 1935) on August 10, 1916. He resigned from the Board on August 9, 1918.   https://www.federalreservehistory.org/people/paul-m-warburg


1914  JP Morgan and Co. Profits from Financing both sides of War and Purchasing Weapons

J.P. Morgan and Co. made a deal with the Bank of England to give the
m a monopoly on underwriting war bonds for the UK and France. They also invested in the suppliers of war equipment to Britain and France. http://www.thrivemovement.com/banking-history-timeline-follow-money

November 1914  Federal Reserve Banks Open
http://www.thrivemovement.com/banking-history-timeline-follow-money

The Class A stock of the Federal Reserve has not been sold or traded on the open market since it was hermetically sealed from the public at the end of the summer of 1914.
 

1914: The opening of a Deutsche Bank branch in New York fails. https://www.db.com/usa/content/en/Chronicles.html

The Clayton Act addresses specific practices that the Sherman Act does not clearly prohibit, such as mergers and interlocking directorates (that is, the same person making business decisions for competing companies). Section 7 of the Clayton Act prohibits mergers and acquisitions where the effect "may be substantially to lessen competition, or to tend to create a monopoly." As amended by the Robinson-Patman Act of 1936, the Clayton Act also bans certain discriminatory prices, services, and allowances in dealings between merchants. The Clayton Act was amended again in 1976 by the Hart-Scott-Rodino Antitrust Improvements Act to require companies planning large mergers or acquisitions to notify the government of their plans in advance. The Clayton Act also authorizes private parties to sue for triple damages when they have been harmed by conduct that violates either the Sherman or Clayton Act and to obtain a court order prohibiting the anticompetitive practice in the future. http://www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-laws/antitrust-laws

Clayton Antitrust Act, 1914, passed by the U.S. Congress as an amendment to clarify and supplement the Sherman Antitrust Act of 1890. It was drafted by Henry De Lamar Clayton. The act prohibited exclusive sales contracts, local price cutting to freeze out competitors, rebates, interlocking directorates in corporations capitalized at $1 million or more in the same field of business, and intercorporate stock holdings. Labor unions and agricultural cooperatives were excluded from the forbidden combinations in the restraint of trade. The act restricted the use of the injunction against labor, and it legalized peaceful strikes, picketing, and boycotts. It declared that "the labor of a human being is not a commodity or article of commerce." Organized labor was as heartened by the act as it had been dejected by the doctrine of the Danbury Hatters' Case, but subsequent judicial construction weakened the act's labor provisions. The Clayton Antitrust Act was the basis for a great many important and much-publicized suits against large corporations. Later amendments to the act strengthened its provisions against unfair price cutting (1936) and intercorporate stock holdings (1950).
The Columbia Electronic Encyclopedia, 6th ed. Copyright  2012, Columbia University Press. All rights reserved.

http://www.infoplease.com/encyclopedia/history/clayton-antitrust-act.html

Clayton Antitrust Act

1915

J.P. Morgan arranges the biggest foreign loan in history  a $500 million Anglo/French loan. https://www.jpmorgan.com/pages/company-history

NEW  1915: During WWI, J.P. Morgan & Co.in New York arranges the largest foreign loan in Wall Street history – a $500 million dollar Anglo-French loan – and acts as purchasing agent in the United States for the Allies.  In this capacity, J.P. Morgan places over $3 billion worth of contracts with American suppliers.
https://www.jpmorgan.com/FR/en/about-us

 

1916

NEW  1916: 14, Place Vendome is bought by J.P.Morgan & Co. The building was designed by architect Jules Mansard and erected in the late 17th century. The façade is now designated a national monument. https://www.jpmorgan.com/FR/en/about-us

1917

FIRST NATIONAL CITY BANK OF NEW YORK

FIRST NATIONAL CITY BANK OF NEW YORK
This institution has been renamed (see Institution History). The current information is:
CITIBANK, N.A.
701 EAST 60TH STREET NORTH
SIOUX FALLS, SD, UNITED STATES 57104

Institution Type: National Bank
Primary Federal Regulator: OCC Insurance: FDIC/DEPOSIT INSURANCE FUND
RSSD ID: 476810 FDIC Certificate #: 7213
Routing Transit Number (RTN): 021000089

Activity: COMMERCIAL BANKING



http://www.ffiec.gov/nicpubweb/nicweb/InstitutionProfile.aspx?parID_Rssd=476810&parDT_END=19620118

Institution History for CITIBANK, N.A. (476810)

7 institution history record(s) found. < Previous Page 1 Next >

Event Date Historical Event
1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank.
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK.
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY.
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY.
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY.
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV.
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD.

http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231


Institutions Acquired by CITIBANK, N.A. (476810)
View additional information for an institution by selecting that institution.

19 Institution(s) Found < Previous Page 1 Next>
 
Name (RSSD ID)          Acquisition Date      Description

CAL FED HOLDINGS, INC. (3158498) 2012-06-19 The acquired institution sold its assets to the acquiring institution.
CITICORP TRUST BANK, FSB (374112) 2012-01-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION (486752) 2011-07-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK INTERNATIONAL (545538) 2007-01-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK (WEST), FSB (3119145) 2006-10-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK DELAWARE (490115) 2006-10-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK TEXAS, NATIONAL ASSOCIATION (1363270) 2006-10-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK, FEDERAL SAVINGS BANK (2132660) 2006-10-01 The acquired institution sold its assets to the acquiring institution.
CITICORP TRUST, NATIONAL ASSOCIATION (596361) 2006-10-01 The acquired institution sold its assets to the acquiring institution.
CITIBANK (NEW YORK STATE) (536219) 2003-08-30 The acquired institution sold its assets to the acquiring institution.
UNIVERSAL CARD SERVICES CORP. (2702979) 2002-01-03 The acquired institution sold its assets to the acquiring institution.
EUROPEAN AMERICAN BANK (736309) 2001-07-17 The acquired institution sold its assets to the acquiring institution.
BHN MULTIBANCO, S.A. (2509963) 1998-07-31 The acquired institution sold its assets to the acquiring institution.
GIROD TRUST COMPANY (633314) 1984-08-20 The acquired institution failed and disposition was arranged of by a regulatory agency. Assets were distributed to the acquiring institution.
BANCO REGIONAL DE AHORRO DE BAYAMON (219316) 1982-06-12 The acquired institution failed and disposition was arranged of by a regulatory agency. Assets were distributed to the acquiring institution.
CITIBANK (MID-HUDSON) N.A. (220107) 1976-01-02 The acquired institution sold its assets to the acquiring institution.
CITIBANK (SUFFOLK) NATIONAL ASSN (935803) 1976-01-02 The acquired institution sold its assets to the acquiring institution.
FIRST NATIONAL CITY TRUST COMPANY (471413) 1963-01-16 The acquired institution sold its assets to the acquiring institution.
RICHMOND COUNTY NATIONAL BANK OF PORT RICHMOND (1017818) 1962-11-05 The acquired institution sold its assets to the acquiring institution.
Page 1 of 1

http://www.ffiec.gov/nicpubweb/nicweb/AcquisitionForm.aspx?parID_RSSD=476810&parDT_END=99991231


Citibank USA, National Association
701 East 60th Street, North
Sioux Falls,SD 57104


FDIC Certificate #: 16100 Date Established: 11/9/1943
Bank Charter Class: National Bank Date of Deposit Insurance: 11/9/1943
Primary Federal Regulator: Office of the Comptroller of the Currency Demographic Information Report
Primary Internet Web Address: Web site not available. Generate History Information


This is an inactive institution.
Inactive as of: October 1, 2006
Closing history: Merged without Assistance into
Acquiring institution: Citibank (South Dakota), N.A. - (23360)

https://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=16100

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Citibank USA, National Association
701 East 60th Street, North
Sioux Falls, SD 57104
FDIC Certificate #: 16100 Bank Charter Class: N

Definition

Dollar figures in thousands
Citibank USA, National Association
Sioux Falls, SD
September 30, 2006

Citibank USA, National Association
Sioux Falls, SD
September 30, 2005

Assets and Liabilities
1 Total employees (full-time equivalent) 1,184 1,350
2 Total assets 7,374,155 6,944,792
3 Cash and due from depository institutions 163,789 305,238
4 Interest-bearing balances 3,060 686
5 Securities 99 99
6 Federal funds sold & reverse repurchase agreements 0 0
7 Net loans & leases 6,513,754 5,838,552
8 Loan loss allowance 100,246 104,833
9 Trading account assets 0 0
10 Bank premises and fixed assets 2,174 3,387
11 Other real estate owned 0 0
12 Goodwill and other intangibles 231,210 295,229
13 All other assets 463,129 502,287
14 Total liabilities and capital 7,374,155 6,944,792
15 Total liabilities 6,564,655 6,093,346
16 Total deposits 1,612,004 1,370,484
17 Interest-bearing deposits 1,086,188 1,170,570
18 Deposits held in domestic offices 1,612,004 1,370,484
19 % insured N/A N/A
20 Federal funds purchased & repurchase agreements 1,071,000 384,500
21 Trading liabilities 0 0
22 Other borrowed funds 2,770,000 2,875,000
23 Subordinated debt 200,000 200,000
24 All other liabilities 911,651 1,263,362
25 Total equity capital 809,500 851,446
26 Total bank equity capital 809,500 851,446
27 Perpetual preferred stock 0 0
28 Common stock 1,000 36
29 Surplus 605,165 606,082
30 Undivided profits 203,335 245,328
31 Noncontrolling interests in consolidated subsidiaries N/A N/A
Memoranda:
32 Noncurrent loans and leases 88,060 61,744
33 Noncurrent loans that are wholly or partially guaranteed by the U.S. government 0 0
34 Income earned, not collected on loans 72 996
35 Earning assets 6,516,913 5,839,337
36 Long-term assets (5+ years) 8,717 10,219
37 Average Assets, year-to-date 6,961,637 6,077,780
38 Average Assets, quarterly 7,247,379 6,532,333
39 Total risk weighted assets 7,576,290 6,888,122
40 Adjusted average assets for leverage capital purposes 6,975,435 6,018,883
41 Life insurance assets 0 N/A
42 General account life insurance assets N/A N/A
43 Separate account life insurance assets N/A N/A
44 Hybrid life insurance assets N/A N/A
45 Volatile liabilities 2,751,621 2,364,302
46 Insider loans 1,037 1,295
47 FHLB advances 0 0
48 Loans and leases held for sale 0 0
49 Unused loan commitments 438,272,725 398,461,598
50 Tier 1 (core) risk-based capital 671,196 668,814
51 Tier 2 risk-based capital 294,772 286,333
52 Total unused commitments 438,272,725 398,461,598
53 Derivatives 0 0
Total assets and liabilities in foreign offices
Restructured Loans and leases
Past due and nonaccrual assets
Fiduciary and related services
Carrying amount of assets covered by FDIC loss-share agreements

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Citibank USA, National Association
701 East 60th Street, North

Sioux Falls, SD 57104
FDIC Certificate #: 16100 Bank Charter Class: N

Definition

Demographic Information

February 12, 2015

September 30, 2006

September 30, 2005

1 Status Inactive Active Active
2 Bank Holding Company (Regulatory Top Holder) See Note! CITIGROUP INC. CITIGROUP INC.
3 Certificate# 16100 16100 16100
4 Federal Reserve ID Number 112855 112855 112855
5 Institution Name Citibank USA, National Association Citibank USA, National Association Citibank USA, National Association
6 City,State,Zip Sioux Falls, SD, 57104 Sioux Falls, SD, 57104 Sioux Falls, SD, 57104
7 Number of Domestic Offices 1 1
8 Number of Foreign Offices N/A N/A
9 Interstate Offices No No
10 Summary Of Deposits June 30, 2006 June 30, 2005
11 Current List of Total Offices
12 Asset Concentration Hierarchy Commercial Lending Specialization Commercial Lending Specialization
13 Subchapter S Corporation No No
14 County Minnehaha Minnehaha Minnehaha
15 Metropolitan Statistical Area Sioux Falls, SD Sioux Falls, SD Sioux Falls, SD
16 Established Date November 9, 1943 November 9, 1943 November 9, 1943
17 Date of Deposit Insurance November 9, 1943 November 9, 1943 November 9, 1943
18 Last Structure Change Process Date October 18, 2006
19 Last Structure Change Effective Date October 1, 2006
20 Ownership Type Stock Stock
21 Directly Owned by Another Bank?(CERT) No No
22 Trust Powers Granted N/A Yes Yes
23 Bank Charter Class National Bank National Bank National Bank
24 Regulator OCC OCC OCC
25 Insurance fund membership DIF DIF BIF
26 FDIC Quarterly Banking Profile Region Kansas City Kansas City Kansas City
27 FDIC Geographic Region Kansas City Kansas City Kansas City
28 FDIC Supervisory Region New York NEW YORK NEW YORK
29 FDIC Field Office Sioux Falls Sioux Falls Sioux Falls
30 Federal Reserve District Minneapolis Minneapolis Minneapolis
31 Office of the Comptroller of the Currency District Western Western Western
32 Primary Web Address Web site not available. N/A N/A

https://www2.fdic.gov/idasp/main2.asp

Bank Holding Company (Regulatory Top Holder)
Regulatory top holder is assigned by the Federal Reserve Board based on ownership and control percentages. Note: The FDIC is only provided this information as of each quarter-end.

Regulatory top holder is any company that ?directly or indirectly owns, controls or has power to vote 25 percent or more of a bank's or direct holding company's shares or
?controls in any manner the election of a majority of the directors or trustees of a bank or direct holding company or
?exercises a controlling influence over the management or policies of a bank or direct holding company.
Information on Thrift Holding Companies that own Savings Associations but do not own banks is not currently available in the ID System.

Source: Federal Reserve Board National Information Center data base.

|https://www2.fdic.gov/idasp/main2.asp

Mutual Ownership Flag
Banking institutions fall into one of two ownership types, stock or non-stock.
A non-stock institution, or mutual institution, is owned and controlled solely by its depositors. A mutual does not issue capital stock.
An institution which sells stock to raise capital is called a stock institution. It is owned by the shareholders who benefit from profits earned by the institution.

https://www2.fdic.gov/idasp/main2.asp 

NEW   1917: Guaranty Trust Company of New York (a firm predecessor) opens Paris office at 1 and 3 Rue des Italiens.
https://www.jpmorgan.com/FR/en/about-us

 

1918

Although Warburg left the Federal Reserve Board in 1918, he continued to serve the Federal Reserve as a member of the Federal Advisory Council (1921-26). He resumed his activities in business and philanthropic circles as well. For example, he founded and was the first chairman of the Executive Committee of the American Acceptance Council in 1919. In 1921, he organized the International Acceptance Bank to promote US government financing of reconstruction in Europe following the war.

Warburg was also a director of the Council on Foreign Relations (1921-32), a trustee of the Institute of Economics (1922-27), and a trustee of the Brookings Institution after it merged with the Institute of Economics in 1927. He also helped establish the Carl Schurz Memorial Foundation in 1930. He served at various times as a director of the Baltimore and Ohio Railroad, Union Pacific Railroad, and Western Union Telegraph Company. Warburg was also a director of the Julliard School of Music and a trustee of Tuskegee College.

Warburg continued to take an active interest in the nation?s monetary affairs and banking system. In March 1929, he warned that the wild stock speculation resulting from stock price increases and improper bank lending practices would have disastrous results if left unchecked. On October 29 of that year, the stock market crashed.


Throughout his career, Warburg was a prolific writer. Most notable among his published works was a two-volume set on the Federal Reserve System published in 1930. The Yale University Library (Manuscripts and Archives) is the repository for Warburg?s papers dating from 1904 to 1932. The collection includes 169 volumes on banking and finance.

Warburg died at his home in New York in 1932. At the time of his death, he was chairman of the Manhattan Company and a director of the Bank of Manhattan Trust Company, Farmers Loan and Trust Company of New York, and First National Bank of Boston.

Written by the Board of Governors of the Federal Reserve System.
https://www.federalreservehistory.org/people/paul-m-warburg

NEW

From about 1517 to 1917, the Ottoman Empire ruled much of the region. When World War I ended in 1918, the British took control of Palestine.

The British Mandate for Palestine (1918-1948) was the outcome of several factors: the British occupation of territories previously ruled by the Ottoman Empire, the peace treaties that brought the First World War to an end, and the principle of self-determination that emerged after the war.

 Background

By the time Britain conquered Palestine at the end of 1917, it had made several conflicting
agreements to gain support from various groups in the Middle East. These included: the Husayn-
McMahon Correspondence (1915-1916), a series of letters exchanged during World War I in which
the British government agreed to recognize Arab independence after the war in exchange for Husayn
ibn Ali, King of Hejaz (c. 1853-1931) launching the Arab Revolt against the Ottoman Empire; the
Sykes-Picot Agreement (1916), which divided the Middle East into British and French spheres of
influence; and the Balfour Declaration (1917), in which the British government committed itself to a
“national home” for the Jewish people.

Before the British occupation, Palestine was part of Ottoman Syria. The British army ruled Palestine
until a civil administration was established on 1 July 1920. Britain was granted a Mandate for
Palestine on 25 April 1920 at the San Remo Conference, and, on 24 July 1922, this mandate was
approved by the League of Nations.

https://encclopedia.1914-1918-online.net/article/british_mandate_for_palestine

LET'S COMPARE TWO SOURCES OF WORLD HISTORY

Turkey in Asia- Before the World War of 1914-1918, the Turkish Empire embraced a small part of Europe
and much of southwestern Asia, including Asia Minor. Armenia, Mesopotamia, Syria,Palestine ,
and the west coast of Arabia. In the war the Turks lost control of all their landsin Asia  except the
greater part of Asia Minor.  
Source : page 219 ESSENTIALS of GEOGRAPHY, First Book by Albert Perry Brigham, A.M.,Sc. D
and Charles T. McFarlane, Ph.D ,American Book Company published 1920

NOTE: Isn't history interesting? It took two world wars (and murdering millions of innocent human beings)
to turn Israel into a country. Imagine that!

Jews are not my gods chosen people.  -Jan Tetstone

1919

   NEW   treaty of peace with germany - Read about  who sold Palestine [Gaza] out.... for the Jews    Incase you missed it  

On November 2, 1917, Foreign Secretary Arthur James Balfour writes an important letter to Britain?s most illustrious Jewish citizen, Baron Lionel Walter Rothschild, expressing the British government's support for a Jewish homeland in Palestine. The letter would eventually become known as the Balfour Declaration.

Britain?s support for the Zionist movement came from its concerns regarding the direction of the First World War. Aside from a genuine belief in the righteousness of Zionism, held by Lloyd George among others, Britain?s leaders hoped that a statement supporting Zionism would help gain Jewish support for the Allies.


On November 2, Balfour sent his letter to Lord Rothschild, a prominent Zionist and a friend of Chaim Weizmann, stating that: "His Majesty's Government view with favor the establishment in Palestine of a national home for the Jewish people."

The influence of the Balfour Declaration on the course of post-war events was immediate: According to the "mandate" system created by the Versailles Treaty of 1919, Britain was entrusted with the administration of Palestine, with the understanding that it would work on behalf of both its Jewish and Arab inhabitants.
https://www.history.com/this-day-in-history/the-balfour-declaration

 At the intersection of Field and Grand Streets in Waterbury is the former Waterbury National Bank Building, now the headquarters for Junior Achievement of Southwestern New England. Built in 1919-1922. The Chase family had a long association with the Waterbury National Bank, which was founded in 1848 and was Waterbury's first bank. The Bank?s original building was located at Grand and Bank Streets, giving the latter thoroughfare its name. Henry S. Chase intended the new bank building to be part of his plan for an impressive Waterbury municipal center. Henry died in 1918 and his brother Irving Chase assumed management of construction, utilizing Cass Gilbert, the same architect who had designed the Chase Brass and Copper Company?s headquarters, also located on Grand Street. http://historicbuildingsct.com/?p=6906    

BRED is the most important cooperative bank in France. It was founded in 1919 by Louis-Alexandre Dagot in Vincennes.

NEW  1919: Morgan Harjes, J.P. Morgan’s Paris partnership, officially occupies 14, Place Vendome. https://www.jpmorgan.com/FR/en/about-us

 NEW   Citi has had a presence in Belgium since 1919.
    Today, Citi Belgium’s Institutional Clients Group provides comprehensive financial solutions to its corporate and institutional clients in Belgium, which include major companies, financial institutions, public entities and subsidiaries of foreign multinational companies.  https://www.citigroup.com/citi/about/countries-and-jurisdictions/belgium.html

J.P. Morgan in Belgium
Local expertise. Global resources. Our commitment to Belgium.
Our presence in Belgium dates back to 1919, when a predecessor firm opened a branch in Brussels, and we were the first American bank to be established in the country. We offer products and services across Asset Management and the Corporate and Investment Bank.  https://www.jpmorgan.com/BE/en/about-us

 

1920

Founded in Evansville, Indiana in 1920, Springleaf Financial Services provides loans and other credit related products to more than half a million families in 26 states. We provide bill consolidation loans, personal loans, home improvement loans, loans for unexpected expenses and vacations. For 90+ years, Springleaf Financial Services has provided the personal lending products our customers need and when they need it.

 

New York Commercial Bank traces its roots to the mid 1920s, when our Atlantic Bank division was established to meet the needs of consumers and small businesses in the city of New York. Today, New York Commercial Bank has 30 branches, including 18 that operate under the name Atlantic Bank.  https://www.mynycb.com/Pages/AboutUs.aspx

Barclays invests in William Morris, helping him to become the biggest UK car manufacturer  http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

1921

Note: The Chinese Communist Party, officially the Communist Party of China, is the founding and sole ruling party of the People's Republic of China. The CCP leads eight other legally permitted subordinate minor parties together as the United Front.
Founded: July 23, 1921

JPMorgan has been doing business in China since 1921. Our integrated financial services include investment and corporate banking, wholesale payments, markets, sales and research, securities services, commercial banking and asset management. Today, we serve Chinese and international corporations, financial institutions and government agencies through our network in Beijing, Shanghai, Tianjin, Guangzhou, Chengdu, Harbin, Suzhou and Shenzhen.  https://www.jpmorganchina.com.cn/en/about-us    (see 1962)

1921-1929  The ?Roaring 20?s?  The Federal Reserve Floods the Economy with Cash and Credit

From 1921 to 1929 the Federal Reserve increased the money supply by $28 billion, almost a 62% increase over an eight-year period.[3] This artificially created another ?boom?.
http://www.thrivemovement.com/banking-history-timeline-follow-money

The Harvard branch of the Ku Klux Klan was founded in 1921, according to university archives, consistent with when Klan membership reached its peak in the 1920s. Though the KKK was founded after the Civil War and had its stronghold in the Deep South, its second incarnation in the 20th century was spread throughout the whole of the United States, including enclaves such as Cambridge, Mass.https://www.washingtonpost.com/history/2021/03/30/harvard-klan-photo/ BANKER GEORGE j. BRYTE FOUND DEAD *v Financier Believed to Have Committed Suicide While Insane Body Found by W. A. Forbes on Floor oi Closet With Rope Around Neck. Large Property Holder and Prominent In the Development of Sacramento and Cosumnes District. .

-----------------------------------------------------------------------------------------

 George J. Rryte. 51, third vice-president of the California Trust and Savings Rank, was found dead in a closet in his home, 42, Eleventh street, shortly after 7 o'clock last night by his brother-in-law \\ . H. Forbes, under circumstances indicating suicide.

The dead man was in a semi-prone position with a bathrobe cord wound tightly around his neck and the other end attached to a door knob. APPARENT SUICIDE. Forbes said that Rryte apparently had tied the cord arotrod hts neck, fastened it to the door knob and dropped to the floor, thus causing death from strangulation.

Some six months ago deceased suffered from a nervous collapse and it is believed that he comnitted the deed during a recurrence of the trouble.

When discovered, Rryte was breathing slightly. The cord was quickly untied but the unfortunate man gave a fe-w gasps and died.

 Relatives had been watching Rryte during the past fortnight, iearmg that he might attempt to take his life.

PROMINENT BANKER. Rryte was formerly president of the Sacramento Valley Bank and I rust Company. \\ hen the California National Bank and the tormer banking company merged in 1920, he became an office holder of the California I rust and Savings Bank.

 A seven-story building at Seventh and j streets bears his name, and he owned much other city property. Br\te was prominently identified with the development of the Cosumnes river district, where he had large holdfngs of land etore gomg into the banking business he conducted a large dairy near Flvas.

 The family has been prominent in Sacramento countv lor two generations. The body is at the undertaking parlors of Clark, Booth and  Yardley.

LEAVES FAMILY. Brytewas the husband of Mrs. Georgia Brvte and the father of George J. Bryte, Jr., Ethel M., Ruth A. and Thomas. \\ c wa * the of the late Mike and Elizabeth Brvte. brother oi Mike Bryte, Mrs. Charles Schwilk and Mrs. W. F. Peterson oi ban Francisco.

 Dr. E. J' Rulison, the family physician, said deceased had been despondent for some time following his illness. \\ . E. Gerber, president of the California National Rank said the news was a terrible blow.

 Expressions of sympathy were numerous. H E Yardlev  Ct d f IS 6 e en era sentiment when he said the dead banker was one of the most wdiole-souled men he'ever knew.
https://cdnc.ucr.edu/?a=d&d=SU19210329.2.20&e=-------en--20--1--txt-txIN--------1

 

1923

The Trump Organization is a group of about 500 business entities of which Donald Trump is the sole or principal owner. About 250 of these entities use the Trump name. The organization was founded in 1923 by Donald Trump's grandmother, Elizabeth Christ Trump, and father, Fred Trump, as E. Trump & Son.
Founded: 1923

 

1924

NEW The New York Fed?s gold vault is on the basement floor of its main office building in Manhattan. Built during the construction of the building in the early 1920s, the vault provides account holders with a secure location to store their monetary gold reserves.

None of the gold stored in the vault belongs to the New York Fed or the Federal Reserve System. The New York Fed acts as the guardian and custodian of the gold on behalf of account holders, which include the U.S. government, foreign governments, other central banks, and official international organizations. No individuals or private sector entities are permitted to store gold in the vault. https://www.newyorkfed.org/aboutthefed/goldvault.html
 

1/1/1924 Roosevelt Federal Savings and Loan Association (28389)was established. http://research.fdic.gov
NEW Letter from the Senior Country Officer
J.P. Morgan?s history in Japan dates back to 1924, the year after the Great Kanto Earthquake when J.P. Morgan underwrote disaster recovery bonds issued by the Japanese government. Since then, Japan has been one of the most important markets for the firm. J.P. Morgan provides various services through JPMorgan Securities Japan Co., Ltd., JPMorgan Chase Bank N.A., Tokyo Branch, and JPMorgan Asset Management (Japan) Limited to corporate clients, financial institutions and government agencies. 

https://www.jpmorgan.co.jp/en/local-presence

1925

Barclays Bank D.C.O. is established with over 1,350 offices across 41 countries. http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

THE UNITED STATES CORPORATION COMPANY

Note: Corporate documents for The United States Corporation are on file in the State of Florida.  Sunbiz.org 

1925: Central Union Trust Co. (a predecessor firm) opens a representative office. The office becomes a full service branch in 1938.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history 

1925: Central Union Trust Co. (a predecessor firm) opens a representative office. The office becomes a full service branch in 1938.  https://www.jpmorgan.com/GB/en/about-us

 

Albert Gordon, Who Rebuilt Kidder Peabody, Dies at 107
By DOUGLAS MARTIN
Published: May 1, 2009

Albert H. Gordon, who helped pick up the pieces of a shattered Kidder Peabody after the 1929 Wall Street crash and built the firm into what Forbes magazine called a minor powerhouse on Wall Street,? died Friday at his home in Manhattan. He was 107.

Albert H. Gordon, an ?minence grise of Wall Street, in 2006.
His son John announced the death.

Mr. Gordon lived to become an minence grise of the investment community, began running marathons in his 80s and at his death was the oldest graduate of both Harvard College and Harvard Business School, according to Harvard Magazine. In 1960, Fortune magazine listed Mr. Gordon as one of the 10 most powerful men on Wall Street and as the financial community?s most successful underwriter and salesman. It noted that he ordered his men to read The Elements of Style, written by William Strunk Jr. in 1918 and revised by E. B. White in 1959, to improve their reports.

Mr. Gordon used his charm, powerful friends like Armand Hammer of Occidental Petroleum and legendary energy to chase deals. John C. Whitehead, former chairman of Goldman Sachs, called Mr. Gordon ?a famous business-getter.? In ruling that the investment industry did not violate federal antitrust laws in 1953, Judge Harold R. Medina noted the industriousness of Kidder. He said Mr. Gordons firm had ?forged its way strictly on the merits from a minor position in 1931 to that of one of the countrys leading underwriters.

Mr. Gordon arrived on Wall Street in 1925 as a new Harvard Business School graduate, to take a job as a statistician with Goldman. He traveled an immense territory selling commercial paper; he was on a train 12 nights out of 14. (He was later one of the first investment bankers to fly.)

In those days, investment bankers strove for decorum.

?We wore silk collars,? he said in an interview with National Public Radio in 2004. ?We wore hats. We took ourselves seriously.? Kidder itself was a respected Wall Street institution when Mr. Gordon arrived in 1931. The firm had been prominent in the early financing of the American Telephone and Telegraph Company.

But two years after the crash, it was broke. J. P. Morgan & Company arranged financing that included a cash infusion from the Webster family of Stone & Webster, the engineering company. Frank Webster had led Kidder for most of the first third of the 20th century.

The reconstituted Kidder had three principals: Edward S. Webster Jr., Frank?s grandson and Mr. Gordon?s Harvard classmate; Chandler S. Hovey, who led a Boston investment bank, and Mr. Gordon, who, at 29, was the youngest.

Kidder came back. From 1960 to 1964, it ranked second among all investment banking concerns in a category of securities offering, The New York Times reported in 1965.

Mr. Gordon was chairman and a large shareholder of Kidder in 1986 when General Electric bought the business. Under G.E., Kidder floundered and ended up selling most of its assets to the competing PaineWebber Group in 1994. Mr. Hovey retired in 1952, and Mr. Webster died in 1957.

Albert Hamilton Gordon was born in the community of North Scituate, Mass., on July 21, 1901. His father, after working as a sheepherder in Wyoming, had moved east to become a successful leather merchant, supplying the British Army in World War I.

The younger Mr. Gordon graduated from Roxbury Latin School, where he broke his nose playing football. He graduated cum laude from Harvard College in 1923 with distinction in economics. He ranked third in his class at Harvard Business School. Arriving in New York, he shared an apartment with four or five friends, who embraced the local popular culture, including speakeasies, flappers and Babe Ruth. We were having a very, very good time, Mr. Gordon told NPR.

At his first job with Goldman Sachs, he got a $2 million deal from National Dairy Products, a predecessor of Kraft Foods. He was entitled to a substantial commission, but his boss took all the credit. Mr. Gordon learned an important lesson, he told Forbes in 2000, You can't retain employees if you don't spread credit around.

The Times reported in 1989 that Mr. Gordon had imbued Kidder with "an air of positive gentility, giving employees a free hand to pursue deals." He also gradually sold back ownership of the firm to its workers, to signal that he would not challenge the new management he had recruited. He did not want anyone to think of him as "that greedy old bastard," he told Business Month in 1989.

As one of the oldest surviving Wall Street veterans of the crash of 1929, Mr. Gordon was often asked to reflect on how he thought it had happened. In 1987, he told The Nation magazine, "Young men thought they could do anything."

Mr. Gordon became something of a legend for his dedication to physical fitness, which he believed explained his longevity. He took one puff of a cigarette in his life, he said, didn?t salt his food and limited his alcohol intake to a glass of Champagne a year.

He was twice the oldest participant in the London marathon and sometimes walked from airports to his hotel. He made cold calls to prospective clients well into his 90s. At 105, he was still working four days a week at Deltec Asset Management.

Mr. Gordon was a past president of the Harvard Club of New York, and his generosity to Harvard is evident in the Albert H. Gordon Track and Tennis Center there, as well as a professorship at the business school. The New York Road Runners named its library and an annual race after him.

Mr. Gordon?s wife, the former Mary Rousmaniere, died in 1980. He is survived by his sons, Albert F. and John R., both of Manhattan, and Daniel F., of Philadelphia; his daughters, Mary Gordon Roberts and Sarah F. Gordon, both of Manhattan; 12 grandchildren; and three great-grandchildren.

In the 1960s and 70s, Mr. Gordon offered cash rewards to employees who quit smoking. He always flew economy, and when he noticed a young Kidder vice president sitting in first class, Financial News reported in 2001, he penciled a note for a flight attendant to pass on.

"?What is the food like up there?" it read.

More Articles in Business  A version of this article appeared in print on May 2, 2009, on page A14 of the New York edition.


http://www.nytimes.com/2009/05/02/business/02gordon.html?_r=0

Kidder Faces Life After Siegel


1926

In 1926 the Bank of Charleston merged with local banks in Greenville and Columbia to form the South Carolina National Bank, which will be absorbed by Wachovia in the mid-1990s. 
http://www.nps.gov/nr/travel/charleston/sbc.htm 

Citi has had a presence in Germany since 1926 when the City Bank of New York opened its first office in Berlin. This office was a precursor to today's Institutional Clients Group (ICG) business, located in Frankfurt.

Citi ICG
Frankfurter Welle
Reuterweg 16
60323 Frankfurt

https://www.citigroup.com/citi/about/countries-and-jurisdictions/germany.html#:~:text=Citi%20Germany%20is%20part%20of,for%20syndicated%20loans%20and%20lender.
 

1927

1927: The Dillon, Read & Co. bank places a $ 25 million bond by Deutsche Bank on the American market. https://www.db.com/usa/content/en/Chronicles.html

Guaranty Trust Company, a predecessor firm of J.P. Morgan, pioneers the concept of American Depositary Receipts (ADRs), which enables Americans to invest in foreign securities directly on U.S. exchanges.  https://www.jpmorgan.com/pages/company-history

NEW  1927: Central Union Trust Co. (a firm predecessor) opens a representative office at 22, Place Vendome. https://www.jpmorgan.com/FR/en/about-us

NEW  1927: Morgan Harjes & Co. is renamed Morgan & Cie.http://https://www.jpmorgan.com/FR/en/about-us

 

 

1928

Our history in Germany dates back to 1928, when we opened a representative office. Post-World War II, we were the first foreign bank to re-open branches in Germany in 1947. We offer clients products and services from our corporate and investment bank, asset management, private banking as well as commercial solutions. https://www.jpmorgan.com/DE/en/about-us
 

From 1928 to 1946, the $10,000 bill was printed and circulated with Salmon Chase's face on it. http://www.philstockworld.com/tag/10000-bill/ 

NEW  1928: Chase National Bank (a firm predecessor) opens a representative office in Paris. https://www.jpmorgan.com/FR/en/about-us

 

1929

 

Docu - The Crash of 1929
1,238,490 views?Dec 12, 2019

Olivier Bossard on Finance
31.9K subscribers
A PBS documentary that examines the stock market crash of 1929 with interviews from descendants of several Wall Street insiders.
Writer: Ronald Blumer - this post is for educational purposes only. - Olivier BOSSARD                   
https://www.youtube.com/watch?v=FAZjlxWNszw

Albert Gordon , helps pick up the pieces of a shattered Kidder Peabody after the 1929 Wall Street crash.

Two Ohio institutions merge to form City National Bank & Trust, a predecessor of Bank One.    https://www.jpmorgan.com/pages/company-history

Frank Russell's brother Fred Lee Russell found dead in his car ...www.newspapers.com   ...  1929  Jan  31  Page 6
Clipping found in The Daily Independent in Murphysboro, Illinois on Jan 31, 1929. Frank Russell's brother Fred Lee Russell found dead in his car. ...

1921-1929  The ?Roaring 20?s? ? The Federal Reserve Floods the Economy with Cash and Credit

From 1921 to 1929 the Federal Reserve increased the money supply by $28 billion, almost a 62% increase over an eight-year period.[3] This artificially created another ?boom?.
http://www.thrivemovement.com/banking-history-timeline-follow-money
 
1929  Federal Reserve Contracts the Money Supply

In 1929, the Federal Reserve began to pull money out of circulation as loans were paid back. They created a ?bust? which was inevitable after issuing so much credit in the years before. The Federal Reserve?s actions triggered the banking crisis, which led to the Great Depression.
http://www.thrivemovement.com/banking-history-timeline-follow-money

October 24, 1929 Black Thursday, Stock Market Crash https://www.investopedia.com/terms/b/blackthursday.asp

The most devastating stock market crash in history. Billions of dollars in value were consolidated into the private banker?s hands at the expense of everyone else.
http://www.thrivemovement.com/banking-history-timeline-follow-money


1930- Great Depression Begins http://www.thrivemovement.com/banking-history-timeline-follow-money


1929-1933- Federal Reserve Reduces Money Supply by 33% http://www.thrivemovement.com/banking-history-timeline-follow-money
 

1929: Guaranty Trust office moves to 4, Place de la Concorde, where it occupies the Hotel Coislin. https://www.jpmorgan.com/FR/en/about-us

 

 

THE PAGAN NATION OF AMERICA WHICH IS ROME

1930

NEW  On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America. The bank today has the same national bank charter number as Giannini's old bank— 13044. https://www.occ.treas.gov/about/who-we-are/history/1866-1913/1866-1913-bank-of-america.html

 

The Bank for International Settlements (BIS) was established as an international financial
institution, enjoying special immunities, pursuant to the Hague Agreements of 20th January 1930.

The founder shareholding members were the central banks of Belgium, France, Germany, Italy,
Japan, the United Kingdom and the United States (the Federal Reserve did not take up its rights as
founder member until 1994).

Within two years of its founding, nineteen other European central
banks had subscribed to the Bank's capital. The Bank opened its doors in Basle, Switzerland on
17th May 1930.
http://www.bis.org/publ/bisp02a.pdf

 

Established on 17 May 1930, the Bank for International Settlements (BIS) is the world's oldest international financial organisation. The BIS has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP.

The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People's Republic of China and in Mexico City.
http://www.bis.org/about/index.htm
 

 NEW  J.P. Morgan has a committed and long-standing history of serving clients in the Middle East and North Africa (MENA) region dating back to the 1930s when our predecessor firm, Morgan Guaranty Trust Company, helped U.S.-based oil companies strengthen their operations in Saudi Arabia.
Major milestones in the firm's history in the Middle East:

    Follow J.P.Morgan on Linkedin Follow J.P.Morgan on Twitter Follow J.P.Morgan Chase & Co. on Facebook Follow J.P.Morgan on Instagram Follow J.P.Morgan on Youtube Follow J.P.Morgan on WeChat   https://www.jpmorgan.com/SA/en/about-us

1931

NEW  On September 21, 1931, Great Britain left the gold standard?that is, withdrew its promise to provide a specific amount of gold in exchange for its bank notes (Wicker 1996). Foreigners became concerned the United States would do the same and began converting their dollar assets to gold. This external drain caused a large reduction in the US gold supply. At the same time, depositors became concerned about the safety of banks and withdrew currency from their accounts, creating an internal drain on the banking system (Friedman and Schwartz 1963). Together, these external and internal drains reduced the money supply, deepening the deflation which propagated the depression.

The Federal Reserve Bank of New York responded to the external drain in the gold stock by raising its discount rate and acceptance buying rate in early October (Friedman and Schwartz 1963). The goal was to encourage investors to deposit money in the United States by providing a relatively higher relative yield on US financial assets (Wheelock 1992). According to Friedman and Schwartz, the internal drain wouldn?t have been so severe if the Fed had increased open market purchases as well.

Although the external drain on the US gold stock ended by late October, bank failures continued. To try to relieve the strain in the banking system, in January 1932, the US Congress created the Reconstruction Finance Corporation (RFC), which had the authority to lend to banks, other financial institutions, and railroads. In addition, the Fed began a program of large-scale open market purchases in April 1932; by the time the program had ended in August, the Fed had purchased about $1 billion in government securities. During the first half of 1932, the bank failure epidemic ended (Friedman and Schwartz 1963).

Economic conditions improved by the summer of 1932, but relief did not last. The Midwest and West, especially, saw an increase in bank failures toward the end of 1932; in early 1933, a national panic arose. Many factors contributed to the national banking panic, including uncertainty over the economic policies of President Roosevelt, who was elected in November 1932 but did not take office until March 1933. Banks could have borrowed from the RFC but were reluctant to do so, in part because their names would be published and their action might be seen as a sign of weakness, which might then lead to a run on the bank (Friedman and Schwartz 1963).

A bank run on individual banks in a given state threatened other banks in that state. For this reason, states began declaring state banking holidays (Nevada was first, on October 31, 1932), which temporarily relieved banks of meeting their debt obligations. The spread of these statewide banking holidays increased the demand for currency in other states, with New York City banks feeling the most pressure. The Fed and commercial banks once again were concerned about a potential external drain of the US gold stock. During this period, fears that Roosevelt would devalue the currency led private banks and others with dollar assets to
accumulate foreign currencies (Friedman and Schwartz 1963). According to Wicker, following Michigan?s banking holiday, which was declared on February 14 after troubled Detroit banks were unable to secure loans from the RFC, the drain on gold reserves accelerated. (For additional information, see the Federal Reserve Board?s annual reportOffsite link for 1933.)

The Fed again raised discount rates and acceptance buying rates in February 1933, as it had during the fall of 1931, to help slow the drain on gold reserves. Interest rates rose across the board. But once again, the Fed did not increase its open market purchases significantly (Friedman and Schwartz 1963). In response to the large gold losses in New York, the Chicago Fed provided loans to the New York Fed on March 1 and 2, but refused the New York Fed?s request for another loan on March 3 out of concern for its own reserve ratio. The Federal Reserve Board then suspended the gold reserve requirement on March 3 (Wicker 1996). Rather than containing the panic, ?The System itself shared in the panic that prevailed in New York? (Friedman and Schwartz 1963, 327), and even the Federal Reserve Banks were closed on March 4. The crisis ended when Roosevelt declared a national bank holiday beginning March 6, 1933, and announced the suspension of gold shipments (Wheelock 1992).

According to Friedman and Schwartz, the Federal Reserve System as a whole had no policy in place in the two months leading up to the national banking holiday. Likewise, Wicker noted that the lack of agreement among the twelve Reserve Bank governors on a strategy (that is, more vigorous open market purchases) contributed to the need to suspend payments. Wicker also suggested that, rather than the RFC having lender-of-last-resort responsibilities, the Fed could have provided support to troubled banks whose failure would cause fear and uncertainty to spread (as was the case in Detroit).
https://www.federalreservehistory.org/essays/banking-panics-1931-33

 

1932

1932 ? First Boston Corporation
The First Boston Corporation is founded as a subsidiary of The First National Bank of Boston. In 1934 the First Boston Corporation becomes the first publicly held investment bank in the US. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1933

1933: Morgan Guaranty Trust Company helps U.S.-based oil companies strengthen operations in Saudi Arabia.
https://www.jpmorgan.com/EG/en/about-us

 

Securities Act of 1933

Securities Exchange Act of 1934

With this Act, Congress created the Securities and Exchange Commission. The Act empowers the SEC with broad authority over all aspects of the securities industry. This includes the power to register, regulate, and oversee brokerage firms, transfer agents, and clearing agencies as well as the nation's securities self regulatory organizations (SROs). The various securities exchanges, such as the New York Stock Exchange, the NASDAQ Stock Market, and the Chicago Board of Options are SROs. The Financial Industry Regulatory Authority (
FINRA) is also an SRO.

The Act also identifies and prohibits certain types of conduct in the markets and provides the Commission with disciplinary powers over regulated entities and persons associated with them.

The Act also empowers the SEC to require periodic reporting of information by companies with publicly traded securities.

The full text of this Act can be read at:
http://www.sec.gov/about/laws/sea34.pdf
.

Corporate Reporting

Companies with more than $10 million in assets whose securities are held by more than 500 owners must file annual and other periodic reports. These reports are available to the public through the SEC's EDGAR database.

Proxy Solicitations

The Securities Exchange Act also governs the disclosure in materials used to solicit shareholders' votes in annual or special meetings held for the election of directors and the approval of other corporate action. This information, contained in proxy materials, must be filed with the Commission in advance of any solicitation to ensure compliance with the disclosure rules. Solicitations, whether by management or shareholder groups, must disclose all important facts concerning the issues on which holders are asked to vote.

Tender Offers

The Securities Exchange Act requires disclosure of important information by anyone seeking to acquire more than 5 percent of a company's securities by direct purchase or tender offer. Such an offer often is extended in an effort to gain control of the company. As with the proxy rules, this allows shareholders to make informed decisions on these critical corporate events.

Insider Trading

The securities laws broadly prohibit fraudulent activities of any kind in connection with the offer, purchase, or sale of securities. These provisions are the basis for many types of disciplinary actions, including actions against fraudulent insider trading. Insider trading is illegal when a person trades a security while in possession of material nonpublic information in violation of a duty to withhold the information or refrain from trading.

Registration of Exchanges, Associations, and Others

The Act requires a variety of market participants to register with the Commission, including exchanges, brokers and dealers, transfer agents, and clearing agencies. Registration for these organizations involves filing disclosure documents that are updated on a regular basis.

The exchanges and the Financial Industry Regulatory Authority (FINRA) are identified as self-regulatory organizations (SRO). SROs must create rules that allow for disciplining members for improper conduct and for establishing measures to ensure market integrity and investor protection. SRO proposed rules are subject to SEC review and published to solicit public comment. While many SRO proposed rules are effective upon filing, some are subject to SEC approval before they can go into effect.

1934

Securities Exchange Act of 1934

Since 1934, the SEC has required disclosure in forms and documents. In 1984, EDGAR began collecting electronic documents to help investors get information. The SEC's new system requires data disclosure ? the next step to improve how investors find and use information.
http://www.sec.gov/edgar/searchedgar/webusers.htm#.VLxmWHTnb3g

1935

It?s in our DNA
Sustainability and commitment to community have been intrinsic to Webster since its founding. What is now known as Webster Bank was founded in 1935, during the Great Depression, by Waterbury, Connecticut native Harold Webster Smith. Mr. Smith started the bank with $25,000 borrowed from friends and family to help people buy and build homes.

Through the years that followed, Webster grew, reaching $1 million in assets by 1938. We were the first bank to offer GI and FHA loans in Connecticut and today we are a leading SBA lender to small businesses, women, and minority businesses. The Corporation?s dedication to the communities it serves remained strong after it went public in 1986. We continued to grow over the ensuing decades, broadening our geographic footprint to include Massachusetts, Rhode Island, and New York, remaining headquartered in Waterbury. Today, we have more than $32 billion in assets. https://www.sec.gov/Archives/edgar/data/801337/000119312521086796/d104513ddef14a.htm

 

Henry Morgan, founded Morgan Stanley in 1935

Is Morgan Stanley The Same As J.P. Morgan
While the naming may indicate that they are similar companies, they in fact are independent entities. J.P Morgan's grandson, Henry Morgan, founded Morgan Stanley in 1935. Morgan Stanley is another standalone investment bank and does not currently have any relations with J.P. Morgan.  https://www.wallstreetoasis.com/forums/difference-between-jp-morgan-and-jp-morgan-chase
NEW

1935: Land transferred for a depository
August - Congress authorizes the transfer of land in Fort Knox, Kentucky from the military to the Treasury. The Act
designates the land for use as a depository to store the country's precious metal bullion reserves.   https://www.usmint.gov/about/mint-tours-facilities/fort-knox

1936

1936: Building construction complete
December - Construction of the bullion depository is complete.
The building needs 16,000 cubic feet of granite; 4,200 cubic yards of concrete; 750 tons of reinforcing steel; and 670
tons of structural steel. The cost of construction is $560,000.                                     https://www.usmint.gov/about/mint-tours-facilities/fort-knox

1937 

1937: First shipment of gold
January 13 - Fort Knox receives its first shipment of gold from the Philadelphia Mint and New York Assay Office.  https://www.usmint.gov/about/mint-tours-facilities/fort-knox

1938

It?s in our DNA
Sustainability and commitment to community have been intrinsic to Webster since its founding. What is now known as Webster Bank was founded in 1935, during the Great Depression, by Waterbury, Connecticut native Harold Webster Smith. Mr. Smith started the bank with $25,000 borrowed from friends and family to help people buy and build homes.

Through the years that followed, Webster grew, reaching $1 million in assets by 1938. We were the first bank to offer GI and FHA loans in Connecticut and today we are a leading SBA lender to small businesses, women, and minority businesses. The Corporation?s dedication to the communities it serves remained strong after it went public in 1986. We continued to grow over the ensuing decades, broadening our geographic footprint to include Massachusetts, Rhode Island, and New York, remaining headquartered in Waterbury. Today, we have more than $32 billion in assets. https://www.sec.gov/Archives/edgar/data/801337/000119312521086796/d104513ddef14a.htm

1939

Trust Indenture Act of 1939
 

1939  Swissam
In July 1939 SKA creates the subsidiary Swiss American Corporation (New York), which focuses on the underwriting and investment business, as well as investment consultancy.  
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html
 

1940

Investment Company Act of 1940

1940  New York
SKA opens the New York Agency on May 9, 1940.  
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Despite bomb damage, Barclays branches remain open during the Blitz   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

NEW Commercial Credit Corporation
Filing Information
Document Number   139497
FEI/EIN Number    0000000000
Date Filed        08/17/1940
State             FL
Status            Inactive
Last Event        Voluntary Dissolution
Event Date Filed  06/14/1947
No more information as to address
Registered agent name address   NONE
Officers/Director Detail   NONE    
SOURCE: Sunbiz.org  FL corporation site
Source copy of filing information from sunbiz site
 

1941

1941: Breakdown of all bilateral business relations due to Germany's declaration of war.  https://www.db.com/usa/content/en/Chronicles.html

1942

1942: Fort Knox protects founding documents
Fort Knox stores the Declaration of Independence, Constitution, and Bill of Rights during World War II to protect them
from danger. In 1944 the documents are returned to Washington, DC.

Fort Knox has stored valuable items for other government agencies, including the Magna Carta, and the crown, sword,
scepter, orb, and cape of St. Stephen, King of Hungary before being returned to Hungary in 1978.    https://www.usmint.gov/about/mint-tours-facilities/fort-knox

1945

 

NEW     1945: Morgan & Cie incorporates after 77 years as a partnership.https://www.jpmorgan.com/FR/en/about-us

NEW Over and over again we have seen that there is another power than that which has it's seat at Westminster. The city of London, a convenient term for a collection of financial interests is able to assert itself against the government of the  country. Those who control money can pursue a policy at home and abroad contrary to that which is being decided by the people. -Clement Attlee UK Prime minster 1945-1951 https://www.youtube.com/watch?v=-YgFDZNXPyg

The United Nations was formed on October 24, 1945- Article 1 of the UN charter states four purposes:

(1) To maintain international peace and security

(2) To develop friendly relations among nations

(3) To achieve international co-operationin solving international problems

(4) To be a center for harmoning the actions of nations in the attainment of these common ends.:

1947

Our history[JPMorgan's] in Germany dates back to 1928, when we opened a representative office. Post-World War II, we were the first foreign bank to re-open branches in Germany in 1947. We offer clients products and services from our corporate and investment bank, asset management, private banking as well as commercial solutions. https://www.jpmorgan.com/DE/en/about-us
 

1948

Comerica Bank is a financial services company headquartered in Dallas, Texas with three business segments: The Business Bank, The Retail Band and Wealth Management. Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Subsidiaries of Comerica include Michigan Market of Comerica Bank, California Market of Comerica Bank, Texas Market of Comerica Bank, Comerica Bank ? Canada, Comerica Insurance Services, Inc., Comerica Leasing Corporation, and Comerica Securities, Inc.

History

Comerica traces its history back to the Detroit Savings Fund Institute founded in 1948 by Elon Farnsworth and also to the Manufacturers National Bank of Detroit, which merged with Comerica Bank in 1992. The bank has gone through a series of mergers and the current Comerica name was established in 1982. Comerica consolidated its bank charters in 2003 and moved its corporate headquarters to Dallas. https://golden.com/wiki/Comerica_Bank-N93V9

NEW  The ITU HQs  were moved from Berne to Geneva in 1948.
https://www.itu.int/en/history/Pages/ITUsHistory.aspx
 

1949

The Synagogue Of Satan 1949 ~ 1973, by Andrew Carrington Hitchcock

 

1950

1950: Winthrop Aldrich is the first top Chase Manhattan Bank executive to travel to the Middle East to meet rulers, senior government officials and businessmen in Jeddah, Dhahran, Cairo, Kuwait, Abadan and Tehran.

https://www.jpmorgan.com/EG/en/about-us

1953

    United States v. Morgan  The Seventeen Defendant Investment Banking Firms. 1. Morgan Stanley & Co. 2. Kuhn Loeb & Co. 3. Smith Barney & Co. 4. Lehman Brothers. 5. Glore Forgan & Co. 6. Kidder Peabody & Co. 7. Goldman Sachs & Co. 8. White Weld & Co. 9. Eastman Dillon & Co. 10. Drexel & Co. 11. The First Boston Corporation *626 12. Dillon Read & Co. Inc. 13. Blyth & Co., Inc. 14. Harriman Ripley & Co., Incorporated. 15. Stone & Webster Securities Corporation. 16. Harris Hall & Company (Incorporated). 17. Union Securities Corporation

1.  Morgan Stanley & Co.- It is not coincidental that JPMorgan and Morgan Stanley share the Morgan name. The firm today known as Morgan Stanley was founded in 1935, essentially as a spin-off from the original JPMorgan. This came about following the passage of the Glass-Steagal Act in 1933, which prohibited firms from conducting investment banking business under the same roof as commercial and consumer banking business.

Therefore, Henry S. Morgan (grandson of J. Pierpont Morgan, founder of the eponymous firm) joined together with Harold Stanley and select other partners to found Morgan Stanley as an investment banking concern. Since Morgan Stanley's founding, it has evolved entirely independently of the latter day JPMorgan Chase Co.

Chase Bank is also part of the picture - but represents just one thread of an almost impenetrably complex web of bank mergers and acquisitions over the last century and more.

Chase Bank was formed from the merger of Chase National Bank and The Manhattan Company in 1955, originally becoming Chase Manhattan Bank.

In 1996, Chemical Bank (then the 3rd largest bank in the United States by assets) acquired Chase Manhattan (retiring the Chemical name in the process), before merging in 2000 with JPMorgan & Co. to form today's JPMorgan Chase Co.


If you want to take a further trip down the rabbit hole of banking history (and, truly, it?s quite interesting if you like that sort of thing) you might look up yet another banking concern to bear the Morgan name: Morgan, Grenfell & Co. Part of the modern day Deutsche Bank, the ?Morgan? in this instance refers to Junius Spencer Morgan (father of J.P.)

https://www.quora.com/Are-JP-Morgan-Morgan-Stanley-and-Chase-Bank-all-related

William E. Duboise   and Communism   NEW

You Will Fall Like Over Ripe Fruit into our Hands [video below]

(Communist hands)

)

1954

It is the means whereby individuals
are seduced into the service of the world Communist movement,
trained to do its bidding, and directed and controlled in the conspiratorial performance of their revolutionary services. Therefore, the
Communist Party should be outlawed.

https://www.govinfo.gov/content/pkg/STATUTE-68/pdf/STATUTE-68-Pg775.pdf

 

1955

The Manhattan Company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. https://www.jpmorgan.com/pages/company-history  

1955: Chase Manhattan Bank opens branch in Beirut, Lebanon, its first in the region.
https://www.jpmorgan.com/EG/en/about-us


 NEW    We are the only U.S.-headquartered financial institution with two operating licenses in Saudi Arabia, providing access to a comprehensive range of products and global banking capabilities for clients in the country.  We are regulated by the Saudi Arabian Monetary Authority and the Capital Market Authority.

We have a committed and long-standing history of serving clients in the Middle East dating back to the 1930s when a predecessor firm helped U.S.-based oil companies strengthen their operations in Saudi Arabia. We opened our first branch in Beirut, Lebanon in 1955 and today we operate across offices in Abu Dhabi, Beirut, Cairo, Doha, Dubai, Manama and Riyadh.  https://www.jpmorgan.com/SA/en/about-us


1957

 Edwin Sibley Webster Jr. 57, banker Kidder, Peabody Co. found dead  from gun shot wounds

 

1958

Barclays appoints the UK's ?rst ever female branch manager     http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

1958: John Meyer Jr., future Morgan Guaranty Trust Company chairman, serves on the Saudi Arabian Monetary Agency's senior advisory committee, resulting in Morgan Guaranty becoming the major Saudi depository.
https://www.jpmorgan.com/EG/en/about-us

Citi Paraguay has pioneered offering quality financial services for more than six decades since its establishment in 1958. For more than 60 years, Citi has been committed to the economic, social and cultural development of Paraguay. Citi established and implemented the best financial products and services in the country and participated in one of the most significant projects for national development by funding landmark infrastructures. Citi has marked several milestones in Paraguayan history, becoming the first bank to introduce ATMs in the '60s as well as being the first institution to inaugurate the construction of the country's first intelligent building in the '90s.

Citi is also the only financial institution in the country that provides financial literacy programs as part of its social investment strategies. In addition, Citi is the only bank to have its own cultural center where it promotes the development of the country's arts and culture.

Citibank Paraguay
www.citibank.com/paraguay/

https://www.citigroup.com/citi/about/countries-and-jurisdictions/paraguay.html



1959

NEW    1959: J.P. Morgan & Co. merges with Guaranty Trust Company of New York to become Morgan Guaranty, consolidating operations of Morgan & Cie Inc. with those of the Guaranty Trust Company’s Paris office.  https://www.jpmorgan.com/FR/en/about-us

 On June 30, 1959, the outstanding long-term indebtedness of foreign governments and other foreign entries to the U.S. government was at a new high -- aggregating $12,795,358,000, excluding World War I debts.  (1960 Britannica Book of the Year, Events of 1959, page 711, United States)

Early in 1959 the board of governors of the federal reserve system turned down requests from certain commercial banks to raise the rate ceiling from 3% on time deposits. Such a rate was subject to competitive pressure from mutual savings banks and savings and loan associations and from high yields on short-term government securities. ...

The repeal by Congress of Section 13b of the Federal Reserve act became effective Aug. 21, 1959. As of that date, therefore, the federal reserve banks were no longer authorized to grant commitments to, and participate with, financing institutions in providing working capital for established industrial and commercial businesses, or to make direct loans or commitments to such businesses. (Britannica Book of the Year 1960, events  of 1959,page 253,Federal Reserve System)

-He mentioned the Banking and Currency Committee going to conference over the housing authority which allows for backdoor borrowing--"We won't have anybody in there to fight it." Banking and Currency is in favor, and the Senate is in favor--even though the House, on the floor, tacked on the Thomas amendment to take this authority to borrow out of the bill--it will get sacked in the committee because the committee in conference is opposed to the amendment--he was extremely exercised about backdoor borrowing and the lack of overall control over appropriations.
http://www.archives.gov/legislative/research/special-collections/oral-history/fenno/gary-1959.html

1960

1960: Sandy Weill is a co-founder of Carter, Berlind, Potoma & Weill, which starts with $215,000 of capital. Firm grows by taking over other companies.   https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

SHEARSQN. HAMMILL CITED BY SEC.
In a decision announced today (ReI.34-7743),the Commission ruled that Shearson,Hammill & Co., of 14 Wall Street, New York City, and certain individuals associated with it,engaged in activities in 1960-61 which were violative of the registration and anti-fraud provisions of the Federal securities laws.

The violations occurred in three of the Shearson firm's branch offices  in  California; and they were "so grave and extensive," the Commission concluded, "as to warrant the imposition of substantial sanctions."

However, in view of various mitigative factors, the Commission withheld the  imposition of a sanction against the Shearson firm on condition that the five principal partners of the firm who comprised its executive committee be dissociated from the firm for a period of 60 days, either concurrently or consecutively.

The Commission found that those partners, Murray D.Safanie, Robert C. Van Tuyl, Walter Maynard, H. Stanley Krusen, and William J. Denman, by "their failure to exercise their managerial obligations" in supervising the activities of the firm's Los Angeles office during the 1960-61 period with respect to transactions in the stock of United States Automatic Merchandising Company (USAMCO), bore a "heavy responsibility" for the violations committed in that office.          https://www.sec.gov/news/digest/1965/dig111265.pdf

1962

1962  White Weld
In 1962, Credit Suisse takes over White, Weld and Co. AG, Zurich, from the American investment bank, White Weld, New York. The acquisition is re-named Clariden Finanz AG
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1962: David Rockefeller, Chase Manhattan Bank chairman, visits political leaders and banking officials in Lebanon, Kuwait, Saudi Arabia, Bahrain and Iran, increasing the firm's presence throughout the Middle East. https://www.jpmorgan.com/EG/en/about-us

Communists in government during World War II formulated major policies
which the Truman administration followed; but when the known communists
were gone, the policies continued, under Eisenhower, Kennedy, Johnson.
The unseen _they_ who took control of government during World War II
still control it. Their tentacles of power are wrapped around levers of
political control in Washington; reach into schools, big unions,
colleges, churches, civic organizations; dominate communications; have a
grip on the prestige and money of big corporations.

For a generation, _they_ have kept voters from effecting any changes at
the polls. Voters are limited to the role of choosing between parties to
administer policies which _they_ formulate. _They_ are determined to
convert this Republic into a socialist province of a one-world socialist
system.

This book tells who _they_ are and how _they_ work. If enough Americans
had this information, our Republic would be saved.

http://thespiritwithinpoetry.com/project_gutenberg.html

Socialism + Communism   

NOTE:JPMorgan has been doing business in China since 1921. Our integrated financial services include investment and corporate banking, wholesale payments, markets, sales and research, securities services, commercial banking and asset management. Today, we serve Chinese and international corporations, financial institutions and government agencies through our network in Beijing, Shanghai, Tianjin, Guangzhou, Chengdu, Harbin, Suzhou and Shenzhen.

We have operated in Asia Pacific since 1872, and today are present across 17 markets in the region. Local corporations and institutions, multinationals, governments and private clients rely on us for market-leading financial services — a confidence bred from our strength and ability to deliver integrated services across the Corporate & Investment Bank, Asset Management and the Private Bank. https://www.jpmorganchina.com.cn/en/about-us 

NOTE: Hong Kong leader Carrie Lam said Tuesday that the JPMorgan (JPM) CEO had been granted a government exemption from self-isolation measures, which typically require travelers to stay in hotels at their own expense for up to three weeks.

Asked about the matter at a press conference, Lam said that Dimon had received special permission in the interest of "Hong Kong's economy."

"After all, [JPMorgan] is a really big bank and it has vital business in Hong Kong," she said. "The stay is only going to be for a little bit over a day."   https://www.cnn.com/2021/11/16/business/jpmorgan-jamie-dimon-hong-kong-intl-hnk/index.html  

In 1962 the bank's official name was changed to First National City Bank. Six years later, in an attempt to circumvent federal regulations restricting a bank's activities, Citibank created a one-bank holding company (a type of company the Bank Holding Company Act of 1956 had overlooked) to own the bank but also engage in lines of business the bank could not. The holding company was initially called First National City Corporation (FNCC). Within six months, Bank of America, Chase Manhattan, Manufacturers Hanover, Morgan Guaranty, and Chemical Bank had also created holding companies.   https://www.company-histories.com/Citigroup-Inc-Company-History.html

 

1963

JOHN F. KENNEDY THE WHITE HOUSE   AMENDMENT OF EXECUTIVE ORDER NO. 10289

"There are some who say that Communism is the wave of the future.
Let them come to Berlin."
--President John F. Kennedy, Berlin, Germany, June 26, 1963
The cold war is the term for the rivalry between the two blocs of contending states that emerged following World War II. It was a series of confrontations and tests of wills between the non-Communist states, led by the United States and Great Britain, and the Communist bloc, led by the Soviet Union, that lasted 45 years and, at one point, drew the world to the brink of nuclear war.

In August 1961 the Soviets erected the Berlin Wall to stop the mass exodus of people fleeing Soviet East Berlin for West Berlin and the non-Communist world. The wall was a mass of concrete, barbed wire, and stone that cut into the heart of the city, separating families and friends. For 28 years, it stood as a grim symbol of the gulf between the Communist East and the non-Communist West. In 1989 the Berlin Wall fell, signalling the end of the cold war.

National Archives,
John F. Kennedy Library
(NLK-29248)

On June 26, 1963, President John F. Kennedy delivered a speech that electrified an adoring crowd gathered in the shadow of the Berlin Wall. As he paid tribute to the spirit of Berliners and to their quest for freedom, the crowd roared with approval upon hearing the the President's dramatic pronouncement, "Ich bin ein Berliner" (I am a Berliner).  http://www.archives.gov/exhibits/american_originals/kennedy.html

 

1964

NEW We began serving commercial bank clients in Malaysia in 1964. Our range of products and services now include investment banking, research, trading and treasury and securities services. Our commitment to developing our business in Malaysia has allowed us to become a leader among foreign banks in the country.

We have operated in Asia Pacific since 1872, and today are present across 17 markets in the region. Clients rely on our global strength, local expertise and leadership across our lines of business. https://www.jpmorgan.com/MY/en/about-us

NEW  

The "Golden Triangle" region of Southeast Asia has become the center of a thriving opium economy and a crucial source of narcotics for the world. The current oversupply has led to warehousing of huge quantities of opium, making the heroin problem in the area intractable and a spreading heroin epidemic possible.
Abstract
The Golden Triangle includes parts of Burma, China, Laos, and Thailand. It provides ideal conditions for opium cultivation, which began during the 16th and 17th centuries. Heroin became a major component of the opium trade after World War II, and the demand for heroin by United States troops during the Vietnam War helped transform the opium economy of the Golden Triangle into a large and profitable heroin economy.

 

Drug trafficking now influences every aspect of politics in the region. Crop eradication efforts conducted since 1964 have had no significant impact. Believing that equipment it provided to help the Burmese government combat drug trafficking has been diverted to counterinsurgency operations, the United States has cut off this assistance. The lack of enforcement, good weather, and increased cultivation have sharply increased opium production since then, making reduced prices and a spread of heroin use possible.  https://www.ojp.gov/ncjrs/virtual-library/abstracts/heroin-trafficking-golden-triangle

1964  Full-Service Bank
Credit Suisse is granted a license as a full-service bank, allowing it to take deposits and carry out all other types of banking in the USA. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html
 

--Barclays Bank D.C.O. Opens Park Ave. Branch; British Unit's Vice Chairman Flies From London to Dedicate 1,400th Office BARCLAYS OPENS PARK AVE.

Barclay's Bank D.C.O., Britain's biggest overseas banking organization, ran off another marker on its growth string yesterday with the opening of a new branch office at 300 Park Avenue.   http://query.nytimes.com/gst/abstract.html?res=9506EEDB1E30E033A25756C1A96F9C946591D6CF

1965

1965-09-01 MARINE TRUST COMPANY OF WESTERN NEW YORK was renamed to MARINE MIDLAND TRUST COMPANY OF WESTERN NEW YORK.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

1965: Morgan Guaranty Trust Company opens representative office in Lebanon.
https://www.jpmorgan.com/EG/en/about-us

1966

Barclays launches the Barclaycard, the UK's first credit card    http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

Control Data was much smaller than CCC, earning $8.4 million in 1966 with only $350 million in assets. However, CCC was already financing and leasing computers, and Control Data had big plans to open a worldwide network of computer data centers, as well as sell and lease its computers. Control Data lacked the capital for this plan, and the two companies hoped they could be of mutual benefit to one another. CCC was to contribute capital and assist in the leasing of computers and in timesharing operations.   https://www.encyclopedia.com/books/politics-and-business-magazines/commercial-credit-company

1967

 J.P. Morgan's presence in Korea dates back to 1967, when Chase Manhattan Bank became the first foreign bank to enter the market. Since then, it has expanded its business to include brokerage services and investment banking. Today, employees in the Seoul office offer an array of wholesale financial services across corporate and investment banking and asset management through three legal entities; J.P. Morgan Securities (Far East) Limited, Seoul Branch, JPMorgan Chase Bank, N.A., Seoul Branch, and JPMorgan Investment Advisors (Korea) Company Limited. The operations are located in J.P. Morgan Plaza, in the central business district, surrounded by the historic Deoksu Palace, Baejae Park and the Seoul Museum of Art.  https://www.jpmorgan.co.kr/en/about-us

1967: Chase Manhattan Bank (a predecessor of JPMorgan Chase & Co.) establishes its local office as the first foreign bank to enter the market(South Korea). https://www.jpmorgan.co.kr/en/about-us

We [Barclays] launch the world's first cash machine            

http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

1968

 NEW SEE 2022  Our presence in Greece dates back to 1968, when we opened offices in Piraeus and Athens. We now serve some of the largest Greek companies and the country itself. From our Europe, the Middle East and Africa (EMEA) offices, we offer our Greek clients products and services from the asset management, investment banking and treasury services businesses.  https://www.jpmorgan.com/GR/en/about-us 

 

1968: Deutsche Bank founds European-American Banking Corporation and European-American Bank & Trust Corporation together with other European banks.  https://www.db.com/usa/content/en/Chronicles.html

1968: Chase Manhattan enters a joint venture with The Bank of Ireland to establish The Chase Bank of Ireland (International) Ltd. Chase takes a 50% interest in the venture. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

 1968: Chase Manhattan enters a joint venture with The Bank of Ireland to establish The Chase Bank of Ireland (International) Ltd. Chase takes a 50% interest in the venture. https://www.jpmorgan.com/GB/en/about-us

   The firm launches Euroclear, a system for the orderly settlement of transactions in Eurobonds.  https://www.jpmorgan.com/pages/company-history


NEW In 1968, Commercial Credit Corporation was the target of a hostile takeover by Loews Inc. Loews had acquired nearly 10% of CCC, which it intended to break up on acquisition. To avoid the takeover, CCC forged a deal with CDC lending them the money to purchase control in CCC instead, and "That is how a computer company came to own a fleet of fishing boats in the Chesapeake Bay." By the 1980s, Control Data entered an unstable period, which resulted in the company liquidating many of their assets. In 1986, Sandy Weill convinced the Control Data management to spin off their Commercial Credit subsidiary to prevent the company's potential liquidation. Over a period of years, Weill used Commercial Credit to build an empire that became Citigroup. In 1999, Commercial Credit was renamed CitiFinancial, and in 2011, the full-service network of US CitiFinancial branches were renamed OneMain Financial. http://articles.baltimoresun.com/1991-11-07/business/1991311058_1_commercial-credit-primerica-weill

INTRODUCTION
JPMorgan Chase & Co. (JPMorgan Chase? or the ?Firm), a financial holding company incorporated under Delaware law in 1968, is a leading global financial services firm and one of the largest banking institutions in the United States of America (U.S.), with $2.1 trillion in assets, $170.2 billion in stockholders? equity and operations in more than 60 countries as of March 31, 2009. The Firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S. and many of the world?s most prominent corporate, institutional and government clients.
JPMorgan Chase's principal bank subsidiaries are JPMorgan Chase Bank, National Association (JPMorgan Chase Bank, N.A.), a national banking association with branches in 23 states in the U.S.; and Chase Bank USA, National Association (?Chase Bank USA, N.A.?), a national bank that is the Firm?s credit card issuing bank. JPMorgan Chase's principal nonbank subsidiary is J.P. Morgan Securities Inc., the Firm's U.S. investment banking firm.
JPMorgan Chase's activities are organized, for management reporting purposes, into six business segments, as well as Corporate/Private Equity. The Firm?s wholesale businesses comprise the Investment Bank, Commercial Banking, Treasury & Securities Services and Asset Management segments. The Firm?s consumer businesses comprise the Retail Financial Services and Card Services segments. A description of the Firm?s business segments, and the products and services they provide to their respective client bases, follows.
Investment Bank
J.P. Morgan is one of the world?s leading investment banks, with deep client relationships and broad product capabilities. The Investment Bank's clients are corporations, financial institutions, governments and institutional investors. The Firm offers a full range of investment banking products and services in all major capital markets, including advising on corporate strategy and structure, capital-raising in equity and debt markets, sophisticated risk management, market-making in cash securities and derivative instruments, prime brokerage and research. The Investment Bank (?IB?) also selectively commits the Firm?s own capital to principal investing and trading activities. https://www.sec.gov/Archives/edgar/data/19617/000095012309008271/y76962e10vq.htm

 

1969

https://www.youtube.com/watch?v=klF4O5NH1gA

Address by G. Edward Griffin, given in 1969

https://www.seemorefacts.com/uploads/1/6/8/4/16843972/color_communism_and_common_sense_02a_1.pdf

1970

1970-07-31 MARINE MIDLAND TRUST COMPANY OF WESTERN NEW YORK was renamed to MARINE MIDLAND BANK-WESTERN.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

1970: The First National Bank of Chicago (a predecessor firm) opens a branch in Dublin at 31 Dame Street. The branch moves to 44/45 St. Stephen?s Green in 1974.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

 1970: Chase Manhattan Bank is the only foreign bank to operate a free-zone branch in Egypt.
https://www.jpmorgan.com/EG/en/about-us

 1970: The First National Bank of Chicago (a predecessor firm) opens a branch in Dublin at 31 Dame Street. The branch moves to 44/45 St. Stephen?s Green in 1974.    https://www.jpmorgan.com/GB/en/about-usm


CCC generally had a low profile during its years under the ownership of Control Data. The firm consolidated its leasing units in 1970 and formed a real estate finance unit the following year. In 1974 CCC formed an insurance division. It also bought 70 percent of France?s Credit Fran?ais and formed a joint venture with Japan?s Nippon Shinpan, a major consumer finance company. Beginning in the late 1970s the firm made a number of acquisitions including Gulf Insurance in 1976 and Great Western Loan & Trust in Texas in 1977. In 1981 CCC bought the Electronic Realty Association, a real estate franchising network.

Meanwhile the relationship between CCC and Control Data was eroding. Computers became rapidly less expensive and more powerful in the 1970s, and many corporations that had leased mainframes from Control Data began to buy their own computers. As this trend intensified, Control Data no longer needed CCC to help it with leasing. CCC also expanded into a wide area of financial services?too many, in the eyes of some critics. CCC opened a national bank based in Delaware, two state-chartered banks, and two savings and loans that offered mortgages, credit cards, and a variety of other services. It owned 21 percent of midsize brokerage Inter-Regional Financial Group Inc. Its business financing expanded to include vehicle and airplane leasing as well as life and casualty insurance. It lent a total of $577 million to foreign countries, about half of them in Latin America. Because of Control Data?s large losses in the computer business, CCC lost its investment-grade credit rating, forcing it to pay more for its money.


https://www.encyclopedia.com/books/politics-and-business-magazines/commercial-credit-company

 

1971

We have been doing business in Bangladesh since the birth of the country in 1971. The representative office was formally set up in Dhaka in 2010 to offer clients access to the firm’s extensive suite of global treasury solutions, including cash management, trade and liquidity products and services.

We have operated in Asia Pacific since 1872, and today are present across 17 markets in the region. Clients rely on our global strength, local expertise and leadership across our lines of business.

In Asia Pacific, we are committed to helping promote economic growth and economic inclusion through our key philanthropic initiatives in the areas of workforce readiness, small business development and financial capability. Our investments aim to increase the number of quality jobs created for the underserved individuals and communities, helping small businesses become more sustainable, as well as assisting marginalized people in gaining access to affordable financial products so that they can become more financially secure. This shared commitment to the community drives our Foundation’s giving and employee engagement and volunteering activities across the region.

J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.              https://www.jpmorgan.com/BD/en/about-us
 

1971: Together with Schweizerische Bankgesellschaft, Deutsche Bank sets up UBS-DB Corporation, New York. https://www.db.com/usa/content/en/Chronicles.html

Read about Communism in 1971 : https://www.govinfo.gov/content/pkg/GPO-CRECB-1971-pt13/pdf/GPO-CRECB-1971-pt13-1-1.pdf   Is JPMorgan owned by communists? What about the other members of the 'world bank"?

1971: Chase Manhattan Bank opens branch office in Manama, Bahrain, which becomes the hub for all business in the Middle East.
https://www.jpmorgan.com/EG/en/about-us

By 1971 the US Lockheed Aircraft Corporation was in severe financial trouble and it embarked on a policy of allocating $24 million as bribe money to win foreign orders. In February 1976 revelations to a US Senate subcommittee led to official action in Japan, the Netherlands, and Italy. In Japan payments had allegedly been made to ex-Prime Minister Tanaka Kakuei who received 500 million yen to ensure that All Nippon Airways bought Lockheed aircraft. Tanaka was eventually sentenced to four years' imprisonment in 1983, but remained an influential figure in Japanese politics. More importantly, the scandal highlighted a general occurrence of corruption in Japanese political circles. In the Netherlands the husband of Queen Juliana, Prince Bernhard, Inspector-General of the Armed Forces, was discredited for having received $1.1 million, while in Italy two former defence ministers were named as having purchased Lockheed aircraft for the Italian air force against the taking of bribes. https://www.oxfordreference.com/view/10.1093/oi/authority.20110803100111791

1973

 NEW  LOCKHEED FACING FINANCIAL CRISIS
By Richard Within     Dec. 15, 1973

The Lockheed Aircraft Corporation, saved from bankruptcy in 1971 by a Government guarantee of up to $250-million in loans, sought urgent help yesterday to save itself from a new financial crisis.

The California-based company, its long-standing difficulties aggravated by the fuel shortage and the decline in airline travel, announced it was in danger of running out of cash next year. It said it might have to seek new short-term credits against already built trijets on which airline customers have obtained agreements to delay delivery.

To help it find a solution, including a possible merger with a healthier company, Lockheed has retained the investmentbanking firm of Lazard Freres & Co. of New York.

https://www.nytimes.com/1973/12/15/archives/lockheed-facing-finanial-crisis-defense-contractor-saved-by-71-us.html

https://www.cnbc.com/2022/01/25/aerojet-rocketdyne-ftc-likely-suing-to-block-lockheed-martin-buy.html

 NEW  We began doing business in Portugal in 1973, and now rank among the top international banks in all products. We offer our clients, including major corporates, financial institutions and governments, access to debt and equity capital markets, M&A and advisory and private banking  https://www.jpmorgan.com/PT/en/about-us

Chase opens a representative office in Moscow, the first Russian presence for a U.S. bank since the 1920s; Chase also becomes the first U.S. correspondent to the Bank of China since the 1949 Chinese revolution.  https://www.jpmorgan.com/pages/company-history

J.P. MORGAN IN RUSSIA
CB "J.P. Morgan Bank International" (LLC) is a part of the JPMorgan Chase & Co. group which has been present in the Russian market since the early Seventies: Chase opened a representative office in Moscow in 1973.

Commercial Bank Chase Manhattan Bank International was created as a limited liability company in 1993 and registered with the Bank of Russia under No. 2629.

In 2001, the bank changed its name to the current one.

At present, Commercial Bank "J.P. Morgan Bank International" (Limited Liability Company) has its office in Moscow and offers a broad range of financial and banking services to legal entities, including currency conversion operations, money market transactions, securities and derivatives transactions.

The bank does not provide its services to retail customers.

The bank is one of the leading players on the Russian financial market and continues to develop new business lines for the benefit of its clients.

James Dimon, Chairman and CEO of JPMorgan Chase & Co., is a member of the International Advisory Board on creation and development of an international financial centre in Russian Federation under the Russian President.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers globally and many of the world?s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.


http://www.jpmorgan.ru/pages/jpmorgan/russia/en/home

 

1974

1974: Vaults open to journalists
September 23 - Fort Knox breaks from its strict no-visitors policy to allow a group of journalists and a Congressional
delegation into the vaults to view the gold reserves. The Treasury Secretary allows the visit when rumors persist that all
the gold had been removed from the vaults.

Previously, President Franklin D. Roosevelt was the only person other than authorized personnel to access the vaults. https://www.usmint.gov/about/mint-tours-facilities/fort-knox
 

1974:David Rockefeller, Chase Manhattan Bank chairman, visits President Anwar Sadat in Egypt as part of his tour to build the firm's relationships in the Middle East.
Chase Manhattan Bank and Manufacturers Hanover Corporation both open representative offices in Egypt, marking the return of American banks since 1956.
https://www.jpmorgan.com/EG/en/about-us

The Synagogue Of Satan 1974 ~ 1990, by Andrew Carrington Hitchcock

1975

 1975:
Chemical Bank opens representative offices in Saudi Arabia, Dubai, Qatar, Bahrain, Oman
Chase Manhattan Bank and Chemical Bank open representative offices in Tehran.
Chase Manhattan Bank forms joint venture with state-owned Industrial Credit Bank to create the International Iran Bank, promoting Tehran as a major financial center.
Chase Manhattan Bank establishes Chase National Bank, a joint venture with the National Bank of Egypt.
The Saudi Arabian Monetary Agency appoints Chase to organize, staff and manage the newly created Saudi Industrial Development Fund that provides interest-free and subsidized loans to local businesses.
https://www.jpmorgan.com/EG/en/about-us

CIA secret weapon of assassination Heart Attack Gun, Declassified 1975

1976

1976-01-01 MARINE MIDLAND BANK-WESTERN was renamed to MARINE MIDLAND BANK and moved to ONE MARINE MIDLAND CENTER BUFFALO, NY.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

1976: David Rockefeller, Chase Manhattan Bank chairman, meets with Sheikh Rashid Al Maktoum in Dubai.
https://www.jpmorgan.com/EG/en/about-us

1976  A Study of Corporate and Banking Influence

1976  Bodenkreditanstalt
The merger with the Schweizerische Bodenkreditanstalt marks the first major step toward growth in mass business and represents a substantial expansion of the sales network and client base. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html  

1977

 1977: Chase Manhattan Bank is a 20% shareholder in Saudi Investment Banking Corporation, a new investment bank dedicated exclusively to strengthening the Kingdom?s economic, industrial and agricultural development.
https://www.jpmorgan.com/EG/en/about-us

George Fisher Baker   Found Fatally Shot  NEW

1977  The Chiasso Affair
The Chiasso affair resulted in the biggest loss SKA had suffered in its entire history. The crisis prompted the bank to strike out for new shores and transform itself from a traditional Zurich institution into an international financial services provider.  
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Personal bankers are introduced to branches  http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

 

Lockheed Paid $38 Million in Bribes Abroad
By William H. Jones and
John F. Berry
May 27, 1977

Top officers of Lockheed Aircraft Corp. inaugurated and directed a program of foreign bribery that included questionable payments of up to $38 million from 1970 through 1975, according to a court-ordered report made public yesterday.

Previous studies of the aerospace company's foreign payments had put the total at less than $25 million. At the same time, yesterday's report found no evidence that Lockheed made any illegal political contributions in the United States.

The latest report was prepared by a group of Lockheed directors who are not offices of the California-based firm.

it detailed a practice of questionable overseas payments dating back to the late 1950s, but said the bulk of payments came in the years immediately following 1969, when Lockheed's financial status began to deteriorate.

The authors of yesterday's report declined to put on the public record the names and countries of payment recipients - some of whom already have been identified through investigations here and abroal.

Lockheed's full board of directors endorsed this approach, which could put the company on a collision course with the Securities and Exchange Commission.

The federal regulatory agency sought the outside investigation as a partial settlement to a lawsuit it filed against Lockheed, alleging inadequate disclosure to investors about past payment practices.

SEC officials declined to comment on the report, which was filed here at 1:30 p.m. yesterday.A

Lockheed's study falls short of more complete studies by such firm as Gulf Oil Corp., which named names and countries of payment recipients in a similarly required SEC report.

The Gulf study, headed by former World Bank president John J. McCloy, resulted in the ouster of Bob R. Dorsey as Gulf's chairman last year.

Yesterday's report placed full responsibility for Lockheed's payment practices on the shoulders of former chairman Daniel J. Haughton and former president and vice chairman A. Carl Gotchian, who were removed from office in March 1976.

Haughton and Kotchian "encouraged a distortion of ethical values in the company's marketing efforts overseas, which resulted in most of the questionable foreign payments and practices described," said the committee of directors, J. Wilson Newman, retired chairman of Dun & Bradstreet Companies, Inc., and a Locheed director since April, 1976, headed the group.

However, the Newman study also said other current or former Lockheed officials either were aware of the payments or should have known what was happening.

Current president Lawrence O. Kitchen and vice chairman and chief financial officer Roy. A. Anderson were described as having knowledge of questionable payments.But the committee said the officers' involvement was not so direct as to bar them from future service to Lockheed.

In a telephone interview yesterday, Lockheed chairman Robert W. Haack said he had expressed to government officials in Washington his fears about adverse repercussions for Lockheed and the United States if names of recipients were to be revealed.

Haack, a former chairman of the New York Stock Exchange who was named to head Lockheed in the wake of the firm's payoff scandal, said the directors' report can be viewed in two ways. He said it could be evaluated for either the "really substantial work it is . . . leading to improvement in Lockheed," or as a study that lacks "titillating facts about how Mr. A, Mr. Band Mr. C may have given money to Mr. X, Mr. Y and Mr. Z."

Much of the evidence about payoff recipients was "hearsay" which would not be in anybody's interest" to publish, Haack said.

In addition, the Lockheed chairman said there are "some parts of the world where procurement deals are in abeyance, simply for the protection of procuring agents" who are fearful of having names published.

Haack said he hopes yesterday's report will be accepted by the SEC and "put the fears to rest."

He also revealed that he plans to step down as chairman in the near future, when a committee of directors picks a successor. A shareholder meeting is scheduled for Sept. 20 - the first regular annual meeting for the firm since early 1974.

Dramatic revelators of Lockheed's overseas payoffs, first revealed in testimony before the Senate subcommittee on multinational corporations in the summer of 1975, already have led to shakeups and recriminations in about a dozen countries.

Former Japanese Premier Kakuel Tanaka was formally charged with taking $1.6 million from Lockheed, part of $12.6 million paid by the firm to Japanese officials and agents.

Japan's ruling party was shaken profoundly by the crisis. More than $7 million of Lockheed money in Japan went to right-wing official Yoshio Kodama, according to the Senate investigation.

In the Netherlands, Prince Bernhard was stripped of his jobs in the armed forces and forced to relinquish business connections after a Dutch inquiry concluded he had sought payments from Lockheed. The inquiry did not confirm that he received $1.1 million, as has been reported. Similar inquiries have affected elected and appointed officials in Spain, Italy and West Germany.

Lockheed originally testified that of $147 million in overseas commissions to sell its products between 1970 and 1975, some $22 million were questionable.

Yesterday, the Lockheed directors reported total foreign commissions of $165 million from 1970 to 1975, the majority related to sales in Saudi Arabia. Members of the directors committee interviewed Saudi businessman Adnan Khashoggi during their investigation but said nothing about his relations with Lockheed.

Documents uncovered by the Senate committee showed that Lockheed paid commissions to Khashoggi for the express purpose of making "under the table" compensation to Saudi officials to win contracts.

Though the report states that Lockheed did not actually make any illegal payments domestically, it came close. In 1971, T. F. Morrow, who was an executive vice president, ordered company counsel J. H. Martin to pick up $20,000 cash in Paris and return the money to Burnbank.

When Martin pressed Morrow about the money, he was first told it was "none of your business." But Morrow later said, " We have some obligations in Washington."

Martin is quoted as telling Morrow, who has since died, "that under no circumstances would (he) be a party to that." Martin testified that the money was returned to Europe.

The report says that Morrow also proposed that money form aboard be used for the 1972 national campaign, but Kotchian and Wilson "each stated that the proposal was rejected and no such funds were used.

The report does cite examples of Lockheed entertaining unnamed U.S. government personnel.A government official negotiating claims against Lockheed on shipbuilding contracts enjoyed $800 worth of entertainment - "beer drinking and playing shuffle board and a one week boat trip."

Another "senior official" in January, 1973, was sponsored by Lockheed Missiles in a golf tournament at a cost of $450.

An alleged $100,000 payment to a Lockheed Georgia sales representative was revealed to the commitee by the employee's estranged wife.

The salesman, identified only as J. Walden, reportedly accepted the money from a company consultant in a foreign country where the employee was stationed from late 1971 to January, 1976.

The money was paid, the report says, after "the sale of the company's products to the country's air force in 1973."

Walden reportedly admitted to the company having received the money "unsolicited." He is under investigation by the Justice Department and the SEC.The report added; "The company reduced a subsequent commission payment due the consultant by $100,000."  https://www.washingtonpost.com/archive/business/1977/05/27/lockheed-paid-38-million-in-bribes-abroad/800c355c-ddc2-4145-b430-0ae24afd6648/

 

1978

1978: Deutsche Bank acquires the remaining 50% of the capital of UBS-DB corporation. The company is renamed in Atlantic Capital Corporation. https://www.db.com/usa/content/en/Chronicles.html
 

1979

1979: On April 30 Deutsche Bank New York branch opens. https://www.db.com/usa/content/en/Chronicles.html

1979: Chase Manhattan purchases the Bank of Ireland?s 50% interest and renames it The Chase Bank (Ireland) Ltd.   https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1979: Chase Manhattan purchases the Bank of Ireland?s 50% interest and renames it The Chase Bank (Ireland) Ltd https://www.jpmorgan.com/GB/en/about-us
 

1980

 1980-02-01 MARINE MIDLAND BANK was renamed to MARINE MIDLAND BANK, N.A. and changed from State Member Bank to National Bank.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

Barclays helps ?nance the Hong Kong underground   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

 Predecessor firm Hambrecht & Quist (H&Q) takes Apple Computer public.   https://www.jpmorgan.com/pages/company-history

The Hong Kong and Shanghai Banking Corporation was founded by Scotsman Sir Thomas Sutherland in the then British colony of Hong Kong on 3 March 1865, and in Shanghai a month later, benefiting from the start of trading into China, including opium trading. In 1980, HSBC acquired a 51% shareholding in US-based Marine Midland Bank, which it extended to full ownership in 1987.(information FOUND ON INTERNET)

Event Date Historical Event
1812-06-01 MARINE TRUST COMPANY OF WESTERN NEW YORK located at 241 MAIN STREET, BUFFALO, NY was established as a State Member Bank.
1965-09-01 MARINE TRUST COMPANY OF WESTERN NEW YORK was renamed to MARINE MIDLAND TRUST COMPANY OF WESTERN NEW YORK.
1970-07-31 MARINE MIDLAND TRUST COMPANY OF WESTERN NEW YORK was renamed to MARINE MIDLAND BANK-WESTERN.
1976-01-01 MARINE MIDLAND BANK-WESTERN was renamed to MARINE MIDLAND BANK and moved to ONE MARINE MIDLAND CENTER BUFFALO, NY.
1980-02-01 MARINE MIDLAND BANK was renamed to MARINE MIDLAND BANK, N.A. and changed from State Member  Bank to National Bank.
1993-12-31 MARINE MIDLAND BANK, N.A. was renamed to MARINE MIDLAND BANK and changed from National Bank to State Member Bank.
1999-03-29 MARINE MIDLAND BANK was renamed to HSBC BANK USA and moved to ONE HSBC CENTER BUFFALO, NY.
2004-07-01 HSBC BANK USA was renamed to HSBC BANK USA, NATIONAL ASSOCIATION and moved to 90 CHRISTIANA ROAD NEW CASTLE, DE and changed from State Member Bank to National Bank.
2004-08-25 HSBC BANK USA, NATIONAL ASSOCIATION moved to 1105 NORTH MARKET ST WILMINGTON, DE.
2008-12-20 HSBC BANK USA, NATIONAL ASSOCIATION moved to 1800 TYSONS BOULEVARD, SUITE 50 MCLEAN, VA
. http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231

http://www.ffiec.gov/nicpubweb/nicweb/OrgHierarchySearchForm.aspx?parID_RSSD=413208&parDT_END=99991231

 

1981

1981: Weill sells the firm, now known as Shearson Loeb Rhoades, to American Express for $930 million, creating Shearson/American Express.   http://https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

1982

1982: Opening of branches in Los Angeles and Chicago. https://www.db.com/usa/content/en/Chronicles.html
 

1982 SASI
Swiss American Securities Inc. (SASI), a subsidiary of SKA which was founded in the 1970s, becomes a member of the New York Stock Exchange in November 1982. Thus SKA becomes the first Swiss bank to have a place on the New York Stock Exchange via its subsidiary.

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Roberto Calvi  Italian banker found hanging from a London bridge

1983

1983- Citibank Re-entered China with a representative office in Shenzhen  http://www.citi.com.cn/html/en/about_us/Our_history.html

1984
NEW
The United States is owed a gargantuan $91 billion in debts from foreign countries -- debts that are unlikely to ever be fully recovered. That breaks down to $27.4 billion arising from World War I, $1.2 billion from World War II and $62.4 billion from the postwar period, according to an unreleased report prepared by the Congressional Research Service and seen by our associate, Michael Binstein. The figures are current to 1984, the most recent comprehensive accounting.   https://www.washingtonpost.com/archive/local/1988/09/02/uncle-sams-multibillion-dollar-debtors/25e18040-1dea-4b23-b40a-c5cba28dbff7/

 Citibank  opened Beijing representa tive office   http://www.citi.com.cn/html/en/about_us/Our_history.html

1984: Shearson buys Lehman Brothers for $380 million, renames itself Shearson Lehman/American Express. https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

 

1985

1985: Weill, now president of American Express under Chairman James D. Robinson III, quits. Company becomes Shearson Lehman Brothers.  https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

 Citibank opened Shanghai representative office http://www.citi.com.cn/html/en/about_us/Our_history.html

DEATH OF APOPKA WOMAN STILL A MYSTERY TO FAMILY ...https://www.orlandosentinel.com  news  os-xpm-198...
Nov 17, 1985  What agents knew for sure was that Smith, 35, the head bookkeeper at the former State Bank of Apopka, was found dead on her bed by fellow ...



Memoriam Deceased Graduates - Florida Southern College in ...https://www.flsouthern.edu  alumni-giving  alumni
Mary Emma Luther Majewski '35 of Brevard, N.C., died Jan. 29, 2016. ... At FSC, she was selected as the first Miss Florida Southern College in 1938. ... She is survived by two sons, Scott Smith and Steve Smith; two daughters, Melody Cernitz and Candy Murphy; nine ... He was a director of First State Bank of Winter Garden.

"Opened Feb. 12, 1912. Orange County's oldest banking institution"--negative sleeve.


 1986

Barclays becomes the ?rst UK bank to have its shares listed on both the New York and Tokyo Stock Exchanges http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

1986: Chase opens an office in Bournemouth.   https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1986: Chase opens an office in Bournemouth.
 https://www.jpmorgan.com/GB/en/about-us

It?s in our DNA
Sustainability and commitment to community have been intrinsic to Webster since its founding. What is now known as Webster Bank was founded in 1935, during the Great Depression, by Waterbury, Connecticut native Harold Webster Smith. Mr. Smith started the bank with $25,000 borrowed from friends and family to help people buy and build homes.

Through the years that followed, Webster grew, reaching $1 million in assets by 1938. We were the first bank to offer GI and FHA loans in Connecticut and today we are a leading SBA lender to small businesses, women, and minority businesses. The Corporation?s dedication to the communities it serves remained strong after it went public in 1986. We continued to grow over the ensuing decades, broadening our geographic footprint to include Massachusetts, Rhode Island, and New York, remaining headquartered in Waterbury. Today, we have more than $32 billion in assets. https://www.sec.gov/Archives/edgar/data/801337/000119312521086796/d104513ddef14a.htm

 

1987

1987: At high-water mark of its ownership, American Express sells part of Shearson to public, netting $574 million.   http://https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

 Barclays launches the UK?s ?rst debit card                  http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html
 

Weill Puts Things in Order at Commercial Credit Corporation

3 INDICTED ON INSIDER CHARGES

 Kidder Faces Life After Siegel


Citi has been present in Bangladesh since 1987. Today Citi has three branches, two banking offices and more than 140 employees in Bangladesh.

Citi in Bangladesh operates across the Institutional Clients Group (ICG) supporting global multinational companies, large Bangladesh corporates, financial customers and public sector clients with award-winning cash management, trade services, agency and trust, and direct custody and clearing solutions, as well as FX and lending.

Citi has a well-developed Financial Institutions business supporting the cross-border transactions of nationalized and private sector banks in the country. Citi also plays a vital role as the leading bookrunner of capital-market solutions for our clients in Bangladesh.

Citi's Corporate Bank serves local corporates and multinationals across several industries, providing vital linkage and an integrated perspective throughout the Bangladesh supply chain and business operations.
https://www.citigroup.com/citi/about/countries-and-jurisdictions/bangladesh.html

1987-88: Shearson pays $1.4 billion for E.F. Hutton, whose tangible net worth is approximately zero. Briefly renamed Shearson Lehman Hutton. https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

 

1988

NEW CORNISH: That's Frank Ciulla. His father, S. Frank Ciulla, was killed in the 1988 bombing of Pan Am Flight 103, over Lockerbie, Scotland. At the time Ciulla was an executive working in the U.K. for Chase Manhattan Bank. He was taking that Pan Am flight home to New Jersey for Christmas. After the bombing his body was discovered far from the crash site, on a sheep farm owned by Margaret and Hugh Connell. Ciulla's family received a letter from the Connell's after meeting them in Scotland. This was a few years after the bombing.  https://www.npr.org/2014/10/17/357004557/out-of-the-lockerbie-bombing-a-bond-and-a-letter-of-note

https://www.govinfo.gov/content/pkg/BILLS-103hjres240ih/html/BILLS-103hjres240ih.htm

Frank Ciulla, was a passenger on board Pan Am 103 when it exploded over the U.K. on Dec. 21, 1988.

Ciulla, a 45-year-old executive for Chase Manhattan Bank, was killed along with 258 passengers and crew and 11 local residents.

In 1992 the Ciulla family discovered important details about what had really happened to their father in the bombing and crash. During a conversation with the Connells, the family who found Frank Ciulla’s body on their farm in Waterbeck, Scotland, they learned he had actually died six miles from the crash site — far from the crater where houses once stood. He was sitting upright, still strapped into his seat.
https://www.pbs.org/newshour/education/her-family-tragedy-was-breaking-news-now-she-makes-students-into-better-media-consumers

https://www.newspapers.com/clip/45298850/obituary-for-s-frank-ciulla-aged-45/

https://www.sec.gov/Archives/edgar/data/801337/000119312521086796/d104513ddef14a.htm

https://www.sec.gov/Archives/edgar/data/801337/000119312521086796/d104513ddef14a.htm

https://www.sec.gov/Archives/edgar/data/801337/000080133720000014/wbs-20191231.htm

NEWCreating Economic and Monetary Union

The first step towards creating the ECB was the decision, taken in 1988, to build an Economic and Monetary Union: free capital movements within Europe, a common monetary authority and a single monetary policy across the euro area countries.
https://www.ecb.europa.eu/ecb/history/html/index.en.html

 Shenzhen Citibank representative office upgraded to branch  http://www.citi.com.cn/html/en/about_us/Our_history.html

---Citigroup Inc. (Citigroup and, together with its subsidiaries, the Company) is a diversified global financial services holding company whose businesses provide a broad range of financial services to consumer and corporate customers with some 200 million customer accounts doing business in more than 100 countries. Citigroup was incorporated in 1988 under the laws of the State of Delaware.
http://www.citigroup.com/citi/investor/data/q0401c.pdf  [see 1998]

1988-   Blackrock founded
 

1988  Stake acquired in CSFBI
First Boston Inc. becomes CS First Boston with a takeover of 44.5% of CS First Boston by CS Holding. 1990 sees a takeover of a majority holding of CS First Boston.

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html 

new   With a legacy dating back to 1799, our firm has a demonstrated history of leadership in times of both economic growth and financial instability. Our presence in Luxembourg dates to 1973, when we initiated operations as part of Chase Manhattan Bank. We continue to grow and evolve in response to our clients’ needs:

    Established in 1988, J.P. Morgan Asset Management (Europe) S.àr.l is now among the largest promoters of Luxembourg-based funds.  
    In 1989 J.P. Morgan Bank Luxembourg commenced custody banking in Luxembourg, and our first client is still our client today.  This business has grown significantly, and J.P. Morgan is now one of the largest custodians and fund administrator in the country.
    In 2019, J.P. Morgan began offering private banking to clients in Europe from Luxembourg.

We are located at 6 route de Treves, Senningerberg, L2633, Luxembourg. https://www.jpmorgan.com/LU/en/about-us

 

1989

 Rothschild Banking Family Opens German Office After 88-Year Absence
GEORGE BOEHMER
October 23, 1989
FRANKFURT, West Germany (AP) _ The legendary Rothschild banking family on Monday ended an 88-year absence from Germany by opening a new office in Frankfurt, the famed Jewish family?s historic hometown.

The Rothschild family that had lived in this Main River city since the Middle Ages closed its last German firm in 1901, when financial activity had migrated elsewhere and family interests in Paris and London eclipsed those in their traditional home.

The new Frankfurt office, located at Friedrich Street 48, will deal primarily in corporate financing, rather than consumer banking.


Rothschild offices in Paris and London joined forces to open the new office in Frankfurt, said Jan von Trott, spokesman for Frankfurt Mayor Volker Hauff.

Trott said the city views the opening of Frankfurts new Rothschild operation as ″a positive signal in connection with European Economic Community plans for free trade in the community by 1992.″

″It is a joining together of tradition and the future,″ Trott said. ″The Rothschilds have a magical meaning for Frankfurt as the original bankers here.″

Hauff joined Barons Elie and David Rothschild of Paris and Amschel Rothschild of London in opening ceremonies for the new office in Frankfurts West End district.


The office will initially be staffed by three people under the supervision of Erich Stromeyer, a former managing director of Shearson Lehmen Hutton AG in Frankfurt.

Plans call for the offices activities to include business mergers and acquisitions, in addition to regular portfolio management, banking sources say.

Mayer Amschel Rothschild, the son of a Jewish money-changer in the Frankfurt ghetto, started the family financial empire in the 18th century.

The Rothschild family later expanded its banking business to other major cities, including London, Vienna, Naples and Paris.

Berlin eventually became Germany?s banking center, and in 1901, when Baron Wilhelm Carl von Rothschild died leaving no male heirs, the family closed its operations in Frankfurt.

″For a Rothschild family member, the return to Frankfurt is a meaningful event,″ Baron David Rothschild, associated manager of Rothschild & Cie. in Paris, told reporters at a press conference.


The Frankfurt office is owned by N.M. Rothschild & Sons Ltd. in London, Rothschild Bank AG of Zurich, and the Paris-based Rothschild & Cie.

The Rothschild family gained prominence by financing such projects as the construction of European railroads and the British military campaign that led to the final defeat of Napoleon at Waterloo in 1815.

The family?s original home on the banks of the Main River was destroyed by Allied bombers in World War II.

In November 1988, West Germany?s only museum devoted exclusively to Jewish life and culture opened in the restored Rothschild Palace. Exhibits range from Jewish traditions in the city to documentation of the horrors of the Holocaust that claimed the lives of 6 million European Jews.

https://apnews.com/article/37b5d94dad57797c5dea6609df7c5283

 

1989  CS Holding
CS Holding, set up in 1982 as a sister company to SKA, becomes the parent company of the Group.

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

J.P. Morgan ranks among Fortune's 50 Best Companies for Minorities. The firm is regularly recognized as a leading employer of women, minorities, and LGBT employees.             https://www.jpmorgan.com/pages/company-history

FORMER CONFORMED NAME: COMMERCIAL CREDIT GROUP INC
DATE OF NAME CHANGE: 19890102 COMMERCIAL CREDIT GROUP INC

Alfred Herrhausen  Chairman of the Deutsche Bank, West Germany's largest bank, was assassinated on the streets of Frankfurt.

1989-90: Shearson's problems produce huge losses. American Express buys back publicly held shares of Shearson for $360 million; also pumps more than $1 billion into Shearson to keep it afloat. Company once again becomes Shearson Lehman Brothers.  https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

1990

NEW  ING was founded in 1991 by a merger between Nationale-Nederlanden and NMB Postbank Group. During the past years ING has become a multinational with diverse international activities.

  The roots of ING can be traced to the insurers De Nationale Levensverzekering Bank and De Nederlanden van 1845 and to the public bank services such as De Rijkspostspaarbank and De Postcheque- and Girodienst, as well as to the Nederlandsche Middenstands Bank. These are the legal predecessors of the ‘founding fathers’ of ING: Nationale-Nederlanden and NMB Postbank Group.

The founding of ING as one company was started in 1990 when the legal restrictions on mergers between insurers and banks were lifted in the Netherlands. This prompted insurance company Nationale-Nederlanden and banking company NMB Postbank Groep to enter into negotiations. The merger into Internationale Nederlanden Groep took place in 1991. The market soon abbreviated the name to I-N-G. The company followed suit by changing the statutory name to ING Groep N.V. Since 1991, ING has developed from a Dutch company with some international business to a multinational with Dutch roots. This was achieved through a mixture of organic growth, such as the creation of ING Direct from scratch, as well as various large acquisitions.

The first large acquisition took place in 1995, when ING took over Barings Bank. This acquisition increased the brand recognition of ING around the world and strengthened its wholesale banking presence in the emerging markets. And then there was Life of Georgia. This insurance company was acquired by Nationale-Nederlanden in 1979, resulting in a significant increase in activities in the US. Via Life of Georgia, the activities in Asia expanded considerably. However in 2004, ING as a group had become well-established in both regions and Life of Georgia was sold.

Other acquisitions, such as the Belgian Bank Brussels Lambert, strengthened the Group’s presence in the Benelux. In addition, the activities in the United States were doubled as a result of organic growth and the acquisition of Equitable of Iowa, ReliaStar, Aetna Financial Services and merchant bank Furman Selz.

ING is also active in other parts of the world. In 2001, ING acquired a majority interest in the Polish Bank Slaski and entered the Indian life insurance market through ING Vysya Life Insurance.

Furthermore, ING participates in a number of financial institutions. An important example is the partnership with the Bank of Beijing.
http://www.ing.com/About-us/Our-stories/History-of-ING.htm

 

During stage one, which began in July
1990, the member countries of the European
Union were to achieve greater convergence
in economic performance through increased
policy coordination. Stage one was also to
be characterized by the completion of the
single internal market and removal of all

FEDERAL BAN K O F ST . LOUIS
4Digitized for FRASER
http://fraser.stlouisfed.org/ 
Federal Reserve Bank of St. Louis

REVIEW JULY / AUGUST 1995

capital controls.4 In addition, all currencies
would be linked in the Exchange Rate
Mechanism (ERM), and procedures would
be established for budgetary policy coordina?
tion.3 The goals for the completion of stage
one have yet to be met because the currencies
of five countries do not participate in the ERM.*

https://fraser.stlouisfed.org/files/docs/publications/frbslreview/rev_stls_199507.pdf

*ERM  The Exchange Rate Mechanism (ERM) created in 1979 laid the foundation for the later Economic and Monetary Union (EMU). The UK joined the ERM in 1990 (and left in 1992) but obtained an opt-out from joining EMU in return for agreeing to the next major Treaty amendment, the Maastricht Treaty, in 1991.

The ERM and the single currency - UK Parliament

 

 1990: J.P. Morgan & Co. is instrumental in arranging a US$5.5 billion loan to help rebuild Kuwait after the Gulf War.
https://www.jpmorgan.com/EG/en/about-us

1990: Deutsche Bank Government Securities becomes the only German bank to be awarded "primary dealer" status by the Federal Reserve Bank. https://www.db.com/usa/content/en/Chronicles.html
 

 1990  Bank Leu
Acquisition of Bank Leu.  
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html    
 

 J.P. Morgan plays an active role in the negotiations with Mexico to restructure nearly $50 billion in medium- and long-term commercial bank debt. A first in the market, the new bonds become known as Brady Bonds.
 
https://www.jpmorgan.com/pages/company-history

1991

1991: J.P. Morgan Securities opens its Seoul branch.
https://www.jpmorgan.co.kr/en/about-us 

Citibank  upgraded representative office in Shanghai (China) to full branch status     http://www.citi.com.cn/html/en/about_us/Our_history.html

In 1991, Manufacturers Hanover Corp. merged with Chemical Banking Corp., under the name of Chemical Banking Corp., then the second-largest banking institution in the United States. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history
 

1992

On January 1, 1992, the Fund on behalf of the Equity Portfolio acquired the
assets and liabilities of Lazard Equity Fund, formerly a portfolio of Scudder
Fund, Inc. ("Scudder Fund") an open-end, diversified management investment
company, and the Fund on behalf of the Special Equity Portfolio acquired the
assets and liabilities of Lazard Special Equity Fund, Inc. ("Lazard Special
Equity Fund"), formerly a single portfolio open-end, diversified management
investment company.

https://www.sec.gov/Archives/edgar/data/874964/0000930413-95-000049.txt 
 

1992: Deutsche Bank's activities in the USA were consolidated under the umbrella of Deutsche Bank North America Holding. https://www.db.com/usa/content/en/Chronicles.html

 NEW    BLAZER FINANCIAL SERVICES INC OF FLORIDA

1993

Citibank, The first international bank to move its China headquarters to the mainland from Hong Kong  http://www.citi.com.cn/html/en/about_us/Our_history.html

1993  Volksbank
Acquisition of Swiss Volksbank. https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html              
                 

CITIGROUP INC. (1951350) acquires TRAVELERS CORPORATION (1246092) 1993-12-31 The acquired institution sold its assets to the acquiring institution. http://www.ffiec.gov/nicpubweb/nicweb/AcquisitionForm.aspx?parID_RSSD=1951350&parDT_END=99991231

NEW  CB "J.P. Morgan Bank International" (LLC) is registered with the Bank of Russia under No. 2629.

Commercial Bank Chase Manhattan Bank International was created as a limited liability company in 1993 and registered with the Bank of Russia under No. 2629.  https://www.jpmorgan.ru/en/about-us

Organization name
    CB "J.P. Morgan Bank International" (LLC) (Russia)
    Organization status
    Operating organization
    Registration form
    Limited liability company
    Region
    Moscow
    Address
    10 Butyrsky Val, Moscow, Russia, 125047
    Phone
    (495) 9377300
    Site
    http://www.jpmorgan.com/pages/jpmorgan/russia/en/home

my source :  https://cbonds.com/company/19025/

1993-12-31 PRIMERICA CORPORATION was renamed to TRAVELERS INC..

1993: J.P. Morgan & Co. advises the Qatargas Consortium on a multibillion-dollar financing plan for a liquefied natural gas project in Qatar to develop the largest known gas field outside the former Soviet Union.
https://www.jpmorgan.com/EG/en/about-us

1993-12-31 MARINE MIDLAND BANK, N.A. was renamed to MARINE MIDLAND BANK and changed from National Bank to State Member Bank.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

NEW  4.7(a)           Indenture dated as of March 1, 1993, between J.P. Morgan & Co. Incorporated (succeeded through merger by J.P. Morgan Chase & Co.) and U.S. Bank Trust National Association, as Trustee (incorporated by reference to Exhibit 4.7(a) to the Annual Report on Form 10-K of J.P. Morgan Chase & Co. (File No. 1-5805) for the year ended December 31, 2000).

http://https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm

1993: Robinson quits. His successor negotiates to sell most of the old Shearson to Weill's Primerica Corp., for $1 billion. Lehman seeks independence. https://www.washingtonpost.com/archive/business/1993/03/16/80s-deals-showed-american-express-could-use-a-dose-of-street-smarts/2ae2cffe-ae3b-4d7d-b0bd-bd3459ede779/

Events

CITIGROUP INC.
Document Number     F92000000596
Date Filed     12/10/1992
Effective Date     None
Status     Active

Event Type     Filed Date     Effective Date     Description
NAME CHANGE AMENDMENT     05/11/1999         OLD NAME WAS : TRAVELERS GROUP INC.
NAME CHANGE AMENDMENT     11/26/1996         OLD NAME WAS : THE TRAVELERS INC.
NAME CHANGE AMENDMENT     06/30/1994         OLD NAME WAS : PRIMERICA CORPORATION

https://search.sunbiz.org/Inquiry/CorporationSearch/NameHistory?aggregateId=forp-f92000000596-07597571-f096-414e-b6a1-af1b125422b8&entityId=F92000000596&CurrentPage=0&SearchTerm=%20Primerica%20Corp.&InquiryType=EntityName&inquiryDirectionType=CurrentList&SearchNameOrder=PRIMERICA%20F920000005960&ListNameOrder=PRIMERICA%20F920000005960

  1994

In accordance with the Maastricht
Treaty stage two began on january 1, 1994.

During this stage, the member states are to
make their central banks independent. As
part of the steps toward independence, central
banks are prohibited from providing overdraft
facilities to their governments and from
directly financing the government debt.

The European Monetary Institute (EMI)
began operations at the start of stage two.
It is charged with ensuring cooperation
between national central banks and strength?
ening the coordination of national monetary
policies. The EMI is also to begin prepara?
tions for a single currency and the conduct
of a single monetary policy. Perhaps most
importantly in this regard, it is to create
the instruments and procedures necessary
for the operation of a single European
monetary policy. Also, during stage two,
countries are to achieve further economic
convergence, as detailed by the criteria in
the Maastricht Treaty.

https://fraser.stlouisfed.org/files/docs/publications/frbslreview/rev_stls_199507.pdf 

EXHIBIT
NO. DESCRIPTION
- ------- ------------------------------------------------------------------------------------
<S> <C>
10.12+ Lehman Brothers Holdings Inc. 1994 Employee Stock Purchase Plan (incorporated by
reference to Exhibit 10.27 of the Registrant's Registration Statement on Form S-1
(Reg. No. 33-52977)).
10.13 Purchase and Exchange Agreement dated April 28, 1994, between the Registrant and
American Express Company (incorporated by reference to Exhibit 10.29 of the
Registrant's Transition Report Form 10-K for the Eleven Months ended November 30,
1994).
10.14 Option Agreement, dated May 27, 1994, by and among American Express Company,
American Express Bank Ltd., American Express Travel Related Services Company, Inc.,
Lehman Brothers Inc., Lehman Government Securities, Inc. and Lehman Commercial Paper
Incorporated (incorporated by reference to Exhibit 10.31 of the Registrant's
Transition Report Form 10-K for the Eleven Months ended November 30, 1994).
10.15+ Lehman Brothers Inc. Voluntary Deferred Compensation Plan (For Select Executives)
(incorporated by reference to Exhibit 10.33 of the Registrant's Registration
Statement on Form S-1 (Reg. No. 33-52977)).
10.16+ Lehman Brothers Inc. Voluntary Deferred Compensation Plan (For Transferred
Participants' Vested Amounts as of July 31, 1993) (incorporated by reference to
Exhibit 10.34 of the Registrant's Registration Statement on Form S-1 (Reg. No.
33-52977)).
10.17+ Lehman Brothers Inc. Executive and Select Employees Plan (For Transferred
Participants) (incorporated by reference to Exhibit 10.35 of the Registrant's
Registration Statement on Form S-1 (Reg. No. 33-52977)).
10.18+ Lehman Brothers Holdings Inc. Cash Award Plan. (incorporated by reference to Exhibit
10.36 of the Registrant's Transition Report on Form 10-K for the Eleven Months ended
November 30, 1994).
10.19 Amended and Restated Agreement of Limited Partnership of Lehman Brothers Capital
Partners III, L.P. (incorporated by reference to Exhibit 10.27 to the Registrant's
Annual Report on Form 10-K for the fiscal year ended November 30, 1995).
10.20 Agreement of Limited Partnership of Lehman Brothers Capital Partners IV, L.P.
11.1 Computation of per share Earnings.

https://www.sec.gov/Archives/edgar/data/806085/0000950123-98-002086.txt

CHAIRMAN LEVITT TO TESTIFY
Chairman Levitt is scheduled to testify on Wednesday, March 2, at 10:00 a.m. before the House Oversight and Investigations Subcommittee concerning the proposed mergerbetween Mellon Bank Corporation and Dreyfus Corporation and related functional regulation issues. The testimony will take place in Room 2123 of the Rayburn House Office Building.
EDGAR CONFERENCE AND ROUNDTABLE DISCUSSIONS SET FOR APRIL
An EDGAR Filer Conference has been scheduled for Monday, April 18, 1994. The conference will be held in room lC30 on the lower level of the SEC HeadquartersBuilding at 450 5th Street, N. W., in Washington, D. C. At the conference, the SEC will present the status of the project, a discussion of the Rules, and a demonstration of the new EDGARLink~ software, which will include support for handling Financial Data Schedules. You need not preregister for the conference, but you are advised to arrive early. The conference will begin at 9:00 a.m.
On the following day, April 19, the SEC will sponsor two special interest roundtable discussions at the same location. The morning discussion, which is scheduled to last from 9:00-12:00, is entitled FUTURE PROSPECTS FOR THE

https://www.sec.gov/news/digest/1994/dig022894.pdf

 

Wardell Lazard founder of WR Lazard & Co  found dead. NEW

On September 13, 1994, the Chairman of the Board of
Governors of the Federal Reserve System assumed the seat on
the Board of Directors of the Bank for International
Settlements (BIS) designated for the central bank of the
United States. The central bank of the United States has
had the right to be represented on the BIS's Board of
Directors since the BIS was established more than sixty
years ago. For a variety of reasons, however, the Federal
Reserve had, until this year, never exercised its right.
The Federal Reserve Board's decision to assume
representation on the BIS's Board was made in recognition
of the increasingly important role of the BIS as the
principal forum for consultation, cooperation, and
information exchange among central bankers and in
anticipation of a broadening of that role. Federal Reserve
membership on the BIS Board marks a new chapter in the
relationship of the Federal Reserve System with the BIS.
http://www.thefreelibrary.com/The+Bank+for+International+Settlements+and+the+Federal+Reserve.-a015850047  

1994 Member Central Banks of the Bank for International
Settlements Country Central bank

1. Australia Reserve Bank of Australia
2. Austria Austrian National Bank
3. Belgium National Bank of Belgium
4. Bulgaria Bulgarian National Bank
5. Canada Bank of Canada
6. Czech Republic Czech National Bank
7. Denmark National Bank of Denmark
8. Estonia Bank of Estonia
9. Finland Bank of Finland
10. France Bank of France
11. Germany German Bundesbank
12. Greece Bank of Greece
13. Hungary National Bank of Hungary
14. Iceland Central Bank of Iceland
15. Ireland Central Bank of Ireland
16. Italy Bank of Italy
17. Japan Bank of Japan
18. Latvia Bank of Latvia
19. Lithuania Bank of Lithuania
20. Netherlands The Netherlands Bank
21. Norway Central Bank of Norway
22. Poland National Bank of Poland
23. Portugal Bank of Portugal
24. Romania National Bank of Romania
25. Slovakia National Bank of Slovakia
26. South Africa South African Reserve Bank
27. Spain Bank of Spain
28. Sweden Bank of Sweden
29. Switzerland Swiss National Bank
30. Turkey Central Bank of the
31. Republic of Turkey
32. United Kingdom Bank of England
33. United States Federal Reserve System
34. Yugoslavia(1) National Bank of Yugoslavia

1994 Basis of
Member membership

Willem F. Duisenberg First European Bank President

Elected
President, The Netherlands Bank
Chariman, Board of Directors of the
BIS, and President of the BIS

Carlo Azeglio Ciampi Appointed
Former governor, Bank of Italy
Vice Chairman, Board of Directors
of the BIS

Urban Backstrom Elected
Governor, Bank of Sweden

Bernard Clappier Appointed
Former governor, Bank of France

Antonio Fazio Ex officio
Governor, Bank of Italy

Edward A. J. George Ex officio
Governor, Bank of England

Alan Greenspan Ex officio
Chairman, Board of Governors of the
Federal Reserve System

Lord Kingsdown Appointed
[formerly Robin Leigh-Pemberton]
Former governor, Bank of England

Markus Lusser Elected
President, Swiss National Bank

William J. McDonough Appointed
President, Federal Reserve Bank of
New York

Yasushi Mieno Elected
Governor, Bank of Japan

Helmut Schlesinger Appointed
Former president, German Bundesbank

Jean-Claude Trichet Ex officio
Governor, Bank of France

Hans Tietmeyer Ex officio
President, German Bundesbank

Gordon Thiessen Elected
Governor, Bank of Canada

Alfons Verplaetse Ex officio
Governor, National Bank of Belgium

Philippe Wilmes Appointed
Member of the board of regents,
National Bank of Belgium

http://www.thefreelibrary.com/The+Bank+for+International+Settlements+and+the+Federal+Reserve.-a015850047

1994 ? Swiss Re
Launch of strategic alliance with Swiss Re.  

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1995

1995 the take over

1995: Korean government approves J.P. Morgan Securities as the first foreign brokerage house.
https://www.jpmorgan.co.kr/en/about-us

Beijing (China) Citibank representative office upgraded to branch  http://www.citi.com.cn/html/en/about_us/Our_history.html

1995-   AmCham Vietnam
J.P. Morgan Chase N.A.
*Banking (NAICS 522); Securities and Financial Investment (NAICS 523)
15th Floor, Saigon Tower, 29 Le Duan Boulevard District 1 Ho Chi Minh City
+84 28 3823 6270
+84 28 3823 6271

J.P.Morgan Chase Bank N.A. has maintain a direct presence in Vietnam since 1995 by operating a branch in Ho Chi Minh City and a representative office in Hanoi. The firm is global leader in investment and commercial banking, wealth management, private equity and retail financial services. Our clients include corporations, institutional investors, hedge funds, government & affluent individuals in more than 100 countries. In Vietnam, J.P. Morgan Chase Bank N.A. has firmly established its leading position as the market leader in USD clearing and liquidity management for banks in Vietnam. The bank?s Vietnam franchise offers full range of products and services to corporates in Vietnam, helping drive the client?s working capital efficiencies by integrating liquidity, trade and core cash management solutions. With long-standing commitments, we are among a few international banks that offer unmatched Vietnam research coverage and support our regional investment banking teams to provide advisory services to prominent Vietnamese corporate with their capital raising exercises from international markets and to Vietnam government in major equitisations that aims to reshape the overall corporate structure of the SOE segment. Our mission is to server major Vietnamese enterprises, multinational clients as well as financial institutions with intensive service offerings ranging from transaction services, structured products and solutions of treasury and financing to advisory and capital market.
Rep/Contact Info
Mr. Giang Thanh Bui
FIG Sales Manager

Ms. Hoa Quynh Dang
Chief Representative JPMorgan Chase Bank, N.A Hanoi Representative Office

Ms. Minh Hong Thi Ngo
Markets Sales

Ms. Linh Hoang Nguyen
MNC Corporate Banker, Global Corporate Banking

Mr. Phuoc Diem Hoang Phan
Relationship Manager, Commercial Banking

Ms. Van Phan
CEO

https://business.amchamvietnam.com/list/member/j-p-morgan-chase-n-a-214

 1995  NAB
Takeover of Neue Aargauer Bank (NAB).

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Kidder Peabody Group Inc. sold

1995-12-31 TRAVELERS INC. was renamed to TRAVELERS GROUP INC. and moved to 388 GREENWICH STREET NEW YORK, NY.CitiGroup FINANCIAL INFORMATION 1997

In 1995, First Chicago Corp. merged with NBD Bancorp., forming First Chicago NBD, the largest banking institution based in the Midwest.
http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

 NEW  J.P. Morgan in Poland
Local expertise. Global resources. Our commitment to Poland.

We have had a presence in Poland since 1995, when we opened a representative office and helped arrange a landmark Polish Eurobond issue. From Warsaw, we help our clients—corporations and government state agencies—access the capital markets through equity, debt and M&A transactions.

J.P. Morgan has operated in Europe for nearly 200 years and has a sophisticated local market presence across Europe, the Middle East and Africa (EMEA). Within the region, J.P. Morgan has an unparalleled client base and leadership across the spectrum of financial services products. The regional head office in London is complemented by a strong regional footprint, with offices in all major financial centers.

 Globally, through the JPMorgan Chase Foundation, we make philanthropic investments in cities where we have major operations, assisting those at a disadvantage by helping them build better lives for themselves, their families and their communities. Across EMEA, the firm focuses its investment and attention on three pillars: Economic Development, Financial Empowerment and Workforce Readiness.

J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise. https://www.jpmorgan.com/PL/en/about-us

1996

1996: J.P. Morgan Futures is established.
https://www.jpmorgan.co.kr/en/about-us

In December 1996, a complaint seeking unspecified monetary damages was filed by
Orange County, California against numerous brokerage firms, including Smith
Barney, in the U.S. Bankruptcy Court for the Central District of California.
Plaintiff alleges, among other things, that defendants recommended and sold to
plaintiff unsuitable securities. The case (County of Orange et al v.
Bear Stearns & Co. Inc. et al.) has been stayed by agreement of the parties.   https://www.sec.gov/Archives/edgar/data/200245/0000950123-98-007476.txt 

1996  Winterthur
Launch of strategic alliance with Winterthur Group. 1997 sees the merger of Credit Suisse Group with Winterthur.

https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

100 LARGEST FDIC, FRB, AND OCC TRUST INSTITUTIONS

On March 31, 1996, The Chase Manhattan Corporation ("Old Chase") merged into Chemical Banking Corporation ("Chemical") (the "Merger"). Both Old Chase and Chemical were incorporated in Delaware. http://www.nyc.gov/html/tat/downloads/pdf/9999det0205.pdf 

The firm jointly leads the first century bond for a sovereign borrower  a 100-year, $100 million issue for the People?s Republic of China. https://www.jpmorgan.com/pages/company-history

In 1996, The Chase Manhattan Corp. merged with Chemical Banking Corp., under the name of The Chase Manhattan Corp., creating what was then the largest bank holding company in the United States. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

NEW In the 1980s, Citi's corporate finance team in London became aware of the demand for a range of banking products that was compliant with Islamic principles, one of which is that earning interest on an investment is not allowed. In 1996, the Citi Islamic Investment Bank was set up in Bahrain. It benefited from the services of a Sharia board, peopled by reputable Islamic scholars, who would endorse banking products as acceptable from a religious viewpoint. Citi took products such as bonds, derivatives, syndicated loans, and trade finance products and converted them into Sharia-compliant instruments. Over the years, the technology was exported from the Middle East to other markets such as Malaysia, Indonesia, Pakistan, and Turkey. By 2010, Malaysian Airports Holdings Bhd (MAHB) was operating 39 airports in Malaysia and also had a presence in India, Turkey, and the Maldives. In 2010, Citi arranged an inaugural offering of 1 billion ringgit in Islamic medium-term notes for the company. The issue was oversubscribed nine times, attracting a diverse group of investors from financial institutions and asset-management companies to pension funds, insurance companies, and even some corporates. Proceeds were used for the construction of the world's biggest low-cost carrier terminal and to refinance short-term borrowings. Citi was chosen for its "global expertise and strong credentials in structuring Islamic transactions," according to Faizal Mansor, the company's chief financial officer. "Overall, we're very pleased with Citi. They have helped us to achieve superb ratings for the company. Citi's expertise allowed us to tap the capital markets at the opportune time and gain enormous support in our future as a world-class airport business." https://www.citigroup.com/citi/about/timeline/

1997

  On November 28, 1997, a newly formed wholly owned subsidiary of
Travelers Group Inc. ("Travelers") was merged into Salomon Inc
("Salomon") and Salomon became a wholly owned subsidiary of Travelers.
Following this merger, Salomon and Smith Barney Holdings Inc. ("Smith
Barney") were merged (the "Merger") to form Salomon Smith Barney
Holdings Inc. ("SSBH" and, collectively with its subsidiaries, the
"Company"). The transaction was treated as a tax-free exchange.

The condensed consolidated statement of income for the three and six
months ended June 30, 1997 and the condensed consolidated statement of
cash flows for the six months ended June 30, 1997, give retroactive
effect to the Merger as a combination of entities under common control
in a transaction accounted for in a manner similar to a pooling of
interests. The pooling of interests method of accounting requires the
restatement of all periods presented as if Salomon and Smith Barney had
always been combined. Certain reclassifications have been made to
conform the accounting policies of Salomon and Smith Barney.
https://www.sec.gov/Archives/edgar/data/200245/0000950123-98-007476.txt

 

1997  Credit Suisse Group
CS Holding becomes Credit Suisse Group, and begins operational activities on January 1, 1997. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html
 

Kevin J. Davis former  Citibank employee goes to work at    Office of Thrift Supervision OTS 

1997-11-26 TRAVELERS GROUP INC. changed from Domestic Entity Other to Savings & Loan Holding Company.

 NEW On November 28, 1997, a newly formed, wholly owned subsidiary of TRV merged
with and into Salomon Inc (Salomon) (the Salomon Merger). Under the terms of the
Salomon Merger, approximately 282.8 million shares (adjusted to reflect the
three-for-two stock split in May 1999) of Citigroup common stock were issued in
exchange for all of the outstanding shares of Salomon common stock. Thereafter,
Smith Barney Holdings Inc. (Smith Barney), a wholly owned subsidiary of
Citigroup, was merged with and into Salomon to form Salomon Smith Barney
Holdings Inc. (Salomon Smith Barney). The Salomon Merger was accounted for under
the pooling of interests method. https://www.sec.gov/Archives/edgar/data/831001/0001005477-00-002089.txt

 NEW  On July 1, 1997, Washington Mutual completed a merger of Great Western
Financial Corporation ("Great Western") into a wholly-owned subsidiary of
Washington Mutual and thereby acquired Great Western Bank ("GW Bank") and
Aristar. At September 30, 1997, Washington Mutual operated branches, primarily
in Washington, California, Oregon and Florida. In addition, Aristar operated
consumer finance offices in 23 states. At June 30, 1997, on a restated basis
with Great Western, Washington Mutual had total assets of $92.5 billion, total
deposits of $51.8 billion and stockholders' equity of $5.2 billion.                  https://www.sec.gov/Archives/edgar/data/933136/0000927087-97-000300.txt

1998

 

NationsBank acquires BankAmerica Corp to create the first coast-to-coast retail banking franchise - Bank of America  http://www.ustrust.com/ust/pages/about-us.aspx
 

1998: On November 30 Deutsche Bank announces the planned acquisition of Banker's Trust. It is the largest entry a German bank has ever made into the U.S. financial market. https://www.db.com/usa/content/en/Chronicles.html
 

Former  Citibank employee    Darina McKelvie Named Head of External Affairs at OTS

Salomon (NYSE:SB) was acquired by Travelers Group in 1998

Citicorp and Travelers Plan to Merge

1998-10-08 TRAVELERS GROUP INC. was renamed to CITIGROUP INC. and moved to 153 EAST 53RD STREET NEW YORK, NY and changed from Savings & Loan Holding Company to Bank Holding Company.

1998-10-08 COMMERCIAL CREDIT CORPORATION located at
BALTIMORE, MD was established as a Finance Company.

Citigroup Inc. was formed in October 1998 as a result of the merger between Citicorp and Travelers Group Inc. http://www.federalreserve.gov/boarddocs/press/bhc/1998/19980923/19980923.pdf  [see 1988]

Citigroup President, Heir Apparent to Top Job, Quits Abruptly

J.P. banks doing business in Russia RGAN IN RUSSIA

Citibank -The first international bank to offer integrated nationwide Renminbi (RMB) cash management
Opened Guangzhou branch 
http://www.citi.com.cn/html/en/about_us/Our_history.html

In 1998, Banc One Corp. merged with First Chicago NBD, under the name of Bank One Corp. After a subsequent merger, Bank One became the largest financial services firm in the Midwest, the fourth-largest bank in the U. S. and the world's largest Visa credit card issuer. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

In 1998, they [Mr and Mrs Sanford Weill] donated $100 million, after which medical college leaders renamed the institution Weill Cornell Medical College.  https://news.weill.cornell.edu/tags/joan-and-sanford-i-weill 

It's interesting to note how many bankers and stock holders set on hospital the boards and/or have their names on the biggest US hospitals.... I guess it would be a pro ,since banks can manipulate how 'funds [tax-payer money]' is spent.  jt  https://news.weill.cornell.edu/people/sanford-i-weill

 Executive Officers and Directors of Citigroup 1998

1999

According to the Maastricht Treaty, stage
three must start by January 1, 1999.
The exact starting date will be deter
mined as follows. By December 1996, an
inter-governmental conference comprised of
the leaders of the European Union countries
must meet to determine if EMU is ready to
commence. Prior to this meeting, the
European Commission and the EMI are
to issue reports detailing the progress
made by each country in meeting the
convergence criteria. These reports will
be sent to the Council of Ministers. The
Council of Ministers will use these reports
to determine:

Stage three will mark the final transition
to a full-fledged monetary union. At the
start of stage three, exchange rates between
member countries will be permanently fixed.
The governments of the member countries of
the monetary union, acting in consultation
with the European Commission and the
European Central Bank, will determine the
exchange rates at which currencies are to be
fixed. The determination of these fixed
exchange rates requires the unanimous con?
sent of the member states. As the final step
to EMU, individual currencies will be replaced
with a common currency. Monetary policy
decisions will be made by the independent,
supranational European Central Bank.

 https://fraser.stlouisfed.org/files/docs/publications/frbslreview/rev_stls_199507.pdf

NEW  In 1999 HSBC Holdings was listed on the New York stock market. The group acquired Republic New York Corporation (which has since merged with HSBC USA Inc.) as well as its sister company, Safra Republic Holdings SA, now HSBC Republic Holdings SA. (Luxembourg). In 2007 the group had record pre-tax results of $24bn, 60% from emerging markets in Asia, the Middle East and Latin America. That year, for the first time, profits generated in China totalled $1bn. And in 2008 HSBC’s boss, Vincent Cheng, chairman of the Hongkong and Shanghai Banking Corporation and of HSBC Bank (China), was appointed to the National Committee of the 11th Chinese People’s Political Consultative Conference  https://mondediplo.com/2010/02/04hsbc.

BRUSS, ET AL. V. LEHMAN BROTHERS INC., ET AL. On January 25, 1999 a
purported class action complaint was filed in the Superior Court of New Jersey,
Law Division: Essex County on behalf of investors in certain specified limited
partnerships sponsored by Balcor and sold by various entities, including, among
others, Shearson and certain of its affiliates. After dismissal of Plaintiffs'
original complaint in September, 1999, Plaintiffs filed an amended complaint on
November 30, 1999. That complaint names as defendants LBI, various affiliates of
LBI, Smith Barney Holdings, Inc., Balcor, a number of Balcor-originated limited
partnerships and an individual and entities affiliated with Balcor. The
complaint alleges claims in connection with the marketing, sale and operation of
the limited partnerships for common law fraud and deceit, equitable fraud,
negligent misrepresentation, and violation of certain New Jersey statutes
relating to the sale of securities. The complaint seeks compensatory damages for
lost principal and interest, general damages and punitive damages, and costs and
attorneys' fees. LBI has moved to dismiss the amended complaint.

 

1999: On June 4 the acquisition of Bankers Trust is completed. https://www.db.com/usa/content/en/Chronicles.html

Gramm-Leach-Bliley Act 1999
 

1999-05-21 COMMERCIAL CREDIT CORPORATION was
renamed to CITIFINANCIAL SERVICES, INC..

 COMMERCIAL CREDIT CORPORATION name was changed to CITIFINANCIAL, INC. ,on 05-27-1999;Entity type: Foreign Corporation;Identification Number: 520278518; Date of Registration in Massachusetts: 09-27-1983 http://corp.sec.state.ma.us/CorpWeb/CorpSearch/CorpSummary.aspx?FEIN=520278518&SEARCH_TYPE=4

Note: COMMERCIAL CREDIT CORPORATION
Document Number139497
Date Filed 08/17/1940
Effective Date None
Status Inactive
VOLUNTARY DISSOLUTION 06/14/1947

http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=COMMERCIALCREDIT%201394970&aggregateId=domp-139497-29bbea5d-84f6-4aad-8f1b-e7e4c468e1fb&searchTerm=COMMERCIAL%20CREDIT%20CORPORATION&listNameOrder=COMMERCIALCREDIT%201394970

HSBC expanded its presence in the United States

1999 The first international bank to establish a centralized customer service center (in China) http://www.citi.com.cn/html/en/about_us/Our_history.html

-The 1933 Glass-Steagall Act erected barriers keeping commercial banks separate from investment banks. Its restrictions were repealed in 1999.

End of an era for Goldman

 Edmond Safra billionaire banker ;At the time of his death, Safra  was selling his controlling stakes in both Safra Republic and Republic New York Corp. (RNB) -- banks he founded and often referred to as his "children" -- to Britain's HSBC Holdings for $3 billion.

1999-  HSBC to Pay $10.3 Billion For Republic New York Corp

1999- G-20   was founded

1999-03-29 MARINE MIDLAND BANK was renamed to HSBC BANK USA and moved to ONE HSBC CENTER BUFFALO, NY.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

2000

The 2000s

By 2004, three banks exceed a trillion dollars in assets. The number of banks declines. The number of branches increases. Interest rates are low. A housing boom occurs.
2000

    In March, the dot-com bubble bursts.
    J.P. Morgan & Company merges with the Chase Manhattan Corporation to become J.P. Morgan Chase, which is another example of the joining of investment and commercial banks.

2001
World Trade Center towers

    9/11
    Enron Corporation files for bankruptcy. The filing becomes the largest U.S. corporate failure in history and is emblematic of well-planned corporate fraud.
    The U.S. experiences a budget deficit.
    CitiGroup reports bank and non-bank assets of $1,484,000,000,000.

International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

This act accomplishes the following:

    Requires additional record keeping and reporting by financial institutions for foreign nationals
    Requires financial institutions to establish anti-money laundering programs
    Requires further cooperation between financial institutions and government agencies in fighting money laundering.

Updating and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (U.S.A Patriot Act)

This act provides the U.S. Treasury with extra authority to investigate money laundering and other activities that might be undertaken to finance terrorist actions or disrupt banking operations.
2002
WorldCom logo

    WorldCom files for Chapter 11 bankruptcy, making it the largest filing in U.S. history.
    The euro replaces the currency of 12 of the 15 countries in the European Union.

Sarbanes-Oxley Act of 2002

This act passes in response to the accounting scandals of Enron, WorldCom, and Tyco and affects all business, including banking.

This act:

    Establishes the Public Company Oversight Board to regulate public accounting firms that audit publicly traded companies
    Prohibits accounting firms from providing both auditing and consulting services
    Requires that CEOs and CFOs certify the annual and quarterly reports of publicly traded companies.

2003
U.S. Presidents
during the 2000s
George W. Bush  George W. Bush (2001-2009)

    For the first time, electronic payments (automatic transactions, credit cards, and debit cards) totaling $44.5 billion outnumber paper checks totaling $36.7 billion.
    The Federal Reserve Board reduces the number of locations at which checks are processed from 45 to 32. By 2006, the number is 23.

Fair and Accurate Credit Transactions (FACT) Act of 2003

This act:

    Improves the accuracy and transparency of the national credit reporting system
    Enhances consumer rights in situations involving alleged identity theft.

Check Clearing for the 21st Century Act of 2003 (Check 21)

This act fosters innovation in payment systems.
2004
J.P. Morgan Chase logoBank of America

    Both J.P. Morgan Chase and Bank of America report more than $1 trillion of bank and non-bank assets.
    Citigroup agrees to pay $2.65 billion to settle a lawsuit involving underwriting work of WorldCom.
    The FDIC consolidates into six regional offices.

2005
Citigroup

    Citigroup agrees to pay $2 billion to settle a class-action lawsuit over its role in the Enron collapse.
    In 2002, Citigroup sold stocks and bonds in the company before Enron filed for bankruptcy.
    Meetings continue to be held on the Basel II Accord, which is scheduled to be implemented in the U.S. on January 1, 2008.
    The definition of capital is unchanged; however, Basel II allows the largest banks to use their own internal ratings systems to measure credit risk, as well as requires banks to measure and hold capital against operational risk.      https://www.fdic.gov/about/history/timeline/2000s.html

NOTE: THE  FDIC [ Federal Deposit Insurance Corporation] HISTORY TIMELINE ENDS  why?

PITTSBURGH, Pa. and RICHMOND, Va., May 3, 2000 - Alcoa Inc. and
Reynolds Metals Company announced today that the U.S. Department
of Justice and the European Union have approved their proposed
merger and that the merger has been completed. Reynolds
shareholders had already approved the merger on February 11.

The merger adds impressive strengths to Alcoa's worldwide
operations, including the Reynolds brand name, its packaging and
consumer products businesses, smelting operations, manufacturing
operations serving the construction and transportation markets,
and bauxite reserves in Brazil, Guyana and Guinea.

Under the terms of a consent decree entered into with the DOJ and
an undertaking agreed with the EU, Alcoa will sell a 25% interest
in Reynolds' Longview, Washington aluminum smelter, as well as
Reynolds' interest in three alumina refineries: Worsley,
Australia (56% owned); Stade, Germany (50% owned); and Sherwin,
Texas (100% owned).
https://www.sec.gov/Archives/edgar/data/83604/000008360400000024/0000083604-00-000024.txt

Reynolds was sold to Alcoa in 2000, five years after Mr. Reynolds stepped down from its board.   https://www.nytimes.com/2011/09/01/business/david-reynolds-leader-of-metals-company-dies-at-96.html

 

PaineWebber will become an integral part of UBS Warburg. UBS to Merge with PaineWebber    NEW

 
UBS to Merge with PaineWebber
UBS will offer $73.50 per PaineWebber share valuing PaineWebber?s outstanding share capital at
$10.8 billion. The merger is recommended by the board of PaineWebber and supported by General
Electric
and Yasuda Mutual Life, PaineWebber?s two largest shareholders, who together account for
approximately 30% of the issued share capital.
PaineWebber will become an integral part of UBS Warburg. Combining UBS Warburg?s premium
content and global reach with PaineWebber?s private client franchise, and uniting the two highly
complementary institutional franchises creates a preeminent global investment services firm. UBS
Warburg will be one of the few financial institutions possessing top-class private, institutional and
corporate client franchises, across the world, served by a full range of content, products and services.
New York, 12 July 2000 ? Marcel Ospel, President and CEO of UBS, and Donald B. Marron, Chairman
and CEO of PaineWebber, announced today that UBS and PaineWebber have entered into a definitive
merger agreement.
https://www.sec.gov/Archives/edgar/data/75754/000095015700000328/0000950157-00-000328-0002.pdf   NEW

In 2000, J.P. Morgan & Co. Incorporated merged with The Chase Manhattan Corp., effectively combining four of the largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase, Chemical and Manufacturers Hanover) into one firm under the name of J.P. Morgan Chase & Co. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history
 

2000-03-13 CITIGROUP INC. changed from Bank Holding Company to Financial Holding Company - Domestic.
2000-09-11 CITIGROUP INC. moved to 399 PARK AVENUE NEW YORK, NY.

http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=1951350&parDT_END=99991231

J.P. Morgan merges with The Chase Manhattan Corporation and is named JPMorgan Chase and Co. Four years later, the company merges with Bank One, creating a global financial services leader.  https://www.jpmorgan.com/pages/company-history


NEW4.7(b)           First Supplemental Indenture, dated as of December 29, 2000, among J.P. Morgan & Co. Incorporated, The Chase Manhattan Corporation (now known as J.P. Morgan Chase & Co.), and U.S. Bank Trust National Association, as Trustee, to the Indenture, dated as of March 1, 1993 (incorporated by reference to Exhibit 4.7(b) to the Annual Report on Form 10-K of J.P. Morgan Chase & Co. (File No. 1-5805) for the year ended December 31, 2000).https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm

J.P. Morgan Chase & Co. (“JPMorgan Chase” or “the Firm”) is a financial holding company incorporated under Delaware law in 1968. As of December 31, 2002, JPMorgan Chase was one of the largest banking institutions in the United States, with $759 billion in assets and $42 billion in stockholders’ equity.       http://https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm


On December 31, 2000, J.P. Morgan & Co. Incorporated (“J.P. Morgan”) merged with and into The Chase Manhattan Corporation (“Chase”). Upon completion of the merger, Chase changed its name to “J.P. Morgan Chase & Co.” The merger was accounted for as a pooling of interests. As a result, the financial information provided herein presents the combined results of Chase and J.P. Morgan as if the merger had been in effect for all periods presented. In addition, certain prior-period amounts for the predecessor institutions’ financial statements have been reclassified to conform to the current presentation. https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm

4.7(a)           Indenture dated as of March 1, 1993, between J.P. Morgan & Co. Incorporated (succeeded through merger by J.P. Morgan Chase & Co.) and U.S. Bank Trust National Association, as Trustee (incorporated by reference to Exhibit 4.7(a) to the Annual Report on Form 10-K of J.P. Morgan Chase & Co. (File No. 1-5805) for the year ended December 31, 2000).

http://https://www.sec.gov/Archives/edgar/data/19617/000095012303002985/y83354e10vk.htm

2001

 American Patriots Act

On December 2, 2001, Enron and certain of its subsidiaries each filed a
voluntary petition for relief under chapter 11 of title 11 of the United States
Code in the United States Bankruptcy Court for the Southern District of New
York. Additional Enron subsidiaries have filed voluntary petitions since that
time. It is estimated that Enron had in excess of 2,500 subsidiaries prior to
its bankruptcy filing. Enron's bankruptcy was followed by the dismissal of its
auditors, Arthur Andersen LLP, investigations by numerous state and federal
agencies, and the filing of numerous law suits. A significant number of Enron
employees were terminated from their positions or left the company voluntarily
for employment elsewhere, and many Enron subsidiaries and assets have been sold,
wound down, and or closed. All these factors have caused significant disruption
at Enron and it is impossible to state with certainty what assets and
subsidiaries currently comprise the Enron group of companies. Nevertheless,
based on information obtained from Enron's corporate secretary and other
employees, Enron's bankruptcy counsel, Weil, Gotshal and Manges, LLP, and public
sources, Enron has been able to compile a list that is believed to be
substantially accurate. The list describes, to the best of Enron's knowledge,
all the companies which qualify as subsidiaries of Enron.

In addition, on November 29, 2001, and on various dates thereafter, certain
foreign affiliates of Enron in England went into administration. Shortly
thereafter, various other foreign affiliates also commenced (either voluntarily
or involuntarily) insolvency proceedings in Australia, Singapore, and Japan.
Additional filings have continued world-wide and insolvency proceedings for
foreign affiliates are continuing for various companies registered in Argentina,
Bahamas, Bermuda, Canada, the Cayman Islands, France, Germany, Hong Kong, India,
Italy, Mauritius, the Netherlands, Peru, Spain, Sweden, and Switzerland. Once a
foreign affiliate is placed into a foreign insolvency proceeding, control of the
foreign affiliate along with the management and distribution of its assets will
generally be transferred to an insolvency practitioner, such as an
administrator, receiver, or liquidator. Thus, commencement of most foreign
proceedings results in a loss of ultimate control by Enron and its subsidiaries
over the assets of the foreign affiliate. The foreign affiliates in insolvency
proceedings are indicated in the list. By including such companies in the list,
Enron does not concede that these companies are currently direct or indirect
Enron subsidiaries as such term is defined under Section 2(a)(8) of the Act.
ENRON CORP
 

FEDERAL RESERVE SYSTEM
The Chase Manhattan Bank
New York, New York
Order Approving the Merger of Banks
The Chase Manhattan Bank (AChase Bank@), a state member bank,
has applied under section 18(c) of the Federal Deposit Insurance Act (12 U.S.C.
' 1828(c)) (the "Bank Merger Act") to merge with Chase Bank of Texas B San
Angelo, National Association, San Angelo, Texas (?Chase Texas?). Chase Bank
would be the surviving institution.1

http://www.federalreserve.gov/boarddocs/press/bhc/2001/20010709/attachment.pdf

Bin Laden Family Could Profit From a Jump In Defense Spending Due to Ties to U.S. Bank

2001: On October 3 - three weeks after the terror attacks on September 11 - trading in the Deutsche Bank share starts on the New York Stock Exchange. https://www.db.com/usa/content/en/Chronicles.html

STATE OF NEW YORK INSURANCE DEPARTMENT
REPORT ON EXAMINATION OF THE FIRST CITICORP LIFE INSURANCE COMPANY AS OF DECEMBER 31, 2001 
http://www.dfs.ny.gov/insurance/exam_rpt/ny801c45.pdf

On November 11, 2001, in connection with the merger of The Chase Manhattan Bank and Morgan Guaranty Trust Company of New York, the surviving corporation, was renamed JPMorgan Chase Bank. https://www.sec.gov/Archives/edgar/data/1304428/000119312504164917/d305b2.htm

2002

NEWCory L. Braun-Senior Vice President  Fleet Home Equity USA, INC  August 26, 2002
Agreement and plan of merger between Fleet Home Equity USA, Inc.,a Delaware corporation (surviving corporation) and Fleet Finance, Inc., a Florida corporation (hereinafter referred to as the "merged corporation")(the merged corporation and the surviving corporation are hereinafter collectively referred to as the "constituent").

  7 banks found to help Enron disguise debt
FROM WIRE REPORTS |
JUL 24, 2002 AT 3:00 AM

WASHINGTON - Seven major investment banks gave Enron Corp. multimillion-dollar loans that helped the now-bankrupt company disguise its financial condition, and in some cases, they knew that Enron was using deceptive accounting for the loans, a Senate investigator testified yesterday.

Subcommittee investigators said Enron - struggling with a secretly crumbling balance sheet - obtained financing of $8.5 billion over nine years from Citigroup Inc. and J.P. Morgan Chase & Co., which took in hefty fees and interest payments.

Five other investment banks had similar investment deals with Enron totaling about $1 billion.

Shares of Citigroup Inc. and J.P. Morgan Chase & Co. plunged yesterday, erasing $58 billion in combined market value this week, as the banks disputed the allegations.

The investigative subcommittee of the Senate Governmental Affairs Committee reviewed a million pages of documents, most of them subpoenaed, and interviewed dozens of witnesses from Enron and its Wall Street investment banks.

Some banks actively aided Enron in its dodgy accounting in return for big fees and favors in other deals, investigator Robert L. Roach told a subcommittee hearing.

"The evidence indicates that Enron would not have been able to engage in the extent of the accounting deceptions it did, involving billions of dollars, were it not for the active participation of major financial institutions willing to go along with and even expand upon Enron's activities," Roach testified.

Some of the banks allowed investors to rely on Enron financial statements they knew were misleading, said Roach, a counsel for the subcommittee.

The banks used complex financial transactions to boost Enron's anemic cash flow to match its profit growth on paper, according to lawmakers.

The Houston energy-trading company recorded the money from the bank loans as prepaid trades of natural gas and other commodities with an entity based in the Channel Islands off Britain.

Roach said Citigroup , the nation's largest financial institution, and J.P. Morgan, also pitched the deals to other companies.

Citigroup "shopped" the Enron-style deals to 14 companies, selling them to at least three, Roach testified.

Enron, which filed for bankruptcy protection in December, taking the investments of millions of people with it, used a web of thousands of off-balance-sheet partnerships to hide about $1 billion in debt from investors and federal regulators.

If not for the deals with the banks, Enron's debt would have been $14 billion in 2000 rather than the $10 billion the company reported, and its cash flow would have been half of the $3.2 billion it reported, according to subcommittee investigators.

If the true picture had been known, it would have put downward pressure on Enron's stock price and on its ratings from agencies such as Moody's Investors Service and Standard & Poor's.

Officials of those agencies, testifying at yesterday's hearing, said they were unaware of the transactions with the banks and that Enron misled them and withheld information.

"Why didn't the watchdogs bark?" Democratic Sen. Joseph I. Lieberman of Connecticut asked the credit-rating officials.

In a 1998 e-mail, a J.P. Morgan Chase executive in Houston wrote, "Enron loves these deals."

Enron officials "are able to hide ... debt" from Wall Street analysts, he wrote.

Jeffrey Dellapina, a managing director of J.P. Morgan Chase at its New York headquarters, testified that the e-mail was "inaccurate."

Officials of the two financial companies denied any wrongdoing, saying lenders shouldn't be held responsible for how borrowers such as Enron recorded their loans.
The transactions were "standard practice in structured finance," said Dellapina.

Richard Caplan, managing director and co-head of the Credit Derivatives Group at Citigroup's Salomon Smith Barney subsidiary, said Enron financings were arranged for a top U.S. company, using a common structure approved by a leading accounting firm.

Bank officials stressed at the hearing that Enron's former auditor, Arthur Andersen, had approved the company's accounting of the transactions.
Before senators heard the testimony, they decried the wave of accounting scandals rocking investors' confidence and the markets.

Telecommunications giant WorldCom Inc. made the biggest bankruptcy filing in U.S. history Sunday, less than a month after disclosing that it had hidden nearly $4 billion in expenses through deceptive accounting.

"It's clear that Enron was not alone in shady financial dealings," said Republican Sen. Jim Bunning of Kentucky. "Americans across this country are watching their savings and their pensions dwindle."

Citigroup has called the transactions with Enron "entirely appropriate at the time based on what we knew and what we were told by Enron."

Robert S. Bennett, Enron's Washington attorney, has said the company will continue to cooperate with investigations by Congress, the Justice Department and the Securities and Exchange Commission, and that people should not "rush to judgment."

Yesterday Citigroup shares dropped $5.04, or nearly 16 percent, to $27, a three-year low. J.P. Morgan shares sank $4.44, or 18 percent, to $20.08, the lowest since January 1996.

"Any time you get tarred with the Enron name, you are going to get whacked," said David E. Nelson, who manages $450 million for Legg Mason American Leading Companies Trust Fund, which holds Citigroup and J.P. Morgan shares.

Besides Citigroup and J.P. Morgan Chase, subcommittee staff members said smaller deals worth $1 billion in total involved Credit Suisse Group Inc., Barclays PLC, FleetBoston Financial Corp., Royal Bank of Scotland Group PLC and Toronto-Dominion Bank.

Class action lawsuits filed this spring by Enron investors and former employees have named as defendants Citigroup, J.P. Morgan, Credit Suisse, Barclays and other leading banks, alleging that they schemed with former Enron executives to bilk investors out of tens of billions of dollars.

Bloomberg News contributed to this article.

https://www.baltimoresun.com/business/bal-bz.banks24sjul24-story.html

Sarbanes-Oxley Act of 2002

   2002  New Organizational Structure   
Group organizational structure is streamlined to create two business units: Credit Suisse Financial Services and Credit Suisse First Boston. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

2003

  U.S. Securities and Exchange Commission Report of Investigation

 

NEW  The financial impact on Florida's government from substance abuse-related costs and services is significant. According to the National Center on Addiction and Substance Abuse at Columbia University, in 1998, the most recent year for which these data are available, Florida spent over $3.1 billion on substance abuse-related costs and services. This entailed spending across program areas including justice, education, health, child-family assistance, mental health-developmental disabilities, public safety, and the state workforce. This figure amounted to almost 10 percent of the total expenditures for the state. When the cost of lost productivity and nongovernmental expenses by private social services are factored in, estimates for total substance abuse-related costs are even higher.

Money laundering poses a serious threat to Florida, particularly in the greater Miami area. Law enforcement authorities and money laundering experts report that Florida faces one of the highest money laundering threats in the country. The state's transportation infrastructure, international banks, ethnic diversity, and proximity to drug source and transit countries as well as to offshore banking centers make Florida an ideal location for money laundering.

Colombian, various Caribbean, and Mexican DTOs and criminal groups, particularly in southern Florida, are the most dominant drug money launderers in the state. However, various other DTOs, criminal groups, and independent money launderers conduct money laundering operations in the state. Money launderers frequently structure bank deposits and transmit drug proceeds by wire in an attempt to conceal illegal drug activities. In southern Florida 7,244 Suspicious Activity Reports (SARs) were filed by financial institutions in FY2001, the third highest number of filings in the United States. From 1997 through 2001, 59 percent of the money laundering violations cited in SARs involved structuring of transactions to avoid currency reporting requirements. Currency also is smuggled in bulk, often by couriers traveling aboard commercial airlines and by maritime conveyances. Operation Jetway data indicate that almost $1.6 million dollars were seized at Florida airports in 2001. USCS officials in Florida seized $6,041,286 in bulk currency from outbound shipments in FY2001. USCS officials also report that the Colombian Black Market Peso Exchange (BMPE), an unofficial currency exchange system, is one of the primary methods used to launder money in southern Florida.

Black Market Peso Exchange System

    The BMPE is a money laundering system through which Colombian DTOs and criminal groups launder billions of dollars annually. Black market currency brokers, for a fee, match the needs of Colombian DTOs for local currency with the needs of merchants for American dollars. Colombian DTOs use pesos to pay expenses and finance drug operations. Merchants use dollars to purchase goods inside the United States and elsewhere. The goods often are falsely invoiced or smuggled into Colombia to avoid taxes and tariffs. Merchants often resort to the BMPE to obtain dollars because it is generally more efficient and less expensive than purchasing currency through the official banking system. https://www.justice.gov/archive/ndic/pubs5/5169/overview.htm

As of December 31, 2003, Bank One and its subsidiaries had 71,196 full time and part time employees with benefits. This figure does not include employees on long-term disability.                 https://www.sec.gov/Archives/edgar/data/727310/0000950112-94-001386.txt  NEW

2003: Deutsche Bank's US-headquarter moves to 60 Wall Street. The move is the result of an agreement between Deutsche Bank and the World Trade Center Job Creation and Retention program, which provides support for businesses relocating to Lower Manhattan.  https://www.db.com/usa/content/en/Chronicles.html

Court Registry Investment System (CRIS)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
: SECURITIES AND EXCHANGE
COMMISSION,
:  
Plaintiff,
: :
Civil Action No.

against

: JACK BENJAMIN GRUBMAN,
: Defendant.
: :
CONSENT OF DEFENDANT JACK BENJAMIN GRUBMAN
1. Defendant Jack Benjamin Grubman (?Defendant?) acknowledges having been served with the Complaint in this action, enters a general appearance, and admits the Court?s jurisdiction over Defendant and over the subject matter of this action.
2. Without admitting or denying the allegations of the Complaint (except as to personal and subject matter jurisdiction, which Defendant admits), Defendant hereby consents to the entry of the Final Judgment in the form attached hereto and incorporated by reference herein, which, among other things: a) permanently restrains and enjoins Defendant from aiding and abetting violations of Section 15(c) of the Exchange Act [15 U.S.C. ? 78o(c)] and Rule 15c1-2 thereunder [17 C.F.R. ? 240.15c1-2], and from violations of Rules 2110 and 2210 of the Conduct Rules of NASD Inc. (?NASD?) and Rules 401, 472, and 476 of the New York Stock Exchange, Inc. (?NYSE?); and b) orders Defendant to pay a total amount of $15,000,000.
3. As a result of the violations alleged in the Complaint, Defendant shall pay a total amount of $15,000,000, which amount includes:
a) $7,500,000, as a penalty; and b) $7,500,000, as disgorgement of bonuses and other monies.
4. The amount of $15,000,000, which is the sum of the penalty of $7,500,000 and disgorgement of $7,500,000, consists of (1) $7,500,000 in connection with the resolution of this action and related proceedings instituted by NASD and NYSE (the
?Federal Payment?); and (2) $7,500,000 that Defendant has agreed to pay in connection with the resolution of a related
proceeding by the Office of the New York Attorney  General (the Defendant?s settlement with the  Office of the New York Attorney General hereinafter shall be called the ?N.Y. State Settlement?). Defendant shall pay $5,000,000 of the Federal Payment by wire transfer within 90 business days of the entry of this Final Judgment and the remaining $2,500,000 of the Federal
Payment by wire transfer by December 31, 2003 to the Clerk of this Court, together with a cover letter identifying Jack B.
Grubm an as a defendant in this action; setting forth the title and civil action number of this action and the name of this Court; and specifying that payment is made to the Court Registry Investment System (CRIS) Distribution  Fund Account pursuant to this Final Judgment. Defendant shall simultaneously transmit photocopies of its payment and letter to the Clerk of the Court to the SEC?s counsel in this action. By making this payment https://www.sec.gov/litigation/litreleases/consentgrubman.pdf

New Deal for Citi, Chinese Bank
May 28, 2003, 1:00 a.m. EDT 1 Min Read

Shanghai Pudong Development Bank announced Tuesday that Citibank has concluded an agreement to purchase a minority stake in the Chinese bank.

The agreement calls for Citibank Overseas Investment Corp. to pay $62.2 million for a 4.62% stake in Pudong Development, one of four listed banks in China.

In an initial deal reached late last year and unveiled this year, the Citigroup Inc. unit said it would pay about $72.5 million for a 5% stake. A rights issue offered by the Chinese bank around the time of that arrangement diluted Citibank's interest.

A spokeswoman for Citibank in Shanghai would not comment beyond Pudong Development's recent statements.

In Tuesday's announcement, the Chinese bank said that Citibank will buy 180 million nontradable shares from two state-owned holders: Shanghai State Asset Management Office and Shanghai Jiushi Group. The New York-based company will pay 37 cents a share.

Citibank has until the end of next month to complete its purchase of the stake, or the arrangement is void, Pudong Development said.

According to separate documents issued by the Chinese bank last month, Citibank has the right to buy up to 24.9% of Pudong Development between 2006 and 2008.

The U.S. bank has said it hopes the arrangement will help it to offer credit cards to Chinese consumers and lay the groundwork for further cooperation between the banks.

Citibank has done business in China since 1902 but has not established a very large toehold there, because the government has always curtailed the activities of foreign banks.

But that has not stopped Citi and its peers from trying to establish operations there. About a decade ago Citi and other U.S. companies began a genuine push in China. Last year Citi, along with some of its biggest foreign competitors, won the right to offer foreign currency transaction services to Chinese individuals and corporations.

The big opportunity may still be four years away. As a new member of the World Trade Organization, China has until 2006 to fully open its markets to foreign financial services organizations.

https://www.americanbanker.com/-198394-1.html
 

2004

What better way to control the stock market than owning the media that feeds the news to potential buyers, inside and outside the United States!?   jt

2004-07-01 HSBC BANK USA was renamed to HSBC BANK USA, NATIONAL ASSOCIATION and moved to 90 CHRISTIANA ROAD NEW CASTLE, DE and changed from State Member Bank to National Bank.
2004-08-25 HSBC BANK USA, NATIONAL ASSOCIATION moved to 1105 NORTH MARKET ST WILMINGTON, DE.
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

Bank 1 and JPMORGAN

James Dimon  EMPLOYMENT AGREEMENT

Morgan Guaranty Trust Company    

Meet the Un-Enron: Banking's Next Top Gun

----Acquisition of Washington Mutual Finance Corporation
On January 9, 2004, Citigroup acquired Washington Mutual Finance Corporation (WMF) for $1.25 billion. WMF was the consumer finance subsidiary of Washington Mutual, Inc. WMF provides direct consumer installment loans and real-estate-secured loans, as well as sales finance and the sale of insurance. The acquisition includes 427 WMF offices located in 26 states, primarily in the Southeastern and Southwestern United States. WMF has more than 2,300 employees and total assets of $3.8 billion. Citicorp has guaranteed all outstanding unsecured indebtedness of WMF in connection with this acquisition.

http://www.citigroup.com/citi/investor/data/q0401c.pdf

On January 14, 2004, J.P. Morgan Chase & Co. and Bank One entered into an agreement to merge Bank One into J.P. Morgan Chase. Bank One and J.P. Morgan Chase expect to complete the transaction in mid-2004.   https://www.sec.gov/Archives/edgar/data/727310/0000950112-94-001386.txt     NEW

On February 22, 2004, Citigroup and KorAm Bank announced that they, together with an investor consortium led by The Carlyle Group and JP Morgan Corsair II (the investor consortium), signed an agreement for Citigroup to acquire a controlling interest in KorAm. Based on 2003 revenues, KorAm Bank is the seventh-largest commercial bank in Korea, with 222 domestic branches and total assets of $35.9 billion.
http://www.citigroup.com/citi/investor/data/q0401c.pdf

--January 30, 2004   FEDERAL RESERVE SYSTEM
J.P. Morgan Chase & Co.
New York, New York
 
Order Approving Acquisition of a Savings Association

---March 26, 2004-  FEDERAL RESERVE SYSTEM
J. P. Morgan Chase & Co. New York, New York
Notice of Public Meetings
New York, New York Chicago, Illinois

Background and Public Meeting Notice
On February 9, 2004, J. P. Morgan Chase & Co., New York, New York (?JPMorgan Chase?), requested the Board?s approval under the Bank Holding Company Act (12 U.S.C. ? 1841 et seq.) (?BHC Act?) to merge with Bank One Corporation, Chicago, Illinois (?Bank One?). The Board hereby orders that public meetings on the JPMorgan Chase/Bank One proposal be held in New York, New York, and Chicago, Illinois.

Effective July 1, 2004, Bank One Corporation (?Bank One?) merged with and into JPMorgan Chase & Co. (the ?Merger?), pursuant to an Agreement and Plan of Merger dated January 14, 2004. As a result of the Merger, each outstanding share of common stock of Bank One was converted in a stock-for-stock exchange into 1.32 shares of common stock of JPMorgan Chase & Co. (?JPMorgan Chase? or the ?Firm?). The Merger was accounted for using the purchase method of accounting. The purchase price to complete the Merger was $58.5 billion.   https://www.sec.gov/Archives/edgar/data/19617/000095012305002539/y05475e10vk.htm 

On July 1, 2004, Bank One Corporation merged with and into JPMorgan Chase. Accordingly, 2004 results include six months of the combined Firm?s results and six months of heritage JPMorgan Chase results. https://www.sec.gov/Archives/edgar/data/19617/000095012309003840/y74757e10vk.htm    

--- FEDERAL RESERVE SYSTEM
Barclays Bank PLC London, England
FEDERAL RESERVE SYSTEM
Barclays Bank PLC London, England

Order Approving Notice to Engage in Activities  Complementary to a Financial Activity
Barclays Bank PLC (Barclays), a foreign bank that is treated as a financial holding company (FHC) for purposes of the Bank Holding Company Act (BHC Act), has requested the Boards approval under section 4 of the BHC Act (12 U.S.C.  1843) and the Board?s Regulation Y (12 C.F.R. Part 225) to engage in physical commodity trading in the United States. Barclays currently conducts physical commodity trading outside the United States.
 Complementary to a Financial Activity
Barclays Bank PLC (?Barclays?), a foreign bank that is treated as a financial holding company (?FHC?) for purposes of the Bank Holding Company Act (?BHC Act?), has requested the Board?s approval under section 4 of the BHC Act (12 U.S.C. ? 1843) and the Board?s Regulation Y (12 C.F.R. Part 225) to engage in physical commodity trading in the United States. Barclays currently conducts physical commodity trading outside the United States.

---------------------------------------------------------------------------------------------

2004: Standing Up for Community Bankers
Virginia banker Elizabeth Duke becomes the first female ABA chairman. She would go on to serve on the Federal Reserve Board from 2007 to 2013.  https://www.aba.com/about-us/our-story/aba-history/2000-present

Arnold Budding  Chase banker hanged himself during an intense management seminar NEW

NEW YORK and CHICAGO, July 1, 2004 J.P. Morgan Chase & Co. (NYSE:JPM) and Bank One Corporation today completed the merger of their holding companies, effective 12:01 a.m. July 1, 2004. The combined company will be known as J.P. Morgan Chase & Co.

Bank One stockholders will receive 1.32 shares of JPMorgan Chase common stock for each share of Bank One common stock. JPMorgan Chase stock will continue to trade on the New York Stock Exchange under the ticker symbol JPM; Bank One stock traded for the last time June 30, 2004.

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries.  https://www.sec.gov/Archives/edgar/data/19617/000119312504112906/dex991.htm

 Alistair Wilson  Bank of Scotland shot to death on his doorstep    NEW

Agreement, dated September 24, 2004 among OppenheimerFunds, Inc. (the
"Adviser"), Oppenheimer Principal Protected Trust III (the "Trust") on behalf
of its series, Oppenheimer Principal Protected Main Street Fund III(R)(the
"Fund"), J.P. Morgan Chase Bank (the "Custodian") and Merrill Lynch Bank USA
(the "Warranty Provider").
https://www.sec.gov/Archives/edgar/data/1287225/000072888904000797/preeffno1seragmtppmsiii0904.htm

Bank of Boston Corporation, former American bank holding company that was acquired by Fleet Financial Group in 1999. The bank, one of the oldest in the United States, was originally chartered in 1784 as the Massachusetts Bank.

 In 1903 it merged with the First National Bank of Boston (established in 1859 as the Safety Fund Bank) and assumed the latter’s name, which it kept until 1970.

Bank of Boston conducted business with individual and commercial customers in the areas of finance, banking, and trust services. It was headquartered in Boston, Mass.

Subsidiaries of the corporation provided numerous services, including lending, cash-management programs, payroll processing, equipment leasing, and data processing. They also offered money-market operations, trust and agency services, factoring, mortgage banking, venture-capital financing, and commercial finance.

The Bank of Boston Corporation was formed in 1970 as the First National Boston Corporation. A reorganization followed that merged First National Bank of Boston and Old Colony Trust Company into the newly formed Massachusetts Bank NA, which then assumed the name First National Bank of Boston. It was renamed the Bank of Boston, N.A., in 1982 and became BankBoston Corporation in 1997. After the company was acquired in 1999 by another leading New England banking firm, Fleet Financial Group, the newly formed company, FleetBoston Financial, was acquired by Bank of America in 2004.  https://www.britannica.com/topic/Bank-of-Boston-Corporation

 2005

TAX EXEMPT SECURITIES TRUST  2005   NEW

2005 ? One Bank
Credit Suisse implements its One Bank strategy by merging its Credit Suisse legal entities in Switzerland with Credit Suisse First Boston. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

JPMorgan Chase & Co. New York, New York Order Approving Notice to Engage in
Activities Complementary to a Financial Activity

CITIGROUP INC. (1951350) acquires CITICORP (1042351) 2005-08-01 The acquired institution sold its assets to the acquiring institution.

CITIGROUP INC. (1951350) acquires CITIGROUP HOLDINGS COMPANY (2879844) 2005-08-01 The acquired institution sold its assets to the acquiring institution.

Seized documents point to Neftyanoi Bank money laundering role

JP Morgan Chase owned slaves  Today,the banks continue to keep black and white Americans slaves... by pitting one against the other. jt NEW

James Gottlieb

Arthur Zankel   player in the merger of Citibank and Travelers Group insurance company

 George Fisher Baker    

Mortgage Loan Sellers  JPMorgan etc  

Edouard Stern   French banker  murdered  (shot 3 times) 

2006

 

The Churn
People

Feb. 17, 2006

People

Sullivan & Cromwell has named Joseph Shenker vice chairman. The promotion puts Mr. Shenker, who has been at the firm since

1980, in line to succeed H. Rodgin Cohen as chairman.

Jeffrey Zuckerman, formerly deputy director for compliance at Morgan Stanley, has joined Pillsbury Winthrop Shaw Pittman

as a partner in its securities and corporate investigations practice in New York. Mr. Zuckerman had previously been deputy

general counsel and head of the regulatory investigations group at Smith Barney and had been an enforcement lawyer for the

Securities and Exchange Commission.

Lehman Brothers has announced that Richard L. Haydon has joined the Straus Group high-net-worth team within Neuberger

Berman as a senior portfolio manager and a managing director. Mr. Haydon was previously a senior portfolio manager at

Omega Advisors, the hedge fund.

Andrew P. Brozman and Jennifer C. DeMarco have joined Clifford Chance as partners in the New York office.

Deutsche Bank Securities has named John Curran as a managing director and head of liability structuring in North America.

Mr. Curran had been at Lehman Brothers. James Joyce and Don Scott have also joined Deutsche Bank as directors in the

securitized products group. Both men, who were previously at CIBC, are based in Toronto. And Eugenio Alarcon has joined

Deutsche Bank in Mexico as a director, responsible for capital markets funding and liability management opportunities in

the region. He was previously deputy director general of external credit with the ministry of finance in Mexico.

Joel Press, senior partner and founder of Ernst & Young's hedge fund practice, is retiring. Arthur Tully and Michael

Serota have been appointed co-heads of the practice.

Bank of America's global wealth and investment management division has named Stephen Pollack credit and banking executive.

Bank of America has also announced that Len Heckwolf will head its new payments and receipts product management group. Mr.

Heckwolf joins from J. P. Morgan Chase.

Kenneth Lowenstein has joined the New York office of Bryan Cave to expand its land-use practice. Mr. Lowenstein was

formerly counsel at Weil, Gotshal & Manges.

Mary Kennedy is joining the Washington office of Arnold & Porter as trial training counsel. https://www.nytimes.com/2006/02/17/business/people.html

    
ARIN is a nonprofit corporation with headquarters in Chantilly, Virginia, United States. ARIN is one of five regional Internet registries in the world.
.
American Registry for Internet Numbers.
Founded
 April 18, 1997
Area served
 Key people
 John Curran (President and CEO) Richard Jimmerson (COO)
Website
 www.arin.net
American Registry for Internet Numbers - Wikipedia
en.wikipedia.org › wiki › American_Registry_for_Internet_Numbers  http://https://en.wikipedia.org/wiki/John_Curran_(businessman)

 

 Paul Casimir Marcinkus

2006: J.P. Morgan opens office in Riyadh, Saudi Arabia.
https://www.jpmorgan.com/EG/en/about-us

On September 29, 2006, BlackRock, Inc. (BlackRock or the Company) completed the acquisition of Merrill Lynch Investment Managers (the MLIM Business or MLIM) and issued 52,395,082 shares of BlackRock common stock and 12,604,918 shares of series A participating preferred stock to Merrill Lynch & Co. (Merrill Lynch) in consideration for the MLIM Business (the MLIM Transaction). Total consideration issued to Merrill Lynch was $9,084, including capitalized transaction costs and net of cash acquired. The acquisition of the MLIM Business added to BlackRock's existing investment management capabilities for retail and institutional investors through proprietary and third-party distribution channels globally. The acquired MLIM Business included equity, fixed income, cash management, indexed, enhanced index, balanced and alternative investment products, offered through vehicles such as mutual funds, non-registered investment management vehicles, privately managed investment accounts and retail and institutional separate accounts with approximately $589.2 billion in assets under management (AUM). In completing the MLIM Transaction, the Company expects, among other things, increased opportunities for growth as the result of broad investment and risk management capabilities and global scale; increased retail presence in the U.S. and a stronger reputation in Europe and Asia; and new opportunities for distributing BlackRock investment management products through access to Merrill Lynch's distribution network.  https://www.sec.gov/Archives/edgar/data/1364742/000119312507266503/dex994.htm
 

NEW Transaction Agreement and Plan of Merger, dated February 15, 2006, by and among Merrill Lynch & Co., Inc., BlackRock Inc., New Boise, Inc. and Boise Merger Sub, Inc.
-4-     https://www.sec.gov/Archives/edgar/data/65100/000095012306002106/y17823e8vk.htm

During the third quarter of 2006, Merrill Lynch completed the merger of its Merrill Lynch Investment Managers business with BlackRock, Inc. Merrill Lynch recognized a gain associated with this merger along with other non-recurring expenses, collectively ?Impact of BlackRock Merger?.  https://www.sec.gov/Archives/edgar/data/65100/000095012307002747/y29387exv99w1.htm

THE PNC FINANCIAL SERVICES GROUP, INC       NEW note: Pittsburgh National Corporation
The name "PNC" is derived from the initials of both of the bank's two predecessor companies: Pittsburgh National Corporation and Provident National Corporation

 EMERGENT BIOSOLUTIONS INC.  J.P. MORGAN SECURITIES INC.  NEW

  From Florida Corporation site sunbiz  

   2006  New Integrated Bank     
Credit Suisse celebrates its 150th anniversary. At the same time it begins life as a globally integrated bank. In keeping with its new status it launches a new logo.  
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

 

CITIGROUP INC. (1951350) acquires  CITIBANK (WEST) BANCORP INC. (3158452) 2006-10-01 The acquired institution sold its assets to the acquiring institution.

CITIGROUP INC. (1951350) acquires CITIBANK (WEST) HOLDINGS INC. (3158395) 2006-10-01 The acquired institution sold its assets to the acquiring institution.

http://investor.shareholder.com/JPMorganChase/releasedetail.cfm?releaseid=216082

Andrei Kozlov (Sept) a Central Bank official who oversaw efforts to clean up the Russia's murky banking industry,murdered.

Gianmario Roveraro Italian banker murdered

NEW   ELEVENTH AMENDMENT TO THE CREDIT AGREEMENT

among

FORD MOTOR COMPANY,
The Subsidiary Borrowers from Time to Time Parties Thereto,

The Several Lenders from Time to Time Parties Thereto,
JPMORGAN CHASE BANK, N.A.,as Administrative Agent,

JPMORGAN CHASE BANK, N.A., acting through its Hong Kong Branch,

as RMB Administrative Agent,

and

BANCO BRADESCO S.A.,
as Brazilian Administrative Agent,

Dated as of December 15, 2006,
as Amended and Restated as of November 24, 2009,
and as further Amended and Restated as of April 30, 2014

J.P. MORGAN SECURITIES LLC,
as Bookrunner and Lead Arranger

BANCO BRADESCO S.A., BARCLAYS BANK PLC, BNP PARIBAS SECURITIES CORP., CITIGROUP GLOBAL MARKETS INC., COMMERZ MARKETS LLC, CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, CREDIT SUISSE SECURITIES (USA) LLC, DEUTSCHE BANK SECURITIES INC., GOLDMAN SACHS BANK USA, HSBC SECURITIES (USA) INC., INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH, LLOYDS SECURITIES INC., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, MORGAN STANLEY MUFG LOAN PARTNERS LLC, RBC CAPITAL MARKETS, SUMITOMO MITSUI BANKING CORPORATION,
as Bookrunners and Lead Arrangers

BANCO BRADESCO S.A., BANK OF AMERICA, N.A., BARCLAYS BANK PLC, BNP PARIBAS, CITIBANK, N.A., COMMERZ MARKETS LLC, CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, DEUTSCHE BANK SECURITIES INC., GOLDMAN SACHS BANK USA, HSBC SECURITIES (USA) INC., INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH, LLOYDS SECURITIES INC., MORGAN STANLEY MUFG LOAN PARTNERS LLC, ROYAL BANK OF CANADA, SUMITOMO MITSUI BANKING CORPORATION,
as Co-Syndication Agents

INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH
as RMB Syndication Agent

ELEVENTH AMENDMENT dated as of April 30, 2015 (this ?Amendment Agreement?) to the Credit Agreement dated as of December 15, 2006, as amended and restated as of November 24, 2009 and as further amended and restated as of April 30, 2014 (as further amended, supplemented or otherwise modified from time to time prior to the date hereof, the Existing Credit Agreement) among Ford Motor Company (the Company), the Subsidiary Borrowers (as defined in the Existing Credit Agreement) from time to time party thereto, the several lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent (the Administrative Agent), Banco Bradesco S.A., as Brazilian Administrative Agent (the ?Brazilian Administrative Agent), JPMorgan Chase Bank, N.A., acting through its Hong Kong Branch, as RMB Administrative Agent (the ?RMB Administrative Agent?), and the other agents parties thereto. Unless otherwise defined herein, terms defined in the Credit Agreement (as defined below) and used herein shall have the meanings given to them in the Credit Agreement.
ELEVENTH AMENDMENT-JPMorgan -Ford   NEW

2006- SUPPLEMENTARY CUSTODIAN AGREEMENT jpm Hong Kong bankS

SUPPLEMENTARY CUSTODIAN AGREEMENT  NEW
IN RESPECT OF QFII SERVICES

THIS AGREEMENT is made the 21st day of September Two Thousand and Six

BETWEEN

(1) THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, a company
incorporated in Hong Kong and having its principal place of business at
1 Queen's Road Central, Hong Kong (the "BANK");

(2) MORGAN STANLEY INVESTMENT MANAGEMENT INC., a company incorporated in
the State of Delaware and having its principal place of business at
1221 Avenue of the Americas, New York, New York 10020 ("MSIM" or the
"QFII APPLICANT");

(3) MORGAN STANLEY CHINA A SHARE FUND, INC., a corporation organized under
the laws of the State of Maryland (the "FUND"); and

(4) JPMORGAN CHASE BANK, N.A., a national banking association and having a
principal place of business at 1 Chase Manhattan Plaza, New York, New
York 10081 (the "GLOBAL CUSTODIAN").
https://www.sec.gov/Archives/edgar/data/1368493/000095013606008046/file7.htm

2007

 

2007- LONGLEAF PARTNERS FUNDS TRUST
(Exact name of registrant as specified in charter) c/o Southeastern Asset Management, Inc.

One of Longleaf’s “Governing Principles” is that “we will communicate with our investment partners as candidly as possible,” because we believe our shareholders

benefit from understanding our investment philosophy and approach. Our views and opinions regarding the investment prospects of our portfolio holdings and Funds are

“forward looking statements” which may or may not be accurate over the long term. ...

-s- O. Mason Hawkins, CFA           -s- G. Staley Cates, CFA
O. Mason Hawkins, CFA
Chairman & CEO
Southeastern Asset Management, Inc.           G. Staley Cates, CFA
President
Southeastern Asset Management, Inc.

3. . .

Partners Fund – PORTFOLIO SUMMARY
TABLE OF PORTFOLIO HOLDINGS
at September 30, 2007
                                                      
                        Net                            Assets    
                             
Common Stock                                        97.3     %
 Dell Inc.                9.8                             
 Liberty Media Holding Corporation – Capital                6.4                             
 
Level 3 Communications, Inc.                5.9                             
      
eBay, Inc.                5.5                             
      
Aon Corporation                5.4                             
      
Chesapeake Energy Corporation                5.2                             
      
Koninklijke Philips Electronics N.V.                5.0                             
      
Yum! Brands, Inc.                4.9                             
      
Sun Microsystems, Inc.                4.9                             
      
Cemex S.A.B. de C.V.                4.6                             
      
The NipponKoa Insurance Company, Ltd.                4.6                             
      
The DIRECTV Group, Inc.                4.6                             
      
The Walt Disney Corporation                4.4                             
      
Liberty Media Holding Corporation – Interactive                4.3                             
      
General Motors Corporation                4.3                             
      
Telephone and Data Systems, Inc.                3.8                             
      
FedEx Corporation                3.5                             
      
Pioneer Natural Resources Company                 3.3                             
      
Sprint Nextel Corporation                2.5                             
      
Comcast Corporation                1.9                             
      
Symantec Corporation                1.5                             
      
Discovery Holding Company                1.0                             
Cash Reserves                                        2.7     
Other Assets and Liabilities, net                       100.0     %
                                    
PORTFOLIO CHANGES
January 1, 2007 through September 30, 2007
            
New Holdings           Eliminations
            
Citadel Broadcasting Corporation
  (The Walt Disney Corporation)(a)
Sun Microsystems, Inc.           Cemex S.A.B. de C.V.(b)
Citadel Broadcasting Corporation
Level 3 Communications, Inc. 10%
  Convertible Senior Notes
  due 5-1-11(c)
Vivendi Universal, S.A.
    
(a)      Change due to corporate action (name of related holding)
(b)      Exchanged for ADS shares
(c)      Exchanged for Level 3 Common Stock

Read Full Document Here:  https://www.sec.gov/Archives/edgar/data/806636/000095014407010670/g09871e40v24b2.htm

DOW JONES & COMPANY AND NEWS CORPORATION
ENTER INTO DEFINITIVE MERGER AGREEMENT

Bancroft Family Members Holding Approximately 37% of Dow Jones Voting Power
Agree to Support the Transaction

NEW YORK (August 1, 2007) ( Dow Jones & Company (NYSE: DJ) and News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) announced today that they have signed a definitive merger agreement under which News Corporation will acquire Dow Jones in a transaction valued at approximately $5.6 billion.

Under the terms of the agreement, which was approved by both companies? boards of directors, Dow Jones stockholders will be entitled to receive $60 in cash for each share of common stock and Class B common stock that they own. Certain members of the Bancroft family and the trustees of trusts for their benefit who collectively own approximately 37% of Dow Jones voting stock have agreed to vote to approve the transaction. In addition, the parties       http://thespiritwithinpoetry.com/dow_jones__company_inc.html                

2007: J.P. Morgan Asset Management receives its license and business commences.(South Korea)
https://www.jpmorgan.co.kr/en/about-us

2007: J.P. Morgan opens office in the Dubai International Financial Centre.
https://www.jpmorgan.com/EG/en/about-us

2007: A United Voice
ABA merges with America?s Community Bankers, creating a unified voice in Washington representing banks of all sizes and charters as well as the vast majority of the banking industry?s total assets.
https://www.aba.com/about-us/our-story/aba-history/2000-present

JP MORGAN CHASE 2007  JPMorgan Chase & Co.  List of subsidiaries   

_______________________________________________________________________

NEW YORK (August 1, 2007) ( Dow Jones & Company (NYSE: DJ) and News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) announced today that they have signed a definitive merger agreement under which News Corporation will acquire Dow Jones in a transaction valued at approximately $5.6 billion.  

NOTE:  Goldman, Sachs & Co. served as financial advisor to Dow Jones and Fried, Frank, Harris, Shriver & Jacobson LLP provided legal counsel to Dow Jones. Simpson Thacher & Bartlett LLP provided legal counsel to the non-family members of Dow Jones? board of directors. Merrill Lynch & Co. acted as financial advisor to certain trusts for the benefit of the Bancroft family. Wachtell Lipton Rosen & Katz provided legal counsel to the Bancroft family. JPMorgan, Allen & Company and Centerview Partners served as financial advisors to News Corporation, and Skadden, Arps, Slate, Meagher & Flom LLP and Hogan & Hartson LLP provided legal counsel to News Corporation.  https://www.sec.gov/Archives/edgar/data/29924/000134100407002242/ex99-1.htm

___________________________________________________________

2007-The number of state banks increased from  246 [in 1815] to 21725 . The following is a list of all banks in the state of "All States" with ratings as listed.  http://apps.occ.gov/toolkit/crareslt.aspx     

2007- Bank of America acquires U.S. Trust      http://www.ustrust.com/ust/pages/about-us.aspx 

NOTE:   Bank of America, N.A. and U.S. Trust Company of Delaware (collectively the "Bank") do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank.  http://www.ustrust.com/ust/pages/about-us.aspx 
 
 2007 ? Clariden Leu Merger of the four independent Credit Suisse private banks, Clariden, Bank Leu, Bank Hofmann, and Banca di Gestione Patrimoniale to form Clariden Leu.  
 https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html                  

?Citigroup? means Citigroup Inc., a corporation duly organized and validly existing under the laws of the State of Delaware, United States.   [Bank of Chile]    

CITIGROUP INC. (1951350) acquires CITIGROUP JAPAN INVESTMENTS LLC (3609114) 2007-07-05 The acquired institution sold its assets to the acquiring institution.

--January 22, 2007 01:00 AM Eastern Standard Time
NEW YORK--(BUSINESS WIRE)--Citigroup announced today that it will acquire ABN AMRO Mortgage Group (AAMG), a national originator and servicer of prime residential mortgage loans. Citigroup will purchase approximately $9 billion in net assets and ABN AMRO Mortgage Group?s approximately $224 billion mortgage servicing portfolio. ABN AMRO Mortgage Group?s primary originations business is via wholesale lending under the InterFirst brand. ABN AMRO Mortgage Group is a subsidiary of LaSalle Bank Corporation and ABN AMRO Bank N.V. and is headquartered in Ann Arbor, Michigan. Terms of the transaction were not disclosed.

Citigroup, the leading global financial services company, has some 200 million customer accounts and does
business in more than 100 countries, providing consumers, corporations, governments and institutions with a
broad range of financial products and services, including consumer banking and credit, corporate and investment
banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com

 http://www.businesswire.com/news/home/20070121005082/en/Citigroup-Acquire-ABN-AMRO-Mortgage-Group#.VLPY7XTna00

MELLON INVESTMENTS CORPORATION   NEW

--2007: Bank of America acquires U.S. Trust http://www.ustrust.com/ust/pages/about-us.aspx

-Abu Dhabi Investment Authority invested $7.5 billion in Citigroup Inc. The fund, known as ADIA, agreed to buy the equivalent of 4.9 percent of Citigroup. A year later Citibank was bailed out at the cost of $45 billion to the American tax payers.

Olivant Advisors Ltd - Statement re Northern Rock  [see 2008 Kirk Stephenson]

Keith Gores  Banking executive ,vice president at Marshall & Ilsley Bank  

WHEELING PITTSBURGH CORPORATION AND ESMARK   MERGE

2008

December 8, 2008-Morgan Stanley M&A head MacDonald dead at 47. Gavin MacDonald, the head of mergers and acquisitions at Morgan Stanley MS.N, has died. He was 47.

MacDonald died on Friday evening, after suffering a heart attack at Morgan Stanley’s offices in Canary Wharf, London, earlier last week, Morgan Stanley spokesman Michael Wang said.

A founding member of Morgan Stanley’s European M&A team, MacDonald had worked on a string of multi-billion dollar deals, and became global head of M&A in 2007 -- the first London-based banker to hold that role for the Wall Street firm. https://www.reuters.com/article/morganstanley-macdonald/morgan-stanley-ma-head-macdonald-dead-at-47-idUSL870398120081208

 

http://thespiritwithinpoetry.com/citibanks_graveyard.html        new

2008: J.P. Morgan Securities obtains the Equity Derivatives OTC license.(South Korea)
https://www.jpmorgan.co.kr/en/about-us

 Merrill Lynch was formed in 1914 and became a publicly traded company on June 23, 1971. In 1973, we created the holding company, ML & Co., a Delaware corporation that, through its subsidiaries, is one of the world’s leading capital markets, advisory and wealth management companies with offices in 40 countries and territories. In our Global Wealth Management (“GWM”) business, we had total client assets in GWM accounts of approximately $1.2 trillion at December 26, 2008. As an investment bank, we are a leading global trader and underwriter of securities and derivatives across a broad range of asset classes, and we serve as a strategic advisor to corporations, governments, institutions and individuals worldwide. In addition, as of December 26, 2008, we owned approximately half of the economic interest of BlackRock, Inc. (“BlackRock”), one of the world’s largest publicly traded investment management companies with approximately $1.3 trillion in assets under management at the end of 2008.
 
On September 15, 2008, we entered into an Agreement and Plan of Merger, as amended by Amendment No. 1 dated as of October 21, 2008 (the “Merger Agreement”) with Bank of America Corporation (“Bank of America”). Pursuant to the Merger Agreement, on January 1, 2009, a wholly-owned subsidiary of Bank of America (“Merger Sub”) merged with and into ML & Co., with ML & Co. continuing as the surviving corporation and a subsidiary of Bank of America (the “Merger”).
 
Our activities are conducted through two business segments: Global Markets and Investment Banking (“GMI”) and GWM. In addition, we provide a variety of research services on a global basis. https://www.sec.gov/Archives/edgar/data/65100/000095012309003322/y74695e10vk.htm 

2008-12-20 HSBC BANK USA, NATIONAL ASSOCIATION moved to 1800 TYSONS BOULEVARD, SUITE 50 MCLEAN, VA. http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231 

2008: The Onset of the Great Recession
Major upheaval hits the financial sector, causing the biggest stock market declines and widespread economic damage since the Great Depression. The Federal Reserve and the Treasury Department engineer financial rescues for several nonbank financial companies implicated in the housing bust?Bear Stearns and Merrill Lynch are sold with federal assists, AIG receives a bailout and Fannie Mae and Freddie Mac are nationalized, with their liabilities assumed by taxpayers. The biggest upheaval follows the failure of investment bank Lehman Brothers in September, which causes a major credit crunch and runs even on safe assets such as money market funds. Washington Mutual collapses and becomes the nation?s largest-ever bank failure. Congress approves a $700 billion rescue package for the financial sector, and the Treasury forces even healthy banks to take the Troubled Asset Relief Program funds to help boost confidence in the banking sector, which will by 2014 net taxpayers a $29.5 billion profit.
https://www.aba.com/about-us/our-story/aba-history/2000-present

Bailed out banks

2008-The Federal Reserve Bank of New York?s $30 billion special financing associated with the transaction has also been amended so that JPMorgan Chase will bear the first $1 billion of any losses associated with the Bear Stearns assets being financed and the Fed will fund the remaining $29 billion on a non-recourse basis to JPMorgan Chase. https://www.sec.gov/Archives/edgar/data/19617/000089882208000320/pressrelease.htm  

NEW  JP Morgan leases Quarry Bay space
Yvonne Liu
Published: 12:00am, 8 Jan, 2008

Jan 8, 2008 · United States investment bank JP Morgan has rented 11 floors at One Island East in Quarry Bay and plans to hire more staff in Hong Kong as ...
Why you can trust SCMP
https://www.scmp.com/article/622102/jp-morgan-leases-quarry-bay-space

 

THE BEAR STEARNS COMPANIES INC.

Citigroup, Merrill Receive $21 Billion From Investors (Update3)

By Yalman Onaran - January 15, 2008 16:11 EST

Jan. 15 (Bloomberg) -- Citigroup Inc. and Merrill Lynch & Co., two of the largest financial institutions in the U.S., turned to outside investors for a second time in two months to replenish capital eroded by subprime-mortgage losses.

Citigroup, the biggest U.S. bank, is getting $14.5 billion from investors including the governments of Singapore and Kuwait, former Chairman Sanford Weill and Saudi Prince Alwaleed bin Talal, the New York-based company said today in a statement. Merrill, the largest brokerage, will receive $6.6 billion from a group led by Tokyo-based Mizuho Financial Group Inc., the Kuwait Investment Authority and the Korean Investment Corp.

Wall Street banks have raised $59 billion, mostly from investors in the Middle East and Asia, to shore up balance sheets battered by more than $100 billion of writedowns from the declining values of mortgage-related assets. Citigroup was propped up in November by a $7.5 billion investment from the Abu Dhabi Investment Authority . New York-based Merrill was helped by a $5.6 billion cash infusion last month from Singapore's Temasek Holdings Pte. and U.S. fund manager Davis Selected Advisors LP.

``The only reason the banks are raising capital from the Middle East and Asia is because those are the only people who have the excess capital to lend,'' said Jon Fisher, who helps oversee $22 billion at Minneapolis-based Fifth Third Asset Management, which holds shares of Citigroup and Merrill. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anjGWhqi0PSE

In 2008, JPMorgan Chase & Co. acquired The Bear Stearns Companies Inc., strengthening its capabilities across a broad range of businesses, including prime brokerage, cash clearing and energy trading globally.
Also in 2008, JPMorgan Chase & Co. acquired the deposits, assets and certain liabilities of Washington Mutual's banking operations. This acquisition expanded Chase's consumer branch network into California, Florida and Washington State and created the nation's second-largest branch network ? with locations reaching 42% of the U.S. population.
http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

On September 25, 2008, JPMorgan Chase acquired the banking operations of Washington Mutual Bank.

On May 30, 2008, the Bear Stearns merger was consummated. Each of these transactions was accounted for as a purchase and their respective results of operations are included in the Firm?s results from each respective transaction date. For additional information on these transactions, see Note 2 on pages 123-128.
https://www.sec.gov/Archives/edgar/data/19617/000095012309003840/y74757e10vk.htm  
 

2008: J.P. Morgan plays an important role in helping manage the credit crisis through the acquisition of Bear Stearns. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

2008: J.P. Morgan plays an important role in helping manage the credit crisis through the acquisition of Bear Stearns. https://www.jpmorgan.com/GB/en/about-us

AGREEMENT AND PLAN OF MERGER      [by and among
COUNTRYWIDE FINANCIAL CORPORATION, BANK OF AMERICA CORPORATION
and RED OAK MERGER CORPORATION
 

  http://www.sec.gov/divisions/investment/noaction/2008/russellinvestmentco102008.pdf      [see 2014 death  Mike Dueker]

 JPMorgan Chase & Co. acquires The Bear Stearns Companies Inc., strengthening its capabilities across a broad range of businesses, including prime brokerage, cash clearing and energy trading globally.   https://www.jpmorgan.com/pages/company-history

-ProLogis to Participate in Citigroup's 2008 Global Property CEO Conference.

-Citibank was bailed out at the cost of $45 billion to the American tax payers.

-On September 21, 2008, Goldman Sachs and Morgan Stanley, the last two major investment banks in the United States, both confirmed that they would become traditional bank holding companies, bringing an end to the era of investment banking on Wall Street.The Federal Reserve's approval of their bid to become banks ended the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and capped weeks of chaos that sent Lehman Brothers into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.

--- This action arises out of improper accounting  practices at The BISYS Group, Inc.

 NEWOn September 25, 2008, JPMorgan Chase acquired the banking operations of Washington Mutual Bank.  On September 25, 2008, Washington Mutual Bank was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation was named receiver. Subsequent to the closure, JPMorgan Chase acquired the assets and most of the liabilities, including covered bonds and other secured debt, of Washington Mutual Bank from the FDIC as Receiver for Washington Mutual Bank. Any claims by equity, subordinated and senior unsecured debt holders were not acquired.

There was no publicly-owned stock in Washington Mutual Bank. If you are an equity shareholder, your shares are in Washington Mutual, Inc., the holding company for Washington Mutual Bank, and not the Bank. Washington Mutual, Inc., and the interests of equity, debt holders or other creditors of Washington Mutual, Inc., are not included in the closure or receivership of the Bank. Washington Mutual, Inc. filed for bankruptcy protection on Friday, September 26th. Please contact Washington Mutual, Inc. directly for information about this bankruptcy proceeding.

If you hold senior unsecured debt or subordinated debt, your claim with the Receiver has already been registered by virtue of bond ownership and there is no need for you to make an additional claim. If the ownership of the bond changes, the claim against the Receiver will follow the ownership of the bond. Please note that under federal law, 12 U.S.C. ? 1821(d)(11), claims by subordinated debt holders are paid only after all claims by general creditors of the institution. At this time, the FDIC as Receiver for Washington Mutual Bank does not anticipate that subordinated debt holders of the bank will receive any recovery on their claims.

Other claims against Washington Mutual Bank, together with proof of the claims, must be submitted in writing to the Receiver at the following address:

FDIC as Receiver of Washington Mutual Bank
1601 Bryan Street, Suite 1410
Dallas, TX 75201-3479
Attention: Claims Agent

(888) 206-4662
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu.html#possible_claims 


On May 30, 2008, the Bear Stearns merger was consummated. Each of these transactions was accounted for as a purchase and their respective results of operations are included in the Firm?s results from each respective transaction date. For additional information on these transactions, see Note 2 on pages 123-128.
https://www.sec.gov/Archives/edgar/data/19617/000095012309003840/y74757e10vk.htm   
 

JPMORGAN CHASE ACQUIRES THE DEPOSITS, ASSETS AND CERTAIN   ASSETS AND CERTAIN

LIABILITIES OF WASHINGTON MUTUAL?S BANKING OPERATIONS  

JPMORGAN  acquisition of Washington Mutual

Kirk Stephenson   millionaire financier ;  chief operating officer of   Olivant Advisers . 2.5 per cent stake in Swiss banking giant UBS (Swiss Bank Corporation). There has been persistent speculation in the financial world that UBS has written off billions after being exposed to the US mortgage market.

Christen Schnor    top  HSBC banker  (The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China)

Thierry Magon de la Villehuchet   the former CEO of Credit Lyonnais Securities    .(The company Access International Advisors and Marketers (AIA Group) was co-founded in 1994 by French bankers, yachtsman Ren?-Thierry Magon de la Villehuchet and Patrick Littaye. Philippe Junot, the first husband of Princess Caroline of Monaco, was a partner of the company.)

Barry Fox  Bear Stearns manager

2008 - 2008 LIST OF SUBSIDIARIES OF JPMORGAN CHASE & CO    NEW


NEW18 November 2008
THE EXECUTIVE BOARD CONFIDENTIAL
VULNERABILITIES IN THE CENTRAL AND EASTERN EUROPEAN MEMBER
STATES
On 20 October 2008 the Governing Council adopted a policy position with regard to the Eurosystem?s
provision of liquidity assistance to non-euro area EU countries. Given the increasing requests for such
assistance, there is a need to assess to which extent Central and Eastern European EU Member States
(hereafter CEE countries) are vulnerable to a potential dry-out of capital inflows.
A potential ?sudden
stop? in capital flows would have a substantial impact on the CEE economies, given their dependence on
external financing and, in some cases, large external indebtedness. In some countries, risks also stem from
an already ongoing and strong macroeconomic and asset price correction that is starting to put pressure on
their banking systems. The vulnerability of the countries depends in many cases on the extent to which
foreign parent bank funding will help to ensure continued access to liquidity in case of a ?sudden stop? in
other capital inflows. As a share of GDP, funding needs are particularly high in Latvia. Vulnerabilities not
only stem from large current account deficits, but also from high degrees of external indebtedness
). Moreover, countries with large shares of
debt denominated in foreign currency, particularly the , may also be
relatively vulnerable to a ?sudden stop. In case of an actual ?sudden stop?, the external financing need
will have to be met by some combination of domestic adjustment, private external financing and official
support.
It concludes that through the strategy of pegging and the de facto euroisation the Baltics
have created a very difficult situation in which no ideal policy option exists. At this stage, the preferred
option seems to be to maintain the current monetary policy framework for now. However, the current
system can only be successfully pursued if it is further supported with concrete, credible and very
ambitious policy commitments that speed up the necessary domestic adjustment. The ECB?s policy line
has always been that currency board or unilateral pegs by third countries are not backed in any way by
policy commitments from the ECB.
The Governing Council is invited to exchange views on these notes. ECB-PUBLIC
https://www.ecb.europa.eu/ecb/access_to_documents/document/pa_document/shared/data/ecb.dr.par2021_0002_EB_proposal_Vulnerabilities_Central_Eastern_European18102008.en.pdf?5e6d56dcbce2985e960b7adcdd3ab021

2009

NEW   Citi sells Smith Barney, old Philly name; seeks subprime exit: UPDATE
Citigroup is turning its Smith Barney brokerage (which traces its roots to Philadelpia) over to its rivals at Morgan Stanley and may sell its subprime-lending arm, Citifinanciall, too.

by Joseph N. DiStefano
Published Jan 13, 2009
It's official: Citigroup is turning control and majority ownership of its Smith Barney brokerage over to rival Morgan Stanley for $2.7 billion. Statement here.

Citi's also looking to unload founder Sandy Weill's old Citifinancial stores, which lend money to poor people at high rates of interest (the one in PhillyDeals' neighborhood recently closed, which may be a good sign, or a very alarming one.) CEO Vikram Pandit "is unraveling his empire to save his bank" says Bloomberg News here. (Link updated)

Smith Barney is an old Philadelphia name. How do we figure? Writes Charlie Godwin, svp at Farr Miller & Washington's Wayne office, who ran Smith Barney's Washington DC branch in the 1980s:
:
"Smith Barney traces its origins back to Philadelphia where Jay Cooke (created the bond sales force) to help finance the Union cause in the Civil War. They were primarily an institutional firm unitl the 1976 merger with Harris Upham. It was a fine, high quality firm with wonderful roots right here.

" In the early '80s they made a brilliant move and had John Houseman do their TV ads. Jerry Tsai bought the firm in the late '80s and ultimately sold to Weill, who kept the name as he made multiple acquisitions.

"It had a great name and history until they put it on steriods."

https://www.inquirer.com/philly/blogs/inq-phillydeals/Citi_sells_Smith_Barney_old_Philly_name_seeks_subprime_exit.html

NEW Saying Goodbye to Smith Barney
Joshua Brown
Joshua BrownContributor
Investing
I cover markets, media, technology, investing and economics

This article is more than 8 years old.

As part of my research for my book, Backstage Wall Street, I delved deep into the history and folklore of Wall Street. I learned all sorts of amazing things about the financial institutions that have shaped the way America has lived and carried on business these past few hundred years. Of all the firms I read about and researched, almost none were quite as storied and embedded in the firmament as was Smith Barney, a brand that has just been buried today with the below press release from Morgan Stanley, its pallbearer:

Morgan Stanley (NYSE: MS) today announced that its U.S. wealth management business, Morgan Stanley Smith Barney, has been renamed Morgan Stanley Wealth Management (MSWM).

Morgan Stanley Wealth Management is an industry leader, managing $1.7 trillion in client assets through a network of 17,000 representatives in 740 locations. Morgan Stanley on September 11 announced an agreement with Citigroup to increase its majority ownership of MSWM such that Morgan Stanley will assume full control by June of 2015, subject to regulatory approval. The business was formed in 2009 as a joint venture between Morgan Stanley and Citi?s Smith Barney.

?Today, as we move under one name, we are culminating a three-year effort to integrate two outstanding franchises,? said James Gorman, Chairman and Chief Executive Officer of Morgan Stanley. ?The Smith Barney name stood for investment excellence for three-quarters of a century, and Morgan Stanley Wealth Management will provide the first-class service that has distinguished Morgan Stanley as a firm for more than 75 years. Going forward, we remain focused on being the worlds premier wealth management group.

Before we shovel the dirt on, however, let's take a moment to reflect on the name that will now be lost to history...

The first person you should be aware of is the legendary financier Jay Cooke, a treasury bond salesman whose efforts helped fund the Union army during the civil war. Cooke eventually went broke through excess speculation (sound familiar?) and this actually caused the major Panic of 1873. But Cooke had a nephew named Charles Barney who would set up his own eponymous brokerage at the end of that year, in Philadelphia of all places - decades before Morimoto or Budokan would open their restaurant doors in that heathen outpost of a town. Anyway, 20 years later another Philadelphian financier, Edward Smith, would found an investment bank across town.

One of Barney's daughters marries a man named J. Horace Harding who eventually takes the chairmanship from his father-in-law and the company's begins an ambitious growth phase. At the same time, Edward Smith consolidates power around his firm's corporate relationships - he serves on the board of more than 40 large companies and is ostensibly in business with all of them.

Over the next 30 years the two firms grew quickly and expanded, first into New York via seat purchases on the NYSE and later into the midwest as several high profile competitor firms went bust and divested themselves to Barney & Co and to Smith's firm. Then the Depression hits and Edward Smith & Co falls on tough times. The company has a cash crunch in 1937 and it merges with Barney's brokerage firm. The combined firm, Smith, Barney & Co will have over 700 employees and it will turn its back on dealings with the general public in favor of a more institutional and high net worth focus.

Smith Barney logo with its common tagline "They make money the old-fashioned way. They earn it"... [+]
Charles Barney's grandson, Charles Barney Harding comes in and takes control in the 1940's. The company will spend much of the 50's and 60's doing private placements, large-scale corporate M&A and underwriting business. In the 1970's Smith Barney discovers it has a talent for both asset management and funds along with retail brokerage. By 1979 the TV commercials begin ("They make money the old fashioned way - they earn it") and Smith Barney develops into a true bulge bracket firm with all the boxes checked off.

The 1980's and 1990's will bring plenty of tumult in terms of ownership, as Arabian princes, Primerica, Shearson and others will bat the company around like kittens in a box with a ball of string. Ultimately, Smith Barney becomes a wholly-owned subsidiary of Sandy Weill's Citigroup-Travelers Frankenstein and then sold off in pieces beginning with a Financial Crisis-driven joint venture with Morgan Stanley in 2008. Citi needed cash and Morgan needed to be seen doing something opportunistic and aggressive, from that standpoint it worked out.

But the painful process of integration has been a nightmare. Brokers are streaming out the door or talking anonymously with reporters about technology glitches, personnel disruptions and management shakeups in a way they'd never been so willing to before.

And so the jury is definitely still out on the whole thing. But the death of the Smith Barney name certainly deserved some attention and a salute. So I obliged.
https://www.forbes.com/sites/joshuabrown/2012/09/25/saying-goodbye-to-smith-barney/?sh=4dd17515d199


 

 

 

Alan Grayson on the Worst Deal Since Manhattan Was Sold for $24 in Trinkets
143,968 views?Feb 11, 2009

Alan Grayson
13K subscribers

This hearing took place on 2/11/09, featuring eight major Wall Street bank CEOs as witnesses. Rep. Alan Grayson asked Citigroup CEO
Vikram Pandit about the terms of the government assistance his firm received, and read comments from several angry constituents.

Note:
Saying Goodbye to former Citigroup head Vikram Pandit
21 Oct, 2012, 07.55 PM IST
Wasn?t he a retail bank guy? How did he go out of the fondue and into the fire? A CEOs anonymous meeting talks about the former Citigroup head.

Citi ousted Vikram Pandit for poor execution?
17 Oct, 2012, 05.25 AM IST
Citigroup Inc directors ousted CEO Vikram Pandit after concluding that he had mismanaged operations , leading to setbacks with regulators and a loss of credibility with investors.

Vikram Pandit steps down as CEO of Citigroup, Michael Corbat to replace him
16 Oct, 2012, 07.28 PM IST
Michael Corbat, previously chief executive for Europe, Middle East and Africa, was named to replace Pandit. The COO of the group has also resigned.
https://economictimes.indiatimes.com/topic/Citigroup-CEO-Vikram-Pandit/news

 

Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."
893,004 views?Jul 21, 2009


This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or 'central liquidity swaps' in Federal Reserve-ese').

Which financial institutions received this money? Bernanke's answer: I don't know.

As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes.

 

 2009-Notes to consolidated financial statements
Note 30 ? Capital
The Federal Reserve establishes capital requirements, including well-capitalized standards for the consolidated financial holding company. The OCC establishes similar capital requirements and standards for the Firm?s national banks, including JPMorgan Chase Bank, N.A., and Chase Bank USA, N.A.
There are two categories of risk-based capital: Tier 1 capital and Tier 2 capital. Tier 1 capital includes common stockholders? equity, qualifying preferred stock and minority interest less goodwill and other adjustments. Tier 2 capital consists of preferred stock not qualifying as Tier 1, subordinated long-term debt and other instruments qualifying as Tier 2, and the aggregate allowance for credit losses up to a certain percentage of risk-weighted assets. Total regulatory capital is subject to deductions for investments in certain subsidiaries. Under the risk-based capital guidelines of the Federal Reserve, JPMorgan Chase is required to maintain minimum ratios of Tier 1 and Total (Tier 1 plus Tier 2) capital to risk-weighted assets, as well as minimum leverage ratios (which are defined as Tier 1 capital to average adjusted on-balance sheet assets). Failure to
meet these minimum requirements could cause the Federal Reserve to take action. Banking subsidiaries also are subject to these capital
requirements by their respective primary regulators. As of December 31, 2008 and 2007, JPMorgan Chase and all of its banking subsidiaries were well-capitalized and met all capital requirements to which each was subject.
The Federal Reserve granted the Firm, for a period of 18 months following the Bear Stearns merger, relief up to a certain specified amount and subject to certain conditions from the Federal Reserve?s risk-based capital and leverage requirements
with respect to Bear Stearns? risk-weighted assets and other exposures acquired. The amount of such relief is subject to reduction by one-sixth each quarter subsequent to the merger and expires on October 1, 2009. The OCC granted JPMorgan Chase Bank, N.A. similar relief from its risk-based capital and leverage requirements. ...
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned, thereunto duly authorized.

JPMorgan Chase & Co.
(Registrant)

By: /s/ JAMES DIMON


(James Dimon
Chairman and Chief Executive Officer)

Date: March 2, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacity and on the date indicated. JPMorgan Chase does not exercise the power of attorney to sign on behalf of any Director.

Capacity Date

/s/ JAMES DIMON
Director, Chairman and Chief Executive Officer
(James Dimon)
(Principal Executive Officer)

/s/ CRANDALL C. BOWLES
(Crandall C. Bowles)
Director March 2, 2009

/s/ STEPHEN B. BURKE
(Stephen B. Burke)
Director

/s/ DAVID M. COTE
(David M. Cote)
Director

/s/ JAMES S. CROWN
(James S. Crown)
Director

/s/ ELLEN V. FUTTER
(Ellen V. Futter)
Director

236


https://www.sec.gov/Archives/edgar/data/19617/000095012309003840/y74757e10vk.htm

list of the central banks of the world

Uploaded on Jul 21, 2009[above video]

This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or 'central liquidity swaps' in Federal Reserve-ese').

Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."

Which financial institutions received this money? Bernanke's answer: I don't know.

As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes

 

Senator Sanders asks Bernanke WHERE IS THE MONEY

-----Goldman Sachs Group Inc (GS.N) media sector banker Joseph Ravitch is leaving the company. Ravitch  was a driving force behind a number of media deals, including the creation of the YES television network, the formation of the NBA China joint partnership, and the sale of the New Jersey Nets and Seattle Supersonics basketball clubs http://www.reuters.com/article/2009/03/06/ravitch-goldmansachs-idUSBNG48923120090306

ADIA, which doesn't give the value of its assets, filed a complaint against Citigroup in 2009, saying it made  fraudulent misrepresentations about the deal.

-The acquisition was completed in January 2009 and Merrill Lynch & Co., Inc. was merged into Bank of America Corporation, although certain Bank of America subsidiaries continue to carry the Merrill Lynch name, including the broker-dealer Merrill Lynch, Pierce, Fenner & Smith. Bank of America also takes over Merrill's nearly 50 percent stake in the powerful money manager BlackRock Inc (BLK.N).

-----------------------------------------------------

On December 1, 2009, we completed our previously announced acquisition of Barclays Global Investors (?BGI?), one of the world?s largest asset managers and a leading global provider of investment management products and services. As a result of the acquisition of BGI, including its market-leading exchange traded fund platform iShares, we have become a more diversified and fully integrated asset management firm with assets under management of approximately $3.2 trillion.

In exchange for BGI, we issued 37,566,771 shares of our common stock, Series B Convertible Participating Preferred Stock (?Series B Preferred Stock?) and Series D Participating Preferred Stock (?Series D Preferred Stock?) to a wholly-owned subsidiary of Barclays Bank PLC (?Barclays Bank?) and paid approximately $6.65 billion in cash to Barclays Bank. Under the Certificate of Designations of the Series D Preferred Stock, the shares of Series D Preferred Stock will convert automatically into shares of Series B Preferred Stock on January 31, 2010, which is the date that is 20 days after the first mailing of the accompanying Information Statement to the holders of our common stock. The issuance of shares of Series B Preferred Stock upon conversion of the shares of Series D Preferred Stock issued to the wholly-owned subsidiary of Barclays Bank (the ?Barclays Stock Issuance?) requires stockholder approval under the rules of the New York Stock Exchange (?NYSE?) because we will have issued common stock and securities convertible into common stock to Barclays Bank?s wholly-owned subsidiary equal to or in excess of 20% of our voting power outstanding before such issuance. Although the shares of Series B Preferred Stock will not be convertible into shares of common stock while held by Barclays Bank and its affiliates, such shares are deemed to be securities convertible into common stock for purposes of NYSE rules.

To facilitate our acquisition of BGI, on June 11, 2009, we entered into stock purchase agreements with several investors, including The PNC Financial Services Group, Inc. (PNC). In its stock purchase agreement, PNC agreed to purchase 3,556,188 shares of our Series D Preferred Stock at a price of $140.60 per share. The closing of the sale of the Series D Preferred Stock to PNC occurred simultaneously with the closing of the BGI acquisition. The issuance of the shares of Series B Preferred Stock upon conversion of the shares of Series D Preferred Stock issued to PNC (the ?PNC Stock Issuance? and together with the Barclays Stock Issuance, the Stock Issuances) requires stockholder approval under NYSE rules because PNC is a substantial security holder of BlackRock under NYSE rules and we will have issued securities convertible into common stock to PNC in excess of one percent of our voting power outstanding before such issuance. Although the shares of Series B Preferred Stock will not be convertible into shares of common stock while held by PNC and its affiliates, such shares are deemed to be securities convertible into common stock for purposes of NYSE rules.https://www.sec.gov/Archives/edgar/data/1364742/000134100410000059/def14c.htm
 

L Sunil Shankar Goud   assistant manager of HSBC Bank

Anjool Malde  Banker (Deutsche Bank) internships at the City solicitors Slaughter-and May and the finance house ABN Amro.

Huibert Gerald Boumeester  Banker (ABN)

Michael Marin           

Foreign Pack Circled and Devoured Esmark

2010

NEW SOUTHERN DISTRICT OF NEW YORK
Plaintiff, the United States Securities and
I. The Commission brings this securities fraud action against Goldman, Sachs & Co.
("GS&Co") and a GS&C6 employee, Fabrice Tourre ("Tourre"), for making materially
misleading statements and omissions in connection with a synthetic collateralized debt obligation
("CDO") GS&Co structured and marketed to investors. This synthetic CDO, ABACUS 2007ACI,
was tied to the performance of subprime residential mortgage-backed securities ("RMBS")
and was structured and marketed by GS&Co in early 2007 when the United States housing
market and related securities were beginning to show signs of distress. Synthetic CDOs like
ABACUS 2007-ACI contributed to the recent financial crisis by magnifying losses associated
with the downturn in the United States housing market.
http://www.sec.gov/litigation/complaints/2010/comp21489.pdf

fraud_action_against_goldman.html        NEW

NEW  AMENDMENT AGREEMENT, dated as of August 17, 2010 (the Amendment), to the PURCHASE CONTRACT dated as of February 12, 1996, as amended on February 11, 1999 and July 12, 2007 (the Purchase Contract), between THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (the Trustee), a limited purpose national banking association with trust powers, in its capacity as successor trustee of the Rio Grande Resources Trust II, (the Trust) (said Trustee being the successor by merger to JPMorgan Chase Bank, National Association, formerly known as JPMorgan Chase Bank, successor by merger to The Chase Manhattan Bank, successor by merger to Chase Bank of Texas, National Association, successor by change of name to Texas Commerce Bank National Association, as trustee of the Rio Grande Resources Trust II) and EL PASO ELECTRIC COMPANY, a Texas corporation (El Paso).  THIRD AMENDMENT TO THE PURCHASE CONTRACT

2010: J.P. Morgan Futures merges with J.P. Morgan Securities Seoul Branch to establish J.P. Morgan Metals.(South Korea)
https://www.jpmorgan.co.kr/en/about-us

We have been doing business in Bangladesh since the birth of the country in 1971. The representative office was formally set up in Dhaka in 2010 to offer clients access to the firm’s extensive suite of global treasury solutions, including cash management, trade and liquidity products and services.

We have operated in Asia Pacific since 1872, and today are present across 17 markets in the region. Clients rely on our global strength, local expertise and leadership across our lines of business.

In Asia Pacific, we are committed to helping promote economic growth and economic inclusion through our key philanthropic initiatives in the areas of workforce readiness, small business development and financial capability. Our investments aim to increase the number of quality jobs created for the underserved individuals and communities, helping small businesses become more sustainable, as well as assisting marginalized people in gaining access to affordable financial products so that they can become more financially secure. This shared commitment to the community drives our Foundation’s giving and employee engagement and volunteering activities across the region.

J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.              https://www.jpmorgan.com/BD/en/about-us 

2010: J.P. Morgan opens office in Abu Dhabi.
https://www.jpmorgan.com/EG/en/about-us

2010: Dodd-Frank
President Barack Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is the most sweeping overhaul of financial policy and the architecture of banking since the Great Depression. Although ABA supports some provisions and successfully sought improvements, it remains opposed to the overall bill, which unnecessarily targets banks with new layers of regulation unrelated to the financial crisis. Dodd-Frank gives regulators authority to wind down failing systemically significant firms, abolishes the Office of Thrift Supervision and transfers its powers to the Comptroller of the Currency, creates a Consumer Finance Protection Bureau to make rules and supervise large firms and caps the debit ?interchange? fees banks charge retailers to use the payments system.  https://www.aba.com/about-us/our-story/aba-history/2000-present

NEW Citi restructures US consumer finance business
June 1, 2010

NEW YORK Citigroup Inc. is closing 330 branches of its U.S. consumer finance business as part of a restructuring aimed at finding a buyer for the unit, the bank said Tuesday.

The branch closures at CitiFinancial will result in about 500 to 600 job cuts across 48 states, the bank said.

The U.S. business of CitiFinancial will also be split into two parts, one offering personal, home equity and refinancing loans and the other handling loan modifications and restructuring, Citigroup said.

CitiFinancial will be renamed after the reorganization is complete.

The restructuring "will provide a lot of clarity" into CitiFinancial's operations for potential buyers of the business, CitiFinancial CEO Mary McDowell said in an interview.

Citigroup split itself into two parts last year -- Citicorp and Citi Holdings, the division holding noncore, riskier assets including the mortgage-backed securities that undermined the bank and other financial institutions. CitiFinancial is a part of Citi Holdings.

Citigroup CEO Vikram Pandit said earlier this year that the bank would continue selling off Citi Holdings, which had $547 billion worth of assets at the end of 2009.

Citigroup received $45 billion in government bailout money at the height of the financial crisis. It raised $20 billion in December to help repay the money it received as part of the Troubled Asset Relief Program. The remaining $25 billion was converted to stock last fall, giving the government what is now a 22 percent ownership stake.

(This version CORRECTS Corrects size of government stake in last graf.)

http://archive.boston.com/business/articles/2010/06/01/citi_restructures_us_consumer_finance_business/

             

https://www.sec.gov/Archives/edgar/data/884713/000119312510199592/dex31liii.htm

ASIAN INFRASTRUCTURE INVESTMENT BANK

The above are not recognized by the American people....Take your business elsewhere......Americans are not ruled by a king OR a queen.... jt

 

Transamerica Partners  2010

 

Rep. Alan Grayson: You Own the Red Roof Inn, Thanks to the Fed
193,438 views

 

May 6, 2010        

Rep. Alan Grayson: $12 Trillion Gone and No One Punished
253,885 views?Feb 10, 2010

http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf   This Act may be cited as the  Dodd-Frank
Wall Street Reform and Consumer Protection Act.

NATIONAL EXPORT INITIATIVE

J.P. Morgan Cazenove becomes a wholly-owned part of J.P. Morgan, having originally operated as a joint venture between J.P. Morgan and the U.K. investment bank Cazenove.     https://www.jpmorgan.com/pages/company-history

 

(above video) Bill Murphy, Chairman of the Gold Anti-Trust Action Committee delivers his testimony about a whistle-blower in the gold price suppression scheme to the Commodity Futures Trading Commission on 3/25/10
 

-- On 6 February 2010 ABN AMRO Bank N.V. (registered with the Dutch Chamber of Commerce under number 33002587) changed its name to The Royal Bank of Scotland N.V. and on 1 April 2010 ABN AMRO Holding N.V. changed its name toRBS Holdings N.V. and all references in the attached document to "ABN AMRO Bank N.V." should be read as references to "The Royal Bank of Scotland N.V." and all references to ?ABN AMRO Holding N.V.?, should be read as references to ?RBS Holdings N.V.?.

These name changes are not changes to either the legal entity which issued your securities or the guarantor of them and they do not affect any of the terms and conditions of your securities. For further information on The Royal Bank of Scotland N.V. or RBS Holdings N.V., and their financial status please refer to the current Registration Document for RBS Holdings N.V. and The Royal Bank of Scotland N.V., which is available at
http://markets.rbs.com/bparchive/  and to the documents on file at http://www.sec.gov .

Since 6 February 2010 the name ABN AMRO Bank N.V. has been used by a separate legal entity (registered with the Dutch Chamber of Commerce under number 34334259), this entity became wholly owned by the State of the Netherlands on 1 April 2010.

Neither the new entity named ABN AMRO Bank N.V. nor the State of the Netherlands will, in any way, guarantee or otherwise support the obligations under your securities, issued by The Royal Bank of Scotland N.V. (formerly ABN AMRO Bank N.V.),registered with the Dutch Chamber of Commerce under number 33002587.

--Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on July 21, 2010 by President Barack Obama. The legislation set out to reshape the U.S. regulatory system in a number of areas including but not limited to consumer protection, trading restrictions, credit ratings, regulation of financial products, corporate governance and disclosure, and transparency. The full text of the Act is available at: http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf.  (Please check the Classification Tables maintained by the US House of Representatives Office of the Law Revision Counsel for updates to any of the laws.) You can find links to all Commission rulemaking and reports issued under the Dodd Frank Act at: http://www.sec.gov/spotlight/dodd-frank.shtml.

--On 1 July 2010 the legal merger between ABN AMRO Bank N.V. (ABN AMRO Bank) and Fortis Bank (Nederland) N.V. (Fortis Bank Nederland) was completed, creating a combined entity called ABN AMRO Bank N.V.  http://www.abnamro.com/en/about-abn-amro/history/index.html

--In 2010, J.P. Morgan acquired full ownership of its U.K. joint venture, J.P. Morgan Cazenove, one of Britain's premier investment banks. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history  

fraud action against Goldman, Sachs & Co.

James Patrick (Pat) Rothstein a bond trader who held top jobs at Merrill Lynch, Bear Stearns and UBS

Neil Mccormick   head of Asia Equity derivatives at UBS

Jessica Fashano   Investment Banking Associate at Citi Group.

 David Widlak Chief Financial Officer Community Central Bank Corp.-Widlak, a licensed attorney, also served as an arbitrator for the American Arbitration Association. NEW updated

Shele Danishefsky Covlin  UBS exec  NEW

2011

NEW On Friday, April 29, 2011, Community Central Bank was closed by the Michigan Office of Financial and Insurance Regulation. The FDIC was named Receiver. Talmer Bank & Trust, Troy, MI acquired all deposit accounts.

The FDIC as Receiver for Community Central Bank, Mount Clemens, MI has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on November 28, 2017 and has made all dividend distributions required by law.

Effective February 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: February 1, 2018

https://www.federalregister.gov/documents/2017/11/08/2017-24285/notice-to-all-interested-parties-of-intent-to-terminate-the-receivership-of-10359-community-central 

https://www.govinfo.gov/content/pkg/FR-2017-11-08/pdf/2017-24285.pdf  David Widlak

Jeong Gu Haeng - 50-year-old head of Jeil 2 Savings Bank headquartered in central Seoul, was found lying dead

2011: J.P. Morgan Metals merges with J.P. Morgan Securities Seoul Branch.(South Korea)
https://www.jpmorgan.co.kr/en/about-us

2011: J.P. Morgan opens office in Doha, Qatar.
https://www.jpmorgan.com/EG/en/about-us

 

CUSTODY AGREEMENT BETWEEN COLUMBIA ACORN TRUST AND WANGER ADVISORS TRUST, SEVERALLY AND NOT JOINTLY, AND JPMORGAN CHASE BANK, N.A. NEW  NEW

 

Citigroup 2011

Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011
829,802 views?Jul 13, 2011

Campaign for Liberty
22.4K subscribers
July 13, 2011 - Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.

Paul: "Is gold money?"
Bernanke: "............ No."

SUBSIDIARIES OF PROLOGIS, INC. AND PROLOGIS, L.P.

ESTABLISHMENT OF THE SELECTUSA INITIATIVE

--J.P. Morgan celebrates the 90th anniversary of the firm's presence in China. THE LINK  was disabled  on this page because  it appears JP don't want anyone to see their China history.  https: //www.   jpmorgan.com/pages/ company-history

-Shearman & Sterling represented Citigroup Global Markets Inc. and RBS Securities Inc. as dealer managers in connection with exchange offers of various series of notes of Prologis, L.P. (formerly AMB Property, L.P.) for certain series of outstanding notes issued by ProLogis, conducted in connection with, and subject to the consummation of, a merger of equals between ProLogis and AMB Property Corporation. The combined company is now known as Prologis, Inc. Concurrently with the exchange offers, Citigroup Global Markets Inc. and RBS Securities Inc. acted as solicitation agents on behalf of the combined company, for the solicitation of consents from the holders of the ProLogis notes to certain proposed amendments to the relevant ProLogis notes indenture. The exchange offers closed on June 8, 2011.

-- On July 5, 2011, BMO Financial Group acquired Marshall & Ilsley Corporation through its subsidiary BMO
Financial Corp. (formerly Harris Financial Corp.). At the time of the acquisition, certain bank mergers also
occurred.

- Yes, the U.S. Government Ought to Own the Banks Now

Special Access in Connection with the Division of Enforcement's  [Citigroup]

Proposed Amendment to Regulation CC Regarding Availability of Funds and
Collection of Checks (Docket No. R-1409) - Comments on Check Fraud Liability

http://www.federalreserve.gov/SECRS/2011/June/20110610/R-1409/R-1409_060311_81006_366940476572_1.pdf

---   In the Matter of CREDIT SUISSE ALTERNATIVE CAPITAL, LLC (f/k/a CREDIT SUISSE ALTERNATIVE CAPITAL, INC.), CREDIT SUISSE ASSET MANAGEMENT, LLC , and SAMIR H. BHATT

Markets (along with certain affiliates, "Citigroup")---   securities fraud action against Brian H. Stoker who was an employee of Citigroup Global Markets, Inc. (along with certain affiliates, "Citigroup")

--- The Commission brings this securities fraud action against Citigroup Global Markets (along with certain affiliates, "Citigroup")

Maurice J. Spagnoletti  Murdered on  June 15, 2011  Executive Vice President of Mortgage and Banking Operations at Doral Financial

Irzen Octa    found outside a Citibank branch in Jakarta and died of a brain hemorrhage on the way to hospital.

Brad Griffiths      He co-founded Griffiths McBurney & Partners in 1995, one of the most powerful independent investment banks in Canada. It is now know as GMP Capital Inc. . He left the firm in 1999. He had also been head of mergers and acquisitions at Canadian Imperial Bank of Commerce; vice-president of Gordon Capital Corp.; head of capital markets at Canaccord Capital; and managing director of capital markets at McFarlane Gordon.
More recently, he served as chief financial officer and chairman of the board of directors at United Hunter Oil and Gas Corp., as well as chairman of Griffiths Energy International.

Timothy McGuigan   a senior vice president at Kansas State Bank

Robert H. Lessin   vice chairman of Jefferies    

 

EX-10.1 2 c15609exv10w1.htm EXHIBIT 10.1
Exhibit 10.1
SENIOR FACILITIES AGREEMENT
380,000,000 Term Facility
40,000,000 Revolving Facility
Dated 16 March 2011
AGZ HOLDING
as Parent and Borrower
ANTARGAZ
as Borrower
THE ENTITIES NAMED HEREIN
as Lenders
BNP PARIBAS
CAISSE REGIONALE DE CREDIT AGRICOLE MUTUEL DE PARIS ET D?ILE DE FRANCE
CREDIT LYONNAIS
NATIXIS
as Mandated Lead Arrangers and Bookrunners
BARCLAYS BANK PLC
BANQUE COMMERCIALE POUR LE MARCHE DE L?ENTREPRISE
ING BELGIUM SA, SUCCURSALE EN FRANCE
as Mandated Lead Arrangers
BANCO BILBAO VIZCAYA ARGENTARIA
CREDIT DU NORD
HSBC FRANCE
CREDIT SUISSE INTERNATIONAL
BRED BANQUE POPULAIRE
BANQUE PALATINE
as Arrangers
NATIXIS
as Facility Agent and Coordinator
NATIXIS
as Security Agent  https://www.sec.gov/Archives/edgar/data/884614/000095012311046616/c15609exv10w1.htm


Close to a million home loans in the U.S. were in some stage of the foreclosure process in early 2011. More than half a decade after the start of the housing crisis, that number has started to decline, but there were still nearly 750,000 homes in the foreclosure process as of February. To determine the 10 banks foreclosing the most home loans, 24/7 Wall St. reviewed data provided by RealtyTrac, an online real estate marketplace and data source on distressed homes properties. All data are as of February 2013 and reflect the amount and value of both homes and mortgages serviced by the nation?s major banks. The banks foreclosing on the most homes may not directly own the bulk of the mortgages. Rather, they often service them for other entities. In other cases banks act as a trustee, representing a pool of mortgage loans held in a trust. These are the 10 banks foreclosing the most homes: http://www.marketwatch.com/story/10-banks-foreclosing-on-the-most-homeowners-2013-03-20 

Maurice J. Spagnoletti- murdered on June 15, 2011-  He was Doral Financial corporation's executive vice president of Mortgage and Banking Operations. He had only been working at Doral for 6 months when he was killed.


0000891092-11-007596.txt : 20111114 0000891092-11-007596.hdr.sgml : 20111111 20111114131202 ACCESSION NUMBER: 0000891092-11-007596 CONFORMED SUBMISSION TYPE: 424B2 PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20111114 DATE AS OF CHANGE: 20111114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPMORGAN CHASE & CO CENTRAL INDEX KEY: 0000019617 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 132624428 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-177923 FILM NUMBER: 111200272 BUSINESS ADDRESS: STREET 1: 270 PARK AVE STREET 2: 38TH FL CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2122706000 MAIL ADDRESS: STREET 1: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: J P MORGAN CHASE & CO DATE OF NAME CHANGE: 20010102 FORMER COMPANY: FORMER CONFORMED NAME: CHASE MANHATTAN CORP /DE/ DATE OF NAME CHANGE: 19960402 FORMER COMPANY: FORMER CONFORMED NAME: CHEMICAL BANKING CORP DATE OF NAME CHANGE: 19920703 424B2 1 e46161_424b2.htm PRODUCT SUPPLEMENT NO. 6-I

Product supplement no. 6-I
To prospectus dated November 14, 2011 and
prospectus supplement dated November 14, 2011
Registration Statement No. 333-177923
Dated November 14, 2011
CHEMICAL BANKING CORP
 

China Commercial Credit, Inc. is a holding company that was incorporated under the laws of the State of Delaware on December 19, 2011. The Company, through its indirect wholly-owned subsidiary, Wujiang Luxiang Information Technology Consulting Co. Ltd. (?WFOE?), a limited liability company formed under the laws of the PRC on September 26, 2012, controls Wujiang Luxiang, a company established under the laws of the PRC on October 21, 2008, through a series of contractual arrangements. CCC International Investment Ltd. (?CCC BVI?), a company incorporated under the laws of the British Virgin Islands (?BVI?) on August 21, 2012, is wholly owned by the Company. CCC BVI wholly owns CCC International Investment Holding Ltd. (?CCC HK?), a company incorporated under the laws of the Hong Kong S.A.R. of the PRC on September 4, 2012. WFOE is wholly owned by CCC HK. On September 5, 2013, CCC HK incorporated PFL a wholly owned subsidiary, to start our financial leasing business. https://www.sec.gov/Archives/edgar/data/1556266/000121390016012552/f10k2015_chinacommercial.htm

 

2012

William Hart head of sales at the Bank of China International in Singapore

woman named Kim  50-year-old woman named Kim, an executive director of Mirae Savings Bank, was found hanging with her scarf in a Seoul model

2012: The Chip in the Card
J.P. Morgan Chase becomes the first major U.S. bank to issue a credit card with chip-based technology for advanced security.
https://www.aba.com/about-us/our-story/aba-history/2000-present

Illegal Trading in Chinese Bank Stocks

 Morgan Stanley & Co. LLC (Morgan Stanley), was sanctioned by FINRA in
May 2012 and by the New Jersey Bureau of Securities in July 2013 for its lack of compliance policies prior to June 2009 specifically addressing the sale of non-traditional ETFs, including the single-inverse ETFs at issue in this Order.

Morgan Stanley Smith Barney, LLC, (MSSB) is a wholly owned subsidiary of Morgan Stanley Smith Barney Holdings, LLC, and an indirectly wholly owned subsidiary of Morgan Stanley, a Delaware limited liability company with its principal executive offices in New York, New York and whose shares are traded on the New York Stock Exchange. MSSB is headquartered in Purchase, New York and has been dually registered as an investment advis or and  broker-dealer with the Commission since May 2009, following its formation through a joint venture of Morgan Stanley?s Global Wealth Management Group and Citigroup Inc.?s Smith
Barney businesses.
https://www.sec.gov/litigation/admin/2017/ia-4649.pdf

There are no PRC state, provincial or local laws, rules and regulations prohibiting or restricting direct foreign equity ownership in companies engaged in rural microcredit business. However, the provincial authorities regulate microcredit companies through strict licensing requirements and approval procedures. Direct controlling foreign ownership in a for-profit microcredit company has never been approved by competent Jiangsu government authorities. Based on the current position taken by the competent Jiangsu government authorities, direct foreign controlling ownership of a for-profit rural microcredit company will not be approved in the foreseeable future.

As such, neither we nor our subsidiaries own any equity interest in Wujiang Luxiang. Instead, we control and receive the economic benefits of Wujiang Luxiang?s business operation through a series of contractual arrangements. WFOE, Wujiang Luxiang and its shareholders entered into a series of contractual arrangements, also known as VIE Agreements, on September 26, 2012. The VIE Agreements are designed to provide WFOE with the power, rights and obligations equivalent in all material respects to those it would possess as the sole equity holder of Wujiang Luxiang, including absolute control rights and the rights to the assets, property and revenue of Wujiang Luxiang. Based on a legal opinion issued by Dacheng Law Offices to WFOE, the VIE Agreements constitute valid and binding obligations of the parties to such agreements, and are enforceable and valid in accordance with the laws of the PRC.  https://www.sec.gov/Archives/edgar/data/1556266/000121390016012552/f10k2015_chinacommercial.htm


 Morgan Stanley International Fund     

Shane Todd  Murdered-highly likely....   NEW updated

HSBC Case Study

HSBC Exposed U.S. Financial System to Money Laundering, Drug, Terrorist Financing Risks

-Jumpstart Our Business Startups Act of 2012

The Jumpstart Our Business Startups Act (the "JOBS Act") was enacted on April 5, 2012. The JOBS Act aims to help businesses raise funds in public capital markets by minimizing regulatory requirements. The full text of the Act is available at:
http://www.gpo.gov/fdsys/pkg/BILLS-112hr3606enr/pdf/BILLS-112hr3606enr.pdf.

-A Goldman Sachs banker added to the firm?s scarred public profile in a withering resignation letter published in the New York Times, saying Goldman had become a ?toxic and destructive? place where managing directors openly referred to their own clients as ?muppets.? http://www.thestar.com/business/2012/03/14/goldman_sachs_banker_slams_ripoff_culture_as_he_quits_job.html

---  SEC Charges J.P. Morgan and Credit Suisse With Misleading Investors in RMBS Offerings

Charles Stephen Parker   an assistant manager at a Bank of America branch in nearby Athens

Andrew Breitbart   43, author and publisher, dead  

Michael Marin

Christopher Marks  owned and operated Sweeney Canyon Vineyard since 1981 and was a partner in the Marks Theriot Walston & Co. investment firm in Los Angeles

David Taundi  Banker for Bank of America ,found dead

2013

  central banks of the world

NEW Citigroup Inc. 2013

NEW  2012 Compensation for Mr. Dimon: As announced on January 16, 2013, the Board approved 2012 compensation for Mr. Dimon in the amount of $11.5 million, down 50% from the prior year. Compensation included salary of $1.5 million (flat with the prior year) and incentive compensation of $10 million, all in the form of RSUs (down 53.5% from the prior year). The RSUs vest over three years, half after two years and the other half after three years. The Board also deferred, for a period up to July 22, 2014, vesting of options in the form of share settled stock appreciation rights it had granted Mr. Dimon in January 2008 and which had been scheduled to vest in January 2013.  https://www.sec.gov/Archives/edgar/data/19617/000001961713000255/jpmc2013definitiveproxysta.htm

NEW     In November 2013, JPMorgan Chase, the nation?s largest bank, agreed to pay a then-record $13 billion fine to federal and state authorities in order to settle claims that it had misled investors in the years leading up to the financial crisis. JPMorgan Chase?s settlement raised many eyebrows on Wall Street. The huge settlement appeared inconsistent with the oft-repeated narrative of the bank?s heroism during the crisis. JPMorgan Chase and its C.E.O., Jamie Dimon, after all, were appropriately lauded for swooping in to save both Bear Stearns and Washington Mutual, acts of financial patriotism that certainly helped prevent the U.S. economy from further doubling over upon itself.   JPMorgan Chase-Jamie Dimon

Enhanced Prudential Standards and Early Remediation Requirements for Foreign Banking Organizations and Foreign Non-bank Financial Companies
http://www.federalreserve.gov/SECRS/2013/April/20130425/R-1438/R-1438_041913_111069_466225501262_1.pdf

National Bank and Federal Savings Institution Operating Subsidiary

Meeting between Federal Banking Agency Staffs and Representatives of The Clearing House

2013-10-01 CITIFINANCIAL SERVICES, INC. was renamed
to CFNA RECEIVABLES (CA), INC..
 

CITIGROUP INC. (1951350) acquires CITIGROUP FUNDING INC. (3367236) 2013-01-01 The acquired institution sold its assets to the acquiring institution.

CITIGROUP INC. (1951350) acquires  ASSOCIATED MADISON COMPANIES, INC. (1277881) 2013-11-01 The acquired institution sold its assets to the acquiring institution.

-New York-based Citigroup in August became the first Western bank to issue credit cards in China without co-branding from a local financial institution as the government relaxes restrictions.

--UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549
FORM S-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Citigroup Inc.
(Exact name of registrant as specified in its charter)

-On 29 September 2013, Morgan Stanley announced a partnership with Longchamp Asset Management, a French-based asset manager that specialises in the distribution of UCITS hedge funds, and La Franaise AM, a multi-specialist asset manager with a 10-year track record in alternative investments.Citigroup, JPMorgan Chase and Royal Bank of Scotland are the latest global banks confirming that their foreign exchange trading is under investigation.

_________________________________________

British banking giant Barclays, UBS, Switzerland's largest bank, and German banking giant Deutsche Bank previously made similar disclosures to investors about the foreign exchange investigations.

The U.S. Department of Justice confirmed it had "an active, ongoing investigation into possible manipulation of foreign exchange rates" by traders at several banks. Swiss authorities are also investigating.
http://www.usatoday.com/story/money/business/2013/11/01/rbs-bank-forex-trading-probe/3345513/    

Pooling and Servicing Agreement dated as of June 1, 2013, by and among J.P.
MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP, as Depositor, MIDLAND LOAN
SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION, as Master Servicer,
LNR PARTNERS, LLC, as Special Servicer, and PENTALPHA SURVEILLANCE LLC, as
Senior Trust Advisor and Wells Fargo Bank, N.A. as Certificate Administrator,
Paying Agent, Trustee and Custodian relating to the Series JPMBB 2013-C12
Commercial Mortgage Pass-Through Certificates relating to the Legacy Place
Mortgage Loan Combination , a pari passu portion of which is included in the
Series JPMC 2013-LC11 Commercial Mortgage Pass-Through Certificates
transaction.
https://www.sec.gov/Archives/edgar/data/1574219/000105640414000329/0001056404-14-000329.txt

Makoto Shimomi (Jan) Swiss-based Japanese banker

Nico Lambrechts (Jan)   Investment analyst at Investec Asset Management

David Rossi  (Mar)  The communications director of Italian bank Monte dei Paschi di Siena (MPS)

Wang Shiqiang (April) banker at state-owned China Jianyin Investment

Mohamed Hamwi  System Analyst at Trepp, a financial data and analytics firm, SHOT

 Kenneth Bellandro, former JP Morgan

David William Waygood  had been employed by both HSBC and NatWest

Hussain Ahmad Najadi   founder of AMMB Holdings Bhd. (AMM)

Carsten Schloter  Swisscom CEO[a publicly traded company in which the Swiss government has the majority stake]

Sascha Schornstein  Royal Bank of Scotland [RBS] in its commodity finance

Anne Doss, Head of Wells Fargo Unit , She died on Aug. 14 in her hotel room at the Sofitel    Minneapolis in Bloomington, Minnesota  UPDATED

Moritz Erhardt (Aug)   Interning with investment bank Merrill Lynch

Patrick Sheehan a managing director in Wells Fargo Securities public finance department

 Pierre Wauthier    chief financial officer of Zurich Insurance Group AG (ZURN)

Guy Ratovondrahona   Madagascar Central Bank

Ezdehar Husainat  former JP Morgan banker, killed  when her SUV crushed her to death

Michael Burdin  -Bank of America

Venera Minakhmetova  Former Financial Analyst at Bank of America Merrill Lynch

Susan Hewitt  former vice president of  Deutsche Bank

Benjamin Idim, CAR ACCIDENT

Joseph M. Ambrosio age 34, Financial Analyst at J.P. Morgan

Robert Wilson, a retired hedge fund founder

Jason Alan Salais age 34, IT Specialist for J.P Morgan Chase

Wang Shiqiang

2014

NEW
Department of Justice
U.S. Attorney’s Office
Southern District of New York
FOR IMMEDIATE RELEASE
Tuesday, January 7, 2014
Manhattan U.S. Attorney And FBI Assistant Director-In-Charge Announce Filing Of Criminal Charges Against And Deferred Prosecution Agreement With JPMorgan Chase Bank, N.A., In Connection With Bernard L. Madoff’s Multi-Billion Dollar Ponzi Scheme
JPMorgan Criminally Charged With Two Violations Of The Bank Secrecy Act
Charges to Be Deferred for Two Years Under an Agreement Requiring JPMorgan to Admit to Its Conduct; Pay $1.7 Billion to Victims of Madoff’s Fraud; and to Reform Its Anti-Money Laundering Policies
$1.7 Billion Payment by JPMorgan is the Largest Ever Bank Forfeiture and Department of Justice Penalty for a Bank Secrecy Act Violation http://https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-and-fbi-assistant-director-charge-announce-filing-criminal

NEW  Between at least 2006 and 2014, Deutsche Bank provided valuable employment to the relatives of foreign government officials in various parts of the world as a personal benefit to the officials in order to improperly influence them to assist the bank in obtaining or retaining business or other benefits.  ...
Deutsche Bank employees created false books and records that concealed corrupt hiring practices and failed to accurately document and record certain related expenses and Deutsche Bank failed to devise and maintain a system of internal accounting controls around its hiring practices sufficient to provide reasonable assurances that its employees did not bribe foreign government officials.     
https://www.sec.gov/litigation/admin/2019/34-86740.pdf

Mike Dueker dead

INTERNATIONAL
U.S. Investigators Launch Probe Of JPMorgan Chase In China
August 18, 20134:24 PM ET
SCOTT NEUMAN

The office of the locally incorporated JPMorgan Chase Bank in Beijing.
AFP/Getty Images
The Securities and Exchange Commission has launched an investigation of JPMorgan Chase's operations in China, reportedly looking into whether the investment bank hired the children of high-ranking Chinese government officials in an effort to secure business.

The Wall Street Journal quotes from an SEC filing that says U.S. regulators are investigating "business relationships with certain clients."

The New York Times writes that in one instance, JPMorgan reportedly hired a former Chinese banking regulator's son who later became chairman of the China Everbright Group: "After the chairman's son came on board, JPMorgan secured multiple coveted assignments from the Chinese conglomerate, including advising a subsidiary of the company on a stock offering, records show."

In another example, JPMorgan's Hong Kong office hired the daughter of a Chinese railway official, The Times says. The official "was later detained on accusations of doling out government contracts in exchange for cash bribes, the government document and public records show," according to the newspaper. The Times adds:

"The former official's daughter came to JPMorgan at an opportune time for the New York-based bank: The China Railway Group, a state-controlled construction company that builds railways for the Chinese government, was in the process of selecting JPMorgan to advise on its plans to become a public company, a common move in China for businesses affiliated with the government. With JPMorgan's help, China Railway raised more than $5 billion when it went public in 2007."

JPMorgan says it is fully cooperating with investigators.

As background, The Journal comments:
"Many investment banks and other multinationals have hired children of senior Communist Party figures who are commonly known as 'princelings.' They may help multinational companies develop relationships in China. International investment banks including Credit Suisse, Goldman Sachs, Citigroup, Bank of America and Macquarie Group have all brought the children of current or former political officials on board, according to previous reporting by The Wall Street Journal."  https://www.npr.org/sections/thetwo-way/2013/08/18/213255118/u-s-investigators-launch-probe-of-jpmorgan-chase-in-china

 

PNC Funds     NEW

SEC Enforcement Actions Addressing Misconduct That Led to or Arose From the Financial Crisis
 
Key Statistics (through September 11, 2014))
 

List of Federal Reserve Member Banks https://fraser.stlouisfed.org/docs/historical/federal%20reserve%20history/rboc/rboc_memberbanks_19140527.pdf

Banks of England http://www.bankofengland.co.uk/pra/Documents/authorisations/banklist1405.pdf

Money Managers who own this Issuer?s Securities or Options on them City National Corp

SEC?s FY 2014 Enforcement Actions

BofA Fined $16.6M for Violating Drug-Trafficking Sanctions

 Losses House Votes To Audit The Fed... And Deregulate Wall Street

European Banks Sued for Indirect Funding of Terror Attacks

Wells Fargo, HSBC Among Banks Sued Over Subprime Securities

HSBC is paying $2 billion, or 5 weeks' worth of its profit, to avoid criminal charges in drug cartel laundering case

The Justice Department agreed to suspend criminal charges against the world's largest bank and its US subsidiary for five years if the bank agreed to pay the penalty.
http://www.globalpost.com/dispatch/news/regions/americas/united-states/140121/hsbc-paying-2-billion-drug-money-laundering-cartel
 

Meeting Between Staff of the Federal Reserve Board, the Office of the Comptroller of theCurrency (OCC), the Federal Deposit Insurance Corporation (FDIC),and Citigroup Global Markets Inc. (Citigroup)

February 19, 2014

Participants: David Emmel, Kevin Littler, Dafina Stewart, Jahad Atieh (Federal Reserve
Board)
Tena Alexander, Jill Cetina, Tiffany Eng, Linda Jennings, Patrick Tierney,James Weinberger (OCC)
Kyle Hadley, Eric Schatten, Sue Dawley, Jason Fincke (FDIC)
Jim Johnson, Howard Marsh, Joseph Geraci, Patrick Brett, Peter O?Connor,Sarah Sullivan (Citigroup)

Summary: Staff of the Federal Reserve Board, OCC, and the FDIC met with representatives of Citigroup to discuss the proposed Liquidity Coverage Ratio rule, which would implement the
Basel III liquidity standards in the United States. Meeting participants discussed the proposed rule?s definition of level 2A highly liquid assets and the consequences of omitting municipalsecurities from the definition of highly liquid assets.

http://www.federalreserve.gov/newsevents/rr-commpublic/citigroup-20140219.pdf

-Meeting Between Staff of the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and Citigroup

May 7, 2014

Participants: David Emmel, Kevin Littler, Adam Trost, April Snyder, Dafina Stewart, and Jahad Atieh (Federal Reserve Board)

Kerrie Corn, Kevin Walsh, and Patrick Tierney, (OCC)
Kyle Hadley, Suzanne Clair, and Sue Dawley (FDIC)
Eric Aboaf and Nora Slatkin (Citigroup)

Summary: Staff of the Federal Reserve Board, the OCC, and the FDIC met with representatives of Citigroup to discuss the proposed Liquidity Coverage Ratio rule, which would implement the Basel III liquidity standards in the United States. Meeting participants discussed the potential consequences of the proposed peak net contractual outflow day
. http://www.federalreserve.gov/newsevents/rr-commpublic/citigroup-20140507.pdf

Citigroup Sued in Abu Dhabi  By Investor Over Fund

-Friends Commit Suicide  In The Last Four Years, Associates Say Russian Mafia Orchestrated Their Deaths

Elizabeth Warren's Speech (below)

THE GREAT AMERICAN ADVENTURE by Judge Dale

David Bird 55, long-time reporter for the Wall Street Journal working at the Dow Jones news room,   went for a walk on Saturday, January 11, 2014 near his New Jersey home and disappeared without a trace. Mr. Bird was a reporter of the oil and commodity markets which happened to be under investigation by the U.S. Senate Permanent Subcommittee on Investigations for price manipulation.

Tim Dickenson (Jan 26), a U.K.-based communications director at Swiss Re AG

Karl Slym (Jan 27) 51, managing director of India's Tata Motors Ltd   

James Stuart Jr (Feb 19)70, Former National Bank of Commerce CEO was found dead in Scottsdale, Ariz

John Ruiz  (Feb)? Morgan Stanley Municipal Debt Analyst, died suddenly

Autumn Radtke  (Feb), 28, CEO of a Bitcoin exchange firm First Meta

William Broeksmit   (Feb), 58, former senior manager for Deutsche Bank. On January 26, former Deutsche Bank executive Broeksmit was found dead at his South Kensington home after police responded to reports of a man found hanging at a house. According to reports, Broeksmit had ?close ties to co-chief executive Anshu Jain.? It is important to note that Deutsche Bank is under investigation for reportedly hiding $12 billion in losses during the financial crisis and for potentially rigging the foreign exchange markets. The allegations are similar to the claims the institution settled in 2013 over involvement in rigging the Libor interest rates.

http://wallstreetonparade.com/wp-content/uploads/2014/07/Email-from-William-Broeksmit-to-Anshu-Jain-Released-by-the-U.S.-Senate-Permanent-Subcommittee-on-Investigations.pdf

Richard Talley (Feb), 57, was the founder and CEO of American Title (real estate titles) American Title Services in Centennial, Colorado,

Ryan Henry Crane  (Feb)37,J P Morgan 

last name Li   Li Junjie, (Feb)33,JP Morgan, Hong Kong

Gabriel Magee  (Jan), 39, age JP Morgan employee Gabriel Magee, senior manager at JP Morgan?s European headquarters, jumped 500ft from the top of the bank?s headquarters in central London on January 27, landing on an adjacent 9 story roof. Gabriel Magee, a Vice President at JPMorgan in London, plunged to his death from the roof of the 33-story European headquarters of JPMorgan in Canary Wharf. Magee was involved in ?Technical architecture oversight for planning, development, and operation of systems for fixed income securities and interest rate derivatives? based on his online Linkedin profile.
It?s important to note that JPMorgan, like Deutsche Bank, is under investigation for its potential

Mike Dueker    (Jan), 50, who had worked for Russell Investments. Mike Dueker, the chief economist at Russell Investments, fell down a 50 foot embankment in what police described as a suicide. Dueker was reported missing on January 29 by friends.

Edmund (Eddie) Reilly(Feb), 47, Midtowns Vertical Group, investment banker,  New York

David Taundi   Bank of America

Mohamed Hamwi (March) System Analyst at Trepp, a financial data and analytics firm

Joseph A. Giampapa (March)  55, corporate bankruptcy lawyer, JP Morgan Chase

Jurgen Frick (April)48, the chief executive of the Liechtenstein private bank Bank Frick, CEO Bank Frick & Co AG,

Li Jianhua  (April)49, Non-bank Financial Institutions Supervision Department of the regulator

Benedict Philippens (April), 37,Director/Manager Bank Ans-Saint-Nicolas,BNP Parisbas Fortis Bank, Ans, Belgi murdered alongside his wife and a 9 year old nephew

Tanji Dewberry (April) WL Ross investment firm in New York

Jan Peter Schmittmann  (April)  57, ABN Amro, former CEO of Deutsche Bank AG risk executive

Andrew Jarzyk   (April)? Assistant Vice President, Commercial Banking at PNC Financial Services Group

Mahafarid Amir Khosravi a/k/a also known as Amir Mansour Aria , Iran billionaire, executed over $2.6 billion scam

Phubadee Marasa    Diamond Bank

Amir Kess (April) Markstone Capital Partners Group LLC co-manager

Nigel Sharvin (May)Senior Relationship Manager Ulster Bank manage portfolio of distressed businesses

Thomas J. Schenkman  (May 7) 42,Managing Director Global Infrastructure JP Morgan   

 Naseem Mubeen  Assistant Vice President of Zarai Taraqiati Bank Limited (ZTBL)

Daniel Leaf   senior manager at the Bank of Scotland before moving to investment firm Saracen Fund Managers (SFM)

Richard Rockefeller, 66, Banker John D. Rockefeller

Richard P. Gravino  (June 24)49, IT Specialist JP Morgan, Application Team Lead 

Julian Knott   (July 10)JPMorgan Chase employee       

S Krishnamoorthy     Barclays bank in Chennai

Therese Brouwer , 50, Managing Director ING, Nederland

Tod Robert Edwards  51, Vice President M & T Bank

Melissa Millan   , 54, Senior Vice President Mass Mutual,

Thieu Leenen, 64, Relatiemanager ABN/AMRO, Eindhoven, Nederland

Carlos Six, 61, Hoofd Belastingdienst en lid CREDAF, Belgi

Jan Winkelhuijzen, 75, Commissaris en Fiscalist (voormalig Deloitte), Nederland.

Lewis Katz 76, Amerika, co-owner of The Inquirer, Philadelphia Daily News, and Philly.com

Nicholas Valtz 39, Managing Director Goldman Sachs, New York

Geert Tack 52, Private Banker ING, Haaltert, Belgi

Seth Tobias-CNBC CONTRIBUTER-HEDGE FUND MGR

Mark Schultz  (Sept)  A small airplane crashed soon after takeoff in western Minnesota, killing a bank executive and his brother, a longtime Medtronic employee

Tod R. Edwards  (Sept)  the Group Vice President for M&T Bank, Lancaster and Harrisburg Offices

Christophe de Margerie    (Oct)    Totals CEO        

Calogero "Charlie" Gambino  (Oct 20)  A senior Deutsche Bank regulatory lawyer

 Scott Jeffrey Therriault   BTRE, Executive Director at JP Morgan Chase in 2002, Merrill Lynch, etc.

Jeffrey Schwartz, former ProLogis CEO chairman of the Executive Committee and co-Founder Global Logistic Properties dies, http://media.corporate-ir.net/media_files/IROL/24/240724/Global_Logistic_Properties_Limited_AR_2013.pdf    

Jeffrey H. Schwartz
Chairman of the Executive Committee
Executive Director
Appointed September 24, 2010
Jeffrey H. Schwartz, 54, is Co-Founder of Global Logistic
Properties Holdings Limited, Chairman of the Executive
Committee, Executive Director and GLP Group?s Deputy
Chairman of the Board. Mr. Schwartz was last reelected
as a Director at GLPs Annual General Meeting
on 20 July 2011. He also serves as a member of GLPs
Investment Committee. Mr. Schwartz joined ProLogis,
a NYSE-listed Fortune 500 company, in 1994, and held
various executive roles, rising to Chief Executive Officer
in 2005 as well as Chairman of the Board in 2007.
While at ProLogis, Mr. Schwartz spearheaded ProLogis
entry into the European markets in 1997, and also
established ProLogis Asia platform in 2002, initially in
Japan and eventually progressing to China and Korea.
Mr. Schwartz serves on the advisory boards of the
Guanghua School of Management, Peking University
and Fundacao Dom Cabral, Brazil. Mr. Schwartz is a
member of the Board of Trustees of Emory University and
a member of the Real Estate Roundtable, a non-profit

public policy organization. He also sits on the board of
Las Vegas Sands Corp., Sands China Limited and GLP
Japan Advisors Inc., the Asset Manager for GLP J-REIT.
Mr. Schwartz graduated from Harvard Business School
in 1985 with a Master of Business Administration.
Mr. Schwartz graduated from Emory University in 1981
with a Bachelor of Business Administration
.http://media.corporate-ir.net/media_files/IROL/24/240724/Global_Logistic_Properties_Limited_AR_2013.pdf

Jeffrey Schwart is in the middle (picture below)

 

Thierry Leyne    a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the International Monetary Fund, was found dead

Shawn D. Miller  (Nov), 42, Managing Director Citigroup, New York,

Johnny Elichaoff

Robert Matthews   Vice Chairman of Commercial Banking and a member of the Citizens Financial Group board of directors

HughSkip McGee III is a bankers banker, a sort of Ur-financier whose credentials (Princeton football, experienced golfer, numeral suffix) speak to the kind of Wasp pedigree that once qualified a man to work on Wall Street. Accordingly, McGee had the kind of career path that is only possible on Wall Street: a road marked by a series of expensive failures and egregious lapses in judgment that still, somehow, leads to million-dollar bonuses and, eventually, to the corner office.  Hugh ?Skip? McGee III   steps down....

NEW  Kenneth Bellando  Kenneth Bellando jumped to his death on March 12
    He worked at Levy Capital Partners and had previously trained as an analyst at JPMorgan and Paragon Capital Partners
    His father John is the COO and CFO of Conde Nast and his brother is a CIO at JPMorgan

2015

NEW   Stonegate Bank in Florida opens bank account for Cuban govt
Published Wed, May 20 2015
Reem Nasr
Stonegate Bank opens bank account for Cuban gov't

A small bank is Florida has opened a bank account for the Cuban government. CNBC confirmed that Stonegate Bank has become the first U.S. bank to do so. (Tweet This)

In the past, the Cuban government has had to deal in cash when making payments in the U.S. The news could be a catalyst in thawing relations between Cuba and the U.S.

Read More Here's what $100 gets you in Cuban rum and cigars

The news came a day ahead of what is expected to be the final meeting between the State Department and representatives of the Cuban government. The meetings could lead to the announcement of a re-establishment of diplomatic ties between the two countries.

Shares of Stonegate were up more than 2 percent early Wednesday afternoon.

—Reported by CNBC's Michelle Caruso-Cabrera, written by CNBC.com's Reem Nasr.

https://www.cnbc.com/2015/05/20/stonegate-bank-in-florida-has-opened-a-bank-account-for-cuban-government.html

 

 

   

CitiGroup had np right to take my home  Citigroup attorney deliberately misspelled Tetstone.

When my house and property were being illegally taken from me. Two things happened that showed how determined a few people  in North Carolina were to take my home:

1. I received a letter saying I had 20 days to ask for jury  trial or my case would go before a magistrate judge [no jury], just a few days later I got  summoned to court-to appear in front of a magistrate judge.

2. The Citifinancial {OK} [ Citigroup]  attorney in North Carolina,after I called trying to explain that the property they were trying to take was still to be paid under the insurance  contract agreement, the attorney filed a reply to the court [ON MY BEHALF] without my knowledge or consent. I found out about the filing after I received a copy in the mail, sent to me by the Bradford County, Clerk of Court's office.

NEW  For a long time, the biggest holder of U.S. debt was China. But did you know that in late 2016, Japan overtook China as the biggest foreign holder of U.S. debt? Japan and China are, by far, the two biggest holders of U.S. debt ? but the top five is filled with countries that you might not expect. How about Ireland, the Cayman Islands, and Brazil? Did you expect them to be substantial holders of U.S. debt?  Debts Owed by the US Government VS Debts Owed to it  Note: When did these countries pay their individual War debts?

NEW Under PRC laws and regulations, our PRC subsidiaries may pay cash dividends to us out of their respective accumulated profits. However, the ability of our PRC subsidiaries to make such distribution to us is subject to various PRC laws and regulations, including the requirement to fund certain statutory funds, as well as potential restriction on currency exchange and capital controls imposed by the PRC government. For more details, see "Risk Factors?Risks Related to Doing Business in China?We may rely on dividends and other distributions on equity paid by our PRC subsidiaries to fund any cash and financing requirements we may have, and any limitation on the ability of our PRC subsidiaries to make payments to us could have a material and adverse effect on our ability to conduct our business" and "Regulation?Regulations Relating to Dividend Distributions." Pinduoduo Inc

On April 11, 2015, WFOE delivered a notice of termination to Pride Information Technology Co. Ltd. (?Pride Online?), a domestic entity established on February 19, 2014 and 100% owned by Huichun Qin, a former officer and director of the Company, to terminate the VIE agreements by and among the parties. The Company entered into the VIE agreements with Pride Online in order to provide WFOE absolute control over the economic interest in Pride Online. As a result of the termination notice, the contractual arrangements by and among the Company, Mr. Qin and Pride Online terminated as of May 11, 2015 and WFOE no longer controls Pride Online.

 

NOTE: If foreign businesses stayed out of the United States- they could hide their filings. As an American, I have 'the right to know' about businesses doing business in/with my country..... jt

 NEW  Commitments and Contingencies Disclosure 2015

STIPULATED FINAL JUDGMENT AND ORDER WITH RESPECT TO
JPMORGAN CHASE BANK, N.A.

STIPULATED FINAL JUDGMENT AND ORDER WITH RESPECT TO WELLS
FARGO BANK, N.A.

The Bureau and the CPD bring this action against Wells Fargo Bank, N.A. (?Wells Fargo?),
JPMorgan Chase Bank, N.A. (?Chase?), Elaine Oliphant Cohen, and Todd Cohen (collectively,
?Defendants?)

 BULLETIN: Advanced Sales: New IRS policy for Rollovers from One Traditional IRA to Another Traditional IRA    
 

OCC Enforcement Actions and Terminations

http://www.ffiec.gov/nicpubweb/nicweb/OrgHierarchySearchForm.aspx?parID_RSSD=1073757&parDT_END=99991231

https://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=3510

Omar Meza  AIG  executive 

Michael Flanagan  Head of Foreign Exchange Institutional Sales at National Australia Bank.

Chris van Eeghen  head of syndicate and corporate finance markets at ABN Amro Group NV

James 'Jimmy' B. Lee Jr.   NEW

 

 

More than one way to control a Banker :  

 

Igor Artamonov  West Siberian Bank of Sberbank, Daughter found dead

Nick Bagnall  Director at Bank of Tokyo-Mitsubishi, son accidentally killed himself while trying to re-enact a Tudor hanging

Kevin Bespolka   Citi Capital Advisors, Dresdner Bank, Merrill Lynch and Morgan Stanley, Seriously injured and son dead

Robin Clark   RP Martin -Wolf of Shenfield City banker shot, survived

Fang Fang   JP Morgan, China, disgraced

Chris Latham   Bank of America, on trial, Murder for Hire

Hector Sants, Barclays ? resigned due to stress and exhaustion, after being told he risked more serious consequences to his health if he continued to work ? a remarkable turnaround as the Church reportedly approached him two months later and was told he had made a full recovery.

Robert Wheeler, 49, a Deutsche Bank financial advisor, disgraced

Hector Sants, Barclays ? resigned due to stress and exhaustion, after being told he risked more serious consequences to his health if he continued to work ? a remarkable turnaround as the Church reportedly approached him two months later and was told he had made a full recovery.

2016

 NEW On May 4, 2016, PTC Inc. (the ?Company?) entered into an underwriting agreement (the ?Underwriting Agreement?) with J.P. Morgan Securities LLC, as representative of the underwriters named therein (collectively, the ?Underwriters?), pursuant to which the Company agreed to sell and the Underwriters agreed to purchase, upon the terms and subject to the conditions set forth therein, $500 million aggregate principal amount of the Company?s 6.000% Senior Notes due 2024 (the ?Notes?). The Notes will be issued under an indenture to be entered into as of May 12, 2016 between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the ?Base Indenture?), as amended and supplemented by the First Supplemental Indenture to be dated as of May 12, 2016 (together with the Base Indenture, the ?Indenture?). The offering of the Notes is expected to close on May 12, 2016, subject to customary closing conditions.     https://www.sec.gov/Archives/edgar/data/857005/000119312516580201/d124707d8k.htm

The Myth & Meaning of Monopoly Capitalism - by G. Edward Griffin   https://www.youtube.com/watch?v=JYOBFoDh8PQ&feature=emb_rel_end

Banc of California, Inc.
Oct 24, 2016  https://www.sec.gov/Archives/edgar/data/1169770/000089706916001088/cg816992.pdf

NEW Christopher Sanfeliz  JPMorgan, Tampa banker in Orlando,Florida  

 Press Release
JPMorgan Chase Paying $264 Million to Settle FCPA Charges
FOR IMMEDIATE RELEASE
2016-241

Washington D.C., Nov. 17, 2016 ?
The Securities and Exchange Commission today announced that JPMorgan Chase & Co. has agreed to pay more than $130 million to settle SEC charges that it won business from clients and corruptly influenced government officials in the Asia-Pacific region by giving jobs and internships to their relatives and friends in violation of the Foreign Corrupt Practices Act (FCPA).

JPMorgan also is expected to pay $72 million to the Justice Department and $61.9 million to the Federal Reserve Board of Governors for a total of more than $264 million in sanctions resulting from the firm?s referral hiring practices.

According to an SEC order issued today, investment bankers at JPMorgan?s subsidiary in Asia created a client referral hiring program that bypassed the firm?s normal hiring process and rewarded job candidates referred by client executives and influential government officials with well-paying, career-building JPMorgan employment. During a seven-year period, JPMorgan hired approximately 100 interns and full-time employees at the request of foreign government officials, enabling the firm to win or retain business resulting in more than $100 million in revenues to JPMorgan.

?JPMorgan engaged in a systematic bribery scheme by hiring children of government officials and other favored referrals who were typically unqualified for the positions on their own merit,? said Andrew J. Ceresney, Director of the SEC Enforcement Division. ?JPMorgan employees knew the firm was potentially violating the FCPA yet persisted with the improper hiring program because the business rewards and new deals were deemed too lucrative.?

Kara Brockmeyer, Chief of the SEC Enforcement Division?s FCPA Unit, added, ?The misconduct was so blatant that JPMorgan investment bankers created ?Referral Hires vs Revenue? spreadsheets to track the money flow from clients whose referrals were rewarded with jobs. The firm?s internal controls were so weak that not a single referral hire request was denied.?

The SEC?s order finds that JPMorgan violated the anti-bribery, books and records, and internal controls provisions of the Securities Exchange Act of 1934. JPMorgan agreed to pay $105,507,668 in disgorgement plus $25,083,737 in interest to settle the SEC?s case. The SEC considered the company?s remedial acts and its cooperation with the investigation when determining the settlement.

The SEC?s continuing investigation is being conducted by Neil Smith and Paul Block of the FCPA Unit and Rory Alex and Martin Healey of the Boston Regional Office. The SEC appreciates the assistance of the Fraud Section of the U.S. Department of Justice, the U.S. Attorney?s Office for the Eastern District of New York, the Federal Bureau of Investigation, and the Federal Reserve Board of Governors.

###
https://www.sec.gov/news/pressrelease/2016-241.html

https://www.sec.gov/litigation/admin/2016/34-79335.pdf

 

2017

2017: Vaults open for second historic visit
August 24 - Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and Congressional representatives visit the vaults. The vaults open to non-authorized personnel for the first time since 1974.

https://www.usmint.gov/about/mint-tours-facilities/fort-knox

NOTE:  Steven Terner Mnuchin is an American investment banker and film producer who served as the 77th United States secretary of the treasury as part of the Cabinet of Donald Trump from 2017 to 2021. Previously, Mnuchin had been a hedge fund manager and investor.  https://home.treasury.gov/about/history/prior-secretaries/steven-t-mnuchin-2017-2021

 https://www.courier-journal.com/story/news/politics/ky-governor/2021/06/29/matt-bevin-pardon-may-open-him-criminal-liability/7802487002/

https://www.courier-journal.com/story/news/politics/2020/07/23/fbi-held-700-pages-documents-related-gov-matt-bevins-pardons/5492920002/

 

NEW Ned Flynn, Jefferies banker and 30-plus-year muni vet, dies at 60
By Aaron Weitzman October 18, 2017, 4:00 p.m. EDT 3 Min Read

Edward K. "Ned" Flynn, a municipal banker for more than 30 years, died unexpectedly on Monday night at age 60.

Flynn's death was confirmed by colleagues at Jefferies LLC, where he spent the last eight years as an investment banker and manager director. No cause of death was given.

At Jefferies, Flynn focused on public finance and infrastructure finance and worked on financing strategies with a large number of substantial public and private sector issuers.
Aaron Weitzman
Markets Reporter , The Bond Buyer

 2021 Arizent. All rights reserved.

https://www.bondbuyer.com/news/ned-flynn-jefferies-banker-and-30-plus-year-municipal-vet-dies-at-60

 

 NEW      JPMorgan Chase-Jamie Dimon

Important Notice
The Depository Trust Company
B #: 7323-17
Date: December 6, 2017
To: All Participants
Category: Compliance
From: Account Administration/Amber Malave
Attention: Managing Partner/Officer/Cashier
Subject: Additional Account Activation: JPMorgan Chase Bank NA/FBO Blackrock CTF, #3622
Effective with the opening of business on December 14, 2017, JPMorgan Chase Bank, National
Association, account number 0902 will activate the following additional account:
Account Name Account Number
J.P. MORGAN CHASE BANK NA/FBO BLACKROCK CTF #3622
For further information, please contact:
JPMorgan Chase Bank, National Association
Christopher Summers (718) 242-2276
The Depository Trust Company
Leon King (212) 855-4166
file:///C:/Users/Owner/Downloads/7323-17.pdf

AMENDED AND RESTATED CREDIT AGREEMENT NEW

dated as of
January 20, 2017

between

TELEFLEX INCORPORATED,
The GUARANTORS Party Hereto,

The LENDERS Party Hereto,
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent

BANK OF AMERICA, N.A.

and

PNC BANK, NATIONAL ASSOCIATION,
as Co-Syndication Agents

CITIZENS BANK OF PENNSYLVANIA,
DNB BANK ASA, NEW YORK BRANCH,
HSBC SECURITIES (USA) INC.,
MUFG UNION BANK, N.A.,
SUMITOMO MITSUI BANKING CORPORATION

and

WELLS FARGO BANK, N.A.,
as Co-Documentation Agents

CAPITAL ONE, NATIONAL ASSOCIATION,
CITIBANK, N.A.,
FIFTH THIRD BANK

and

U.S. BANK NATIONAL ASSOCIATION,
as Senior Managing Agents

JPMORGAN CHASE BANK, N.A.,
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
PNC CAPITAL MARKETS LLC,
CITIZENS BANK, N.A.,
DNB MARKETS, INC.,
HSBC SECURITIES (USA) INC.,
MUFG UNION BANK, N.A.,
SUMITOMO MITSUI BANKING CORPORATION

and

WELLS FARGO BANK, N.A.
as Joint Lead Arrangers

and

JPMORGAN CHASE BANK, N.A.,
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

and

PNC CAPITAL MARKETS LLC,
as Joint Bookrunners

---------------------------------------------------------------------------------------

Morgan Stanley, Citigroup Charged With Misleading Investors About Forex Trading Program
FOR IMMEDIATE RELEASE
2017-30

Washington D.C., Jan. 24, 2017 ?
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney and Citigroup Global Markets have agreed to pay more than $2.96 million apiece to settle charges that they made false and misleading statements about a foreign exchange trading program they sold to investors.
https://www.sec.gov/news/pressrelease/2017-30.html

October 2017

LOAN AGREEMENT

THIS LOAN AGREEMENT, dated as of October 6, 2017 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this ?Agreement?), between JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a banking association chartered under the laws of the United States of America, having an address at 383 Madison Avenue, New York, New York 10179 (together with its successors and assigns, ?JPM Lender?); BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (together with its successors and assigns, ?Barclays Lender?), GOLDMAN SACHS MORTGAGE COMPANY, a New York limited partnership, having an address 200 West Street, New York, New York 10282 (together with its successors and assigns, ?GS Lender?), and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (together with its successors and assigns, ?MS Lender?) (each of JPM Lender, Barclays Lender, GS Lender, and MS Lender, together with their respective successors and assigns, each, a ?Co-Lender? and collectively, ?Lender?) and CPLV PROPERTY OWNER LLC, a Delaware limited liability company, having its principal place of business at c/o Vici Properties Inc., 8329 West Sunset Road, Suite 210, Las Vegas, Nevada 89113 (?Borrower?). ...

?Individual Note? shall mean, each of (i) that certain Promissory Note A-1, dated as of the date hereof, in the principal amount of $666,500,000.00, made by Borrower in favor of JPM Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, (ii) that certain Promissory Note A-2, dated as of the date hereof, in the principal amount of $465,000,000.00, made by Borrower in favor of Barclays Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, (iii) that certain Promissory Note A-3, dated as of the date hereof, in the principal amount of $209,250,000, made by Borrower in favor of MS Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, and (iv) that certain Promissory Note A-4, dated as of the date hereof, in the principal amount of $209,250,000, made by Borrower in favor of GS Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. https://www.sec.gov/Archives/edgar/data/1705696/000119312517307477/d470550dex1013.htm

on this site; LOAN AGREEMENT -banks and gambling

 

NEW
The Commercial Ecology of Scavenger Capitalism: Monsanto, Fossil Fuels, and the Remaking of a Chemical Giant
Published online by Cambridge University Press:  07 November 2017
BARTOW J. ELMORE
Abstract

Monsanto’s transformation from a chemical firm to a biotechnology business in the 1980s and 1990s reveals that an increasingly small corporate cartel gained dominion over petroleum refining byproducts and that this concentration of ownership had profound implications for the future solvency of Monsanto. As the price of petrochemical feedstocks rose, Monsanto, a company that made 80 percent of its products from fossil fuels, began to pursue an alternative path to profits. In short, concentrated corporate ownership of critical natural resources forced some companies in the chemical commodity production business to pursue radically new ways of generating cash flow. This was especially true for scavenger capitalists such as Monsanto, firms that had historically made their money by scavenging raw material stockpiles produced by booming commercial industries. For firms invested heavily in commodity production but lacking proprietary claims to critical natural resources, the key was finding new ways to make money without depending on fossil fuels. For Monsanto, biotechnology offered a way out.
https://www.cambridge.org/core/journals/enterprise-and-society/article/abs/commercial-ecology-of-scavenger-capitalism-monsanto-fossil-fuels-and-the-remaking-of-a-chemical-giant/A059F1655B5047260A7713D7A9088997

 

2018

In the United States, until 2018 Lloyds Bank and Bank of Scotland plc (BoS) maintained branches in New York, each licensed by the New York State Department of Financial Services (NYDFS) and subject to regulation and examination by the NYDFS and the Federal Reserve Bank of New York (FRBNY).

BoS also maintained a representative office in Houston, Texas (authorized by the Texas Department of Banking (TXB), and subject to regulation and examination by TXB and the Federal Reserve Bank of Dallas). On 11 July 2018, the New York branch of BoS was closed and its license surrendered to the NYDFS, and the NYDFS confirmed to BoS in October, 2018 that the voluntary liquidation of the BoS New York branch under the New York State Banking Law was considered concluded.

On 31 December 2018, Lloyds Bank advised the NYDFS that the Lloyds Bank New York branch was closed and Lloyds Bank surrendered its New York branch license to the NYDFS on that date. The completion of the voluntary liquidation of the Lloyds Bank New York branch is expected to occur during the first half of 2019.

The closure of the New York branches of Lloyds Bank and BoS was a consequence of the need by both banks to comply with the geographic limitations of the Ring-fencing Rules (as defined in the Risk Factors section). The BoS Houston representative office was also closed by BoS on 31 December 2018.

In July, 2018, applications filed on behalf of Lloyds Bank Corporate Markets plc (LBCM) with the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the NYDFS to permit LBCM to establish a branch in New York were approved, and on 27 July 2018, LBCM?s New York branch license was issued by the NYDFS. Also in July, 2018, at the request of Lloyds Bank, the NYDFS issued a representative office license to Lloyds Bank. Under the New York State Banking Law, the NYDFS has the authority, in certain circumstances, to take possession of the business and property located in New York State of a bank, such as LBCM, which maintains a licensed branch in New York State. Such circumstances generally include violations of law, unsafe business practices and insolvency. https://www.sec.gov/Archives/edgar/data/1160106/000093041319000675/c92465_20f.htm

 

Mellon was formed January 31, 2018 through the merger of The Boston Company and Standish into Mellon  effective January  2, 2019, the combined firm was renamed Mellon investments corporation.    https://im.bnymellon.com/us/en/

EX-10.1 2 ex101mpc1218.htm EXHIBIT 10.1
Exhibit 10.1

TERM LOAN AGREEMENT
dated as of January 2, 2018,
among
MPLX LP,
The LENDERS Party Hereto
and
MIZUHO BANK, LTD.,
as Administrative Agent

MIZUHO BANK, LTD.,
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
BARCLAYS BANK PLC,
JPMORGAN CHASE BANK, N.A.
and
WELLS FARGO SECURITIES, LLC,
Joint Lead Arrangers and Joint Bookrunners

BANK OF AMERICA, N.A.,
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
BARCLAYS BANK PLC,
JPMORGAN CHASE BANK, N.A.
and
WELLS FARGO BANK, NATIONAL ASSOCIATION,
Syndication Agents

--- ?Arrangers? means Mizuho Bank, Ltd., Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation?s or any of its subsidiaries? investment banking, commercial lending services or related businesses may be transferred following the date hereof), The Bank of Tokyo-Mitsubishi UFJ, Ltd., a member of MUFG, a global financial group, Barclays Bank PLC, JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC.
https://www.sec.gov/Archives/edgar/data/1510295/000151029518000003/ex101mpc1218.htm
 EX-21 3 corp10k2018exhibit21.htm EXHIBIT 21


Exhibit 21
JPMorgan Chase & Co.

List of subsidiaries
While there are a number of subsidiaries that are required to be reported for various purposes to bank regulators, the following is a list of JPMorgan Chase & Co.?s significant legal entity subsidiaries as of December 31, 2018, as defined by SEC rules. The list includes the parent company of significant subsidiaries even if the parent company did not meet the definition of a significant subsidiary. Excluded from the list are subsidiaries that, if considered in the aggregate, would not constitute a significant subsidiary under SEC rules as of December 31, 2018.
Also included in the list are certain subsidiaries that have been designated as material legal entities for resolution planning purposes under the Dodd-Frank Act that did not meet the definition of a significant subsidiary under SEC rules.

December 31, 2018
Name
Organized Under
The Laws Of

JPMorgan Chase Bank, National Association
United States

Paymentech, LLC
United States

J.P. Morgan Treasury Technologies Corporation
United States

J.P. Morgan International Finance Limited
United States

Chase Paymentech Europe Limited
Ireland

J.P. Morgan Bank Luxembourg S.A.
Luxembourg

JPMorgan Securities Japan Co., Ltd.
Japan

Chase Paymentech Solutions Inc.
Canada

J.P. Morgan International Bank Limited
United Kingdom

J.P. Morgan Capital Holdings Limited
United Kingdom

J.P. Morgan Securities PLC
United Kingdom

J.P. Morgan AG
Germany

JPMorgan Chase Holdings LLC
United States

J.P. Morgan Services India Private Limited
India

JPMorgan Asset Management Holdings Inc.
United States

JPMorgan Distribution Services, Inc.
United States

JPMorgan Asset Management International Limited
United Kingdom

JPMorgan Asset Management Holdings (UK) Limited
United Kingdom

JPMorgan Asset Management (UK) Limited
United Kingdom

JPMorgan Asset Management Holdings (Luxembourg) S.? r.l.
Luxembourg

JPMorgan Asset Management (Europe) S.? r.l.
Luxembourg

J.P. Morgan Investment Management Inc.
United States

J.P. Morgan Broker-Dealer Holdings Inc.
United States

J.P. Morgan Securities LLC
United States

J.P. Morgan Equity Holdings, Inc.
United States

Chase Bank USA, National Association
United States

Chase Card Funding LLC
United States

Chase Issuance Trust
United States

Chase BankCard Services, Inc.
United States
https://www.sec.gov/Archives/edgar/data/19617/000001961719000054/corp10k2018exhibit21.htm

                                                           2019

NEW  Between at least 2006 and 2014, Deutsche Bank provided valuable employment to the relatives of foreign government officials in various parts of the world as a personal benefit to the officials in order to improperly influence them to assist the bank in obtaining or retaining business or other benefits.  ...
Deutsche Bank employees created false books and records that concealed corrupt hiring practices and failed to accurately document and record certain related expenses and Deutsche Bank failed to devise and maintain a system of internal accounting controls around its hiring practices sufficient to provide reasonable assurances that its employees did not bribe foreign government officials.     
https://www.sec.gov/litigation/admin/2019/34-86740.pdf

LPMorgan's  Gregg Smith indictment justice department gov https://www.occ.gov/static/enforcement-actions/eaN19-009.pdf   NEW

September 17, 2019 -Firm celebrates 20th anniversary with new, long-term commitment to the city

Glasgow, U.K. ? JPMorgan Chase & Co. today announces plans to build a new state-of-the-art technology home in Glasgow, coinciding with the firm?s 20th anniversary in the city. The building will be located on Argyle Street in the heart of Glasgow?s International Finance District, giving the firm the capacity to further grow in the city, with space for up to 2,700 employees. It is scheduled to open its doors in 2022.

https://www.jpmorgan.com/solutions/cib/news/jpmorgan-chase-announces-new-glasgow-home

NEW  https://www.worldbank.org/content/dam/meetings/external/springmeeting/Participant-List.pdf

NEW  Financial Data Services Jacksonville FL      Merrill Lynch International Bank and more

2019-  JPMORGAN CHASE & CO. ? 2019 PROXY STATEMENT   NEW
Distributed
$28.5 BILLION
to shareholders
The Firm has demonstrated sustained, strong financial performance

We have generated strong ROE and ROTCE over the past 10 years, while growing average common equity by over 50% from $146 billion to $229 billion and almost doubling average tangible common equity (TCE)1 from $95 billion to $183 billion, reflecting a compound annual growth rate of 5% and 8%, respectively over the period.
https://www.sec.gov/Archives/edgar/data/19617/000119312519098338/d695908ddef14a.htm

NEW1 The Vanguard Group owns the above holdings in its capacity as an investment advisor in accordance with SEC Rule 13d-1(b)(1)(ii)(E). According to the Schedule 13G dated February 11, 2019, filed with the SEC, in the aggregate, Vanguard and the affiliated entities included in the Schedule 13G (Vanguard) have sole dispositive power over 254,639,880 shares, shared dispositive power over 4,567,170 shares, sole voting power over 3,874,941 shares, and shared voting power over 772,915 shares of our common stock.

2 BlackRock, Inc. owns the above holdings in its capacity as a parent holding company or control person in accordance with SEC Rule 13d-1(b)(1)(ii)(G). According to the Schedule 13G dated January 8, 2019, filed with the SEC, in the aggregate, BlackRock and the affiliated entities included in the Schedule 13G (BlackRock) have sole dispositive power over 215,948,619 shares, and sole voting power over 215,948,619 shares of our common stock.
JPMORGAN CHASE & CO. ? 2019 PROXY STATEMENT https://www.sec.gov/Archives/edgar/data/19617/000119312519098338/d695908ddef14a.htm

NEW  Ekaterina Tsukanova, Violin prodigy, 17, found hanged in banker father's £9.5 million mansion
https://www.mirror.co.uk/news/uk-news/violin-prodigy-17-found-hanged-20893179
 

2020

 


Exclusive: JPMorgan cuts ties with OxyContin maker Purdue Pharma – sources

May 23, 2019

By Mike Spector and Jessica DiNapoli

(Reuters) – JPMorgan Chase & Co has cut ties with Purdue Pharma LP over the OxyContin maker’s alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday.

The move makes JPMorgan, the largest U.S. bank by assets, the most high-profile corporation known to have distanced itself from Purdue and its wealthy owners, the Sackler family, amid thousands of lawsuits alleging the company pushed addictive painkillers while downplaying their abuse and overdose risks.

JPMorgan’s decision also underscores a drive among U.S. banks to reassess their relationships with clients and industries in response to controversy and political debates over matters such as immigration detention and mass shootings.

After JPMorgan informed Purdue in March that it had six months to find another bank, Purdue tapped Dallas-based regional bank Comerica Inc to handle its financial transactions and accounts, the sources said.

JPMorgan told Purdue that reputational risks associated with the public backlash against the drugmaker informed its decision to cut business ties, the sources added.

While not a lender to Purdue, JPMorgan’s commercial bank managed the company’s cash and bill payments, according to the sources. It is not clear how long JPMorgan served as Purdue’s bank.

“Purdue is a streamlined organization with an exciting pipeline of new medicines and significant cash reserves,” the company said in a statement. “The company has multiple banking relationships and will not have any interruption to its banking and financial service needs.”

JPMorgan and Comerica declined to comment.

Purdue faces roughly 2,000 lawsuits accusing the Stamford, Connecticut-based company, and increasingly the Sacklers, of aggressively marketing prescription opioids while misleading prescribers and consumers about risks from their prolonged use.

U.S. states, counties and cities are seeking billions of dollars in damages to address harm from opioids. Nearly 400,000 people have died after overdosing on opioids between 1999 and 2017, according to the latest data from the U.S. Centers for Disease Control and Prevention. More than half the deaths resulted from prescription painkillers.

Purdue denies it contributed to the U.S. opioid crisis, pointing to U.S. Food and Drug Administration approvals of labels for the company’s drugs that carried warnings about risk and abuse associated with treating pain. Purdue and its family owners argue that heroin and fentanyl are currently more significant culprits in the opioid epidemic. However, health experts have said many people turn to those drugs after first getting hooked on prescription painkillers.
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In March, Purdue and the Sackler family reached a $270 million settlement with the state of Oklahoma, which on Tuesday is set to take two other drugmakers to trial over claims they also helped fuel the opioid epidemic. Dozens of other states have lawsuits pending against Purdue, and in some instances the Sacklers, who made a financial contribution to the Oklahoma settlement even though they were not defendants in the case.

A North Dakota judge earlier this month dismissed that state’s case against Purdue.

Purdue Chief Executive Officer Craig Landau in March said a bankruptcy filing remained an option for the company to address potential liabilities from widespread litigation.

LATEST TO SHUN

Various museums, universities and other nonprofits are now shunning donations or reassessing their relationships with the Sackler family, which has a long history of philanthropy.

In New York, The Metropolitan Museum of Art, which has a wing named for the Sacklers, and the American Museum of Natural History, said earlier this month they had ceased accepting donations from the family.

For JPMorgan, dropping Purdue is the latest in a series of moves aimed at steering clear of political lightning rods. In January, the bank said it would stop financing operators of private prisons, which have become the target of protests over their role detaining undocumented immigrants.

Its peers have made similar moves. In March, Wells Fargo & Co’s CEO at the time, Tim Sloan, told a congressional panel the bank was exiting relationships with private prison operators.

Citigroup Inc, meanwhile, last year placed restrictions on firearms sales for retailers doing business with the bank following the deadly school shooting in Parkland, Florida. A Bank of America Corp executive said last year that the bank intended to avoid financing military-style firearms for civilians moving forward.

Reporting by Mike Spector and Jessica DiNapoli in New York; Additional reporting by David Henry in New York; Editing by Greg Roumeliotis and Bill Berkrot

https://www.physiciansweekly.com/exclusive-jpmorgan-cuts-ties

Comerica Incorporated
Pricing Term Sheet
$200,000,000
4.000% Senior Notes due 2029
July 18, 2019

Book-Running Manager:
 J.P. Morgan Securities LLC
Morgan Stanley & Co. LLC
RBC Capital Markets, LLC
https://www.sec.gov/Archives/edgar/data/28412/000119312519196588/d732807dfwp.htm

THE ROLE OF PURDUE PHARMA
                         AND THE SACKLER FAMILY
                         IN THE OPIOID EPIDEMIC

                              ----------                            

                      Thursday, December 17, 2020

                  House of Representatives,
                 Committee on Oversight and Reform,
                                                   Washington, D.C

https://www.govinfo.gov/content/pkg/CHRG-116hhrg43010/html/CHRG-116hhrg43010.htm

Ohio city releases pictures of heroin overdose
246,337 views
Sep 10, 2016  https://www.youtube.com/watch?v=b_97FU-

Nick Kristek survives, now lives with heroin's consequences
43,765 views
Oct 28, 2017   https://www.youtube.com/watch?v=LwMw-DWW-i0

 Ohio Attorney General
5.25K subscribers
Marin's Story: The Battle Against Heroin
3,410,026 views
Apr 21, 2014
https://www.youtube.com/watch?v=Qdj65B1lxVc

Stop feeding the snakes in banking- who have long been involved with legal and illegal drug businesses.  -jt


Peg Broadbent   chief financial officer of investment bank Jefferies       NEW
 

Case 20-13076-

IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION In re: LILIS ENERGY, INC., et al., Debtors.1 ? ? ? ? ? ? Case No. 20-33274 MI) (Chapter 11) (Joint Administered) CERTIFICATE OF SERVICE

IN THE UNITED STATES BANKRUPTCY COURT
FOR THE SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
In re:
LILIS ENERGY, INC., et al.,
Debtors.1

Case No. 20-33274 MI)
(Chapter 11)
(Joint Administered)
CERTIFICATE OF SERVICE
I, Ted Tokuda, depose and say that I am employed by Stretto, the claims and noticing agent
for the Debtors in the above-captioned case.
On July 2, 2020, at my direction and under my supervision, employees of Stretto caused
the following documents to be served via electronic mail on the service list attached hereto as
Exhibit B and via first class US Mail on the service list attached hereto as Exhibit C:
 Notice of Chapter 11 Bankruptcy Case (attached hereto as Exhibit A)
 Notice of Designation as Complex Chapter 11 Bankruptcy Cases (Docket No. 2)
 Order Granting Complex Chapter 11 Bankruptcy Case Treatment (Docket No. 29)
Furthermore, on July 2, 2020, at my direction and under my supervision, employees of
Stretto caused the following document to be served via electronic mail on the service list attached
hereto as Exhibit D:
 Notice of Chapter 11 Bankruptcy Case (attached hereto as Exhibit A)
Dated: July 7, 2020 /s/ Ted Tokuda_____
Ted Tokuda
STRETTO
7 Times Square, 16th Floor
New York, NY 10036
Telephone: 855-364-4639
Email: TeamLilisEnergy@stretto.com
1 The Debtors in these chapter 11 cases and the last four digits of their respective federal tax identification
numbers are: Brushy Resources, Inc. (4053); Hurricane Resources LLC (5207); IMPETRO OPERATING
LLC (9730); Impetro Resources, LLC (9608); Lilis Energy, Inc. (1613); and Lilis Operating Company, LLC
(3908). The location of the Debtors? U.S. corporate headquarters and the Debtors? service address is: 201
Main Street, Suite 700, Fort Worth, Texas 76102.

,...BLS Doc 156 Filed 12/16/20 Page 5 of 10
STRETTO

ss 3 City State Zip Country
ABN Amro Clearing Chicago LLC Attn: Kim Vilara 175 W Jackson Blvd Suite 400 Chicago IL 60605
Albert Fried & Company LLC Attn: Anthony Katsingris 45 Broadway 24th Floor New York NY 10006
American Enterprise Investment Services Inc. Attn: Erin M Stieler 682 Ameriprise Financial Center Minneapolis MN 55474
American Enterprise Investment Services Inc. Attn: Greg Wraalstad 901 3rd Ave S Minneapolis MN 55474
American Enterprise Investment Services Inc. Attn: Penny Zalesky 2178 Ameriprise Financial Center Routing S6/2178 Minneapolis MN 55474
Apex Clearing Corporation Attn: Biliana Stoimenova 1700 Pacific Ave Suite 1400 Dallas TX 75201
Apex Clearing Corporation Attn: Brian Darby One Dallas Center 350 M St. Paul Suite 1300 Dallas TX 75201
Bank of America, NA/gwim Trust Operations Attn: Sharon Brown 1201 Main St 9th Floor Dallas TX 75202
Barclays Bank PLC New York Branch Barclaysbank Plc-lnbr Attn: Anthony Sciaraffo 1301 Sixth Ave New York NY 10019
Barclays Bank PLC New York Branch Barclaysbank Plc-lnbr Corporate Actions 200 Cedar Knolls Rd Whippany NJ 07981
Barclays Capital Inc./le Attn: Anthony Sciaraffo 1301 Sixth Ave New York NY 10019
Barclays Capital Inc./le Attn: Anthony Sciaraffo Corporate Actions 400 Jefferson Park Whippany NJ 07981
Barclays Capital Inc./le Attn: Giovanna Laurella, Vice President 70 Hudson St 7th Floor Jersey City NJ 07302
BMO Nesbitt Burns Inc./cds** Attn: Louise Torangeau & Phuthorn Penikett 1 First Canadian Pl 13th Floor PO Box 150 Toronto ON M5X 1H3 Canada
BMO Nesbitt Burns Inc./cds** Attn: Phuthorn Penikett 250 Yonge St 14th Floor Toronto ON M5B 2M8 Canada
BNP Paribas, New York Branch/BNP Paribas Prime Attn: Ronald Persaud, Brokerage Custodian 525 Washington Blvd 9th Floor Jersey City NJ 07310
BNP Paribas, New York Branch/Custody/Client Assets Attn: Dean Galli Ad. D. Joao Ii N. 49 Lisbon 1988-028 Portugal
BNP Paribas, New York Branch/Custody/Client Assets Attn: Russell Yap Corporate Actions 525 Washington Blvd 9th Floor Jersey City NJ 07310
BNY Mellon/re Midcap SPDRS Attn: Jennifer May, Assist Vice President 525 William Penn Pl Pittsburgh PA 15259
Brown Brothers Harriman & Co Attn: Jerry Travers 525 Washington Blvd Jersey City NJ 07310
CDS Clearing & Depository Services Inc.** Attn: Loretta Verelli 600 Blvd de Maisonneuve Ouest Bureau 210 Montreal QC H3A 3J2 Canada
Cetera Investment Services LLC Attn: Ashley Roelike & Angela Handeland Corporate Actions 400 1st St S Suite 300 St. Cloud MN 56301
Charles Schwab & Co Inc. Corporate Actions Dept: 01-1b572 Attn: Christina Young 2423 E Lincoln Dr Phoenix AZ 85016-1215
CIBC World Markets Inc./cds** Attn: Roderick Roopsingh Canadian Imperial Bank of Commerce 22 Front St W 7th Floor Toronto ON M5J 2W5 Canada
Citadel Securities LLC Attn: Kevin Newstead & Rachel Galdones Corporate Actions 131 South Dearborn St 35th Floor Chicago IL 60603
Citibank, NA Attn: Paul Watters & Sherida Sinanan 3801 Citibank Center B/3rd Floor/zone 12 Tampa FL 33610
COR Clearing LLC Attn: Anh Mechals 9300 Underwood Ave Suite 400 Omaha NE 68114
COR Clearing LLC Attn: Luke Holland 1200 Landmark Center Suite 800 Omaha NE 68102
COR Clearing LLC c/o Mediant Communication Issuer Services 8000 Regency Pkwy Cary NC 27518
Credential Securities Inc./cds** Attn: Corporate Actions 1111 W Georgia St Suite 700 Vancouver BC V6E 4T6 Canada
Credit Suisse Securities (USA) LLC Attn: Anthony Milo Global Proxy Services 7033 Louis Stevens Dr Research Triangle Park NC 27709
Credit Suisse Securities (USA) LLC c/o Broadridge 51 Mercedes Way Edgewood NY 11717
Crest International Nominees Ltd Attn: Nathan Ashworth 33 Cannon St London EC4M 5SB United Kingdom
D A Davidson & Co Attn: Debbie Gyger & Rita Linskey 8 Third St N Great Falls MT 59401
Deseret Trust Company - I Issuer Services 51 Mercedes Way Edgewood NY 11717
Desjardins Securities Inc./cds** Attn: Corporate Actions Valeurs Mobiliares Desjardins 2 Complexe Desjardins Tour Est Niveau 62 E1-22 Montreal QC H5B 1J2 Canada
Desjardins Securities Inc./cds** Attn: Reorgonization Department 1 Complexe Desjardins C.p. 34, Succ Esjardins Montreal QC H5B 1E4 Canada
Desjardins Securities Inc./cds** Attn: Veronique Lemieux 1060 University St Suite 101 Montreal QC H3B 5L7 Canada
Deutsche Bank Securities Inc. Attn: Sara Batten 5022 Gate Parkway Suite 100 Jacksonville FL 32256
Deutsche Bank Securities Inc. c/o Services New Jersey Inc. Attn: Eric Herbst 5201 Gate Pkwy Jacksonville FL 32256
E*trade Clearing LLC Attn: John Rosenbach 1271 Avenue of the Americas 14th Floor New York NY 10020
E*trade Clearing LLC c/o Broadridge Attn: Corporate Actions Dept. 2 Journal Square Plaza 5th Floor Jersey City NJ 07306
Edward D Jones & Co Attn: Derek Adams 12555 Manchester Rd St Louis MO 63131
Edward D Jones & Co Attn: Elizabeth Rolwes Corporate Actions 201 Progress Pkwy Maryland Heights MO 63043-3042
Electronic Transaction Clearing, Inc. Attn: Kevin Murphy 660 S Figueroa St Suite 1450 Los Angeles CA 90017
First Clearing, LLC Attn: Corporate Actions 2801 Market St H0006-09B St. Louis MO 63103
Foliofn Investments Inc. Attn: Ashley Theobald 8180 Greensboro Dr 8th Floor Mclean VA 22102
GMP Securities Lp/cds** Attn: Marino Meggetto 145 King St W Suite 300 Toronto ON M5H 1J8 Canada
Goldman Sachs & Co LLC Attn: Steve Berrios - Corporate Actions 100 Burma Rd Jersey City NJ 07305
Goldman Sachs & Co LLC Proxy Hotline 1 30 Hudson St Proxy Department Jersey City NJ 07302
Hilltop Securities Inc. Attn: Bonnie Allen & Rhonda Jackson 1201 Elm St Suite 3500 Dallas TX 75270-2180
HSBC Bank USA, NA/clearing Attn: Howard Dash 452 5th Ave New York NY 10018
HSBC Bank USA, NA/clearing Attn: Leon Schnitzpahn One Hanson Place Lower Level Brooklyn NY 11243
Interactive Brokers Retail Equity Clearing Attn: Karin Mccarthy 8 Greenwich Office Park Greenwich CT 06831
JP Morgan Chase Bank JP Morgan Proprietary Asset Account Attn: Nore Scarlett - Administrator 4 New York Plaza 11th Floor New York NY 10004
JP Morgan Chase Bank NA/fbo Blackrock Ctf Attn: Corporate Actions 14201 Dallas Pkwy 12th Floor Dallas TX 75254
JP Morgan Chase Bank, NA Attn: Marcin Bieganski 14201 Dallas Pkwy 12th Floor Dallas TX 75254
JP Morgan Chase Bank, NA Attn: Sachin Goyal 500 Stanton Christiana Rd Ops 4 Floor 02 Newark DE 19713-2107
JP Morgan Chase Bank/Euroclear Bank Attn: Corporate Actions 14201 Dallas Pkwy Floor 12 - Corp Actions Dept Dallas TX 75254
JP Morgan Chase Bank/Euroclear Bank Attn: Sachin Goyal Corporate Actions 500 Stanton Christiana Rd Ops 4, Floor 02 Newark DE 19713-2107
JP Morgan Chase Bank/IA Attn: Marcin Bieganski Corporate Actions 14201 Dallas Pkwy 12th Floor Dallas TX 75254
JP Morgan Clearing Corp Attn: John Fay 500 Stanton Christiana Road Ops 4, Floor 03 NCC5 Newark DE 19713-2107
JP Morgan Clearing Corp Attn: Marcin Bieganski 14201 Dallas Pkwy 12th Floor Dallas TX 75254
LEK Securities Corporation Attn: Corporate Actions One Liberty Plaza 52nd Floor New York NY 10006
LEK Securities Corporation Attn: Daniel Hanuka Corporate Actions 140 Broadway 29th Floor New York NY 10005
LPL Financial Corporation Attn: Jacqui Teague & Kristin Kennedy Corporate Actions 1055 LPL Way Fort Mill SC 29715
In re: Francesca's Holdings Corporation, et al.
Case No. 20-13076 (BLS) Page 1 of 2

https://cases.stretto.com/public/X111/10669/PLEADINGS/1066912172080000000010.pdf

NEW Annual Meeting of Shareholders
Proxy Statement
2020
https://www.sec.gov/Archives/edgar/data/19617/000119312520098865/d822689ddef14a.htm

Lock-Up Agreements 

Lock-Up Agreements  Avantor, Inc.

Lock-Up Agreement
May 20, 2020

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC

As representatives of the several Underwriters
named in Schedule I to the Underwriting Agreement

c/o Goldman Sachs & Co. LLC
200 West Street
New York, NY 10282-2198

c/o J.P. Morgan Securities LLC
383 Madison Avenue
New York, New York 10179

Re: Avantor, Inc. - Lock-Up Agreement    https://www.sec.gov/Archives/edgar/data/886982/000110465920067766/tm2021312d1_ex-8.htm

House Hearing, 116th Congress ? HOLDING MEGABANKS ACCOUNTABLE: A REVIEW OF GLOBAL SYSTEMICALLY IMPORTANT BANKS 10 YEARS AFTER THE FINANCIAL CRISIS
116th Congress (2019-2020)

https://www.congress.gov/event/116th-congress/house-event/LC64813/text?s=1&r=5  

HOLDING MEGABANKS ACCOUNTABLE: A REVIEW
OF GLOBAL SYSTEMICALLY IMPORTANT BANKS
10 YEARS AFTER THE FINANCIAL CRISIS
HEARING
BEFORE THE
COMMITTEE ON FINANCIAL SERVICES
U.S. HOUSE OF REPRESENTATIVES
ONE HUNDRED SIXTEENTH CONGRESS
FIRST SESSION
APRIL 10, 2019
Printed for the use of the Committee on Financial Services
Serial No. 116?18 
https://www.congress.gov/116/chrg/CHRG-116hhrg37449/CHRG-116hhrg37449.pdf  (680 pages)

NEW   The Statement of the Chinese Embassy in the United States for Taking Over the Consular Jurisdiction of the Consulate-General in Houston
2020/07/24

On July 21, the US abruptly demanded that the Chinese Consulate-General in Houston cease all operations and events within a time limit. This decision seriously violates international law, basic norms governing international relations and the Consular Convention Between China and the United States. China strongly condemns and firmly opposes this move that sabotages China-US relations, and urges the US side to immediately revoke its erroneous decision.

The Chinese Embassy and Consulates-General in the United States have always been committed to the healthy and stable development of China-US relations, to China-US exchanges and cooperation and to the two peoples' friendship. The US move has seriously damaged the regular exchanges and cooperation between the people of the southern part of the United States and China and their right for consular services from the Chinese government. It is completely against the people's will.

Taking into account of the desire and needs of the southern part of the US for continued exchanges and cooperation with China and the practical difficulties that may come up, the Chinese Embassy in the United States will temporarily take over the work of the Consulate-General in Houston, and continue the various services for the people in the consular district.  http://www.china-embassy.org/eng/zmgxss/t1800766.htm  NOTE: Actually, China is controlling the US Embassy sites. jt
    

Book Runners  2020 NEW

INTERESTING    NEW

 JPMorgan Chase have been indicted  fourth criminal probe of the bank in the past 8 years by the U.S. Department of Justice

Andrew George Tomlinson NEW

NEW Portuguese Banker Named in Angola Fraud Case Is Found Dead
Prosecutors called him a suspect in probe of alleged money laundering by ex-president?s daughter
A private-banking director at EuroBic apparently hanged himself, Lisbon police said.

PHOTO: PATRICIA DE MELO MOREIRA/AGENCE FRANCE-PRESSE/GETTY IMAGES
By Patricia Kowsmann and Margot Patrick
Updated Jan. 23, 2020 7:05 pm ET

A Portuguese banker was found dead after being identified as a suspect in a fraud case against Isabel dos Santos, the daughter of Angola?s former president.

Nuno Ribeiro da Cunha, 45 years old, apparently hanged himself and had attempted suicide earlier this month, Lisbon police said. His death came after Angola prosecutors identified him Wednesday at a press conference in Luanda, the African nation?s capital, as a suspect in a wide-ranging investigation of alleged money laundering and fraud by Ms. dos Santos.

She and three business associates were also named suspects.

Mr. Ribeiro da Cunha was a private-banking director at EuroBic, a Portuguese bank that Ms. dos Santos partly owns, according to press reports in Portugal. His body was discovered Wednesday in a garage in an upscale Lisbon neighborhood, police said in a statement Thursday. Representatives for EuroBic didn?t respond to a request for comment.

Prosecutors in Angola allege that Ms. dos Santos and others carried out transactions with government-owned companies that resulted in a $1.14 billion loss for the state. In December, an Angola court froze her assets in the country, according to a court order reviewed by The Wall Street Journal.
https://www.wsj.com/articles/portuguese-banker-named-in-angola-fraud-case-is-found-dead-11579823198

BlackRock,Inc   Updated



2000 PENNSYLVANIA AVE., NW
WASHINGTON, D.C.
20006-1888
TELEPHONE: 202.887.1500
FACSIMILE: 202.887.0763
WWW.MOFO.COM
MORRISON FOERSTER LLP

BEIJING , BERLIN , BOSTON ,
BRUSSELS, DENVER, HONG KONG ,
LONDON, LOS ANGELES, NEW YORK,
NORTHERN VIRGINIA, PALO ALTO,
SAN DIEGO, SAN FRANCISCO, SHANGHAI,
SINGAPORE, TOKYO, WASHINGTON,D.C.

Writer's Direct Contact
+1 (202) 778.1611
MDunn@mofo.com
1934 Act/Rule 14a-8

February 11, 2020

VIA E-MAIL (shareholderproposals@sec.gov)
Office of Chief Counsel
Division of Corporation Finance
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549

Re: JPMorgan Chase & Co.
Shareholder Proposal of Thomas Strobhar

Dear Ladies and Gentlemen:
This letter concerns the request, dated January 13, 2020 (the ?Initial Request Letter?),
that we submitted on behalf of our client JPMorgan Chase & Co., a Delaware corporation (the
?Company?), seeking confirmation that the staff (the ?Staff?) of the Division of Corporation
Finance of the U.S. Securities and Exchange Commission (the ?Commission?) will not
recommend enforcement action to the Commission if, in reliance on Rule 14a-8 under the
Securities Exchange Act of 1934 (the ?Exchange Act?), the Company omits the enclosed
shareholder proposal (the ?Proposal?) and supporting statement (the ?Supporting Statement?)
submitted by Thomas Strobhar (the ?Proponent?) from the Company?s proxy materials for its
2020 Annual Meeting of Shareholders (the ?2020 Proxy Materials?).

We submit this letter on behalf of the Company to supplement the Initial Request Letter
and to reflect a recent Staff position regarding the application of Rule 14a-8(i)(10). We also
renew our request for confirmation that the Staff will not recommend enforcement action to the
Commission if the Company omits the Proposal from its 2020 Proxy Materials in reliance on
Rule 14a-8. We have concurrently sent copies of this correspondence to the Proponent?s
Representative.

Pursuant to the guidance provided in Section F of Staff Legal Bulletin 14F (Oct. 18,
2011), we ask that the Staff provide its response to the Initial Request letter and this
*** FISMA & OMB Memorandum M-07-16
82363104-01-18  https://www.sec.gov/divisions/corpfin/cf-noaction/14a-8/2020/strobharjpmorgan031320-14a8.pdf
 

On October 16, 2020, Paya Holdings Inc. (Paya or Parent) and FinTech Acquisition Corp. III (FinTech) announced that the previously announced transactions contemplated by the Merger Agreement (as defined below) were consummated. In connection with the closing of the merger, the registrant changed its name from FinTech Acquisition Corp. III Parent Corp. to Paya Holdings Inc.  https://www.sec.gov/Archives/edgar/data/1819881/000121390020032828/ea128795-8ka_payaholdings.htm

This Purchase Agreement, dated as of November 30, 2020 (this ?Agreement?), is made and entered into by and between Kaiser Aluminum Corporation, a Delaware corporation (Buyer), and Alcoa Corporation, a Delaware corporation (?Seller?). https://www.sec.gov/Archives/edgar/data/811596/000119312520305767/d46303dex21.htm
 

 NEW  John David McAfee was a British-American computer programmer.In 1987, he wrote the first commercial anti-virus software, founding McAfee Associates to sell his creation. He resigned in 1994 and sold his part of the company. Years later he became the company's most vocal critic. He urged consumers to uninstall the company's anti-virus software, which he characterized as bloatware.

After leaving McAfee Associates, John McAfee founded the companies Tribal Voice (makers of the PowWow chat program), QuorumEx, and Future Tense Central, among others, and was involved in leadership positions in the companies Everykey, MGT Capital Investments, and Luxcore, among others. He resided in Belize for years, but returned to the United States in 2013.In October 2020, McAfee was arrested in Spain over U.S. tax evasion charges. U.S. federal prosecutors brought criminal and civil charges alleging that McAfee had failed to pay income taxes over a four-year period.On 23 June 2021, John McAfee was found dead hanging in his prison cell near Barcelona after the Spanish National Court authorized his extradition to the His death generated a lot of talk about the possibility that he was murdered. Janice McAfee,his wife, said she did not believe McAfee committed suicide, and that the suicide note was a forgery. Source: Wikipedia

Why did John McAfee urge consumers to uninstall the McAfee anti-virus software?
    
He disavowed the company's continued use of his name in branding, a practice that has  persisted in spite of a short-lived corporate rebrand attempt under Intel ownership. I can understand why. Without Mr. McAfee's name.....It would be just another anti virus company.  It's strange how I learned about Mr. McAfee.-JT

For his part, Dimon displayed his customary confidence as he discussed his investment plans this month, saying he would need to “spend a few bucks” to beat competitors old and new. At age 65 — and with a record of often delivering more than he has promised — Dimon seems ready to hang around for the several years it will take to see if his tech-spending strategy is on target.

For the rest of us, this means investing in banks is only going to get more difficult. It will no longer be enough simply to know whether managements can assess credit risks, allocate capital or inspire sales forces. Bankers are becoming software engineers nowadays, and it could be a while before we find out how many of them are up to the job.
https://www.ft.com/content/dbfb2dca-4bb4-4697-9b4e-b84a5fa8b48e

Knowing a little about the background of some of the dead bankers, I typed the words "software engineer found dead" in the search box.John McAfee's name was first on the list: https://www.google.com/search?q=software+engineer+found+dead&ie=utf-8&oe=utf-8&client=firefox-b-1


      •      We released McAfee® Family Protection iPhone, iPod touch and iPad Edition, providing strong parental controls to keep children safe when they are browsing the Internet on an Apple mobile device.
 
      •      We launched McAfee® Internet Security for Mac and McAfee® Family Protection for Mac. McAfee® Internet Security empowers consumers to surf the web safely, while McAfee® Family Protection allows parents to filter inappropriate content from their children.
 
      •      We launched McAfee® Identity Protection, one of the most comprehensive and easy to use identity protection services on the market.
    
      •      We released McAfee® Enterprise Mobility Management (McAfee® EMMtm) 9.0 platform that is based on the Trust Digital platform we acquired during the year. The McAfee® EMMtm platform delivers a fully McAfee-branded and enhanced enterprise mobility solution, increases support for iPhone and other iOS devices, increases Android support and provides greater control for administrators.
 
      •      As part of our Security Connected initiative, we released McAfee® Endpoint Security 9 providing strong endpoint and data protection for any device, to secure corporate assets without impeding critical systems and processes. Many organizations deploy security solutions from multiple vendors, which increase the cost of security and negatively impacts effectiveness. McAfee® Endpoint Security 9 delivers “faster-time-to-protection” through intelligent connected security allowing businesses to experience the full benefits of consumerization of IT, virtualization through McAfee Management Optimized for Virtualized Environments AntiVirus (MOVE), a security solution specifically designed for virtual environments, and optimized performance with faster scanning and less memory requirements.
         
      •      We formed strategic relationships with numerous new partners including, but not limited to, the following:
        
      •      We entered into a partnership with Facebook, Inc. (“Facebook”). Under the terms of the partnership, McAfee is Facebook’s exclusive provider of consumer security software, and Facebook users will be eligible for a six-month subscription of the McAfee® Internet Security Suite software. Following the six-month period, Facebook users will be eligible for special discount subscription pricing. McAfee Internet Security Suite software protects users’ PCs from online threats, viruses, spyware, hackers, online scammers, identity thieves and other cybercriminals, and includes award-winning McAfee® SiteAdvisor® site rating technology.
 https://www.sec.gov/Archives/edgar/data/890801/000095012311019014/d75827e10vk.htm

In 2011, McAfee was acquired by Intel and operated as a part of a business unit of Intel. Since then, McAfee has grown from $1.9 billion in net revenue in 2011 to $2.6 billion in 2019. Recognizing the growth drivers that would power a surge in our business, in 2017, our Sponsors acquired a controlling interest in McAfee, accelerating our transformational journey to optimize and reinforce our cybersecurity platform. Over the last several years, we have invested in new routes to market and partnerships for the consumer business, and rationalized our enterprise portfolio by divesting our network firewall, email, and vulnerability management businesses to reorient our focus and resources to products that align with our device-to-cloud strategy. In addition to organic initiatives, we added new capabilities and products through several strategic acquisitions. In 2018, we completed our acquisitions of TunnelBear, a consumer VPN provider, and Skyhigh, a leader in CASB and a technology that would benefit from remote workers connecting directly to cloud applications. We believe both these acquisitions have added key competencies in high-growth verticals oriented around remote work within the cybersecurity market. In 2019, we acquired Uplevel Security, a predictive security platform that helps security teams

extract meaningful insights data, and NanoSec, a service identity-based approach to hybrid and multi-cloud security space. More recently, we acquired LightPoint Security, a browser isolation platform that protects users from malware, ransomware and cyberattacks. In parallel with these acquisitions, we launched MVISION, the cloud-native family of our platform that offers threat defense, management, automation, and orchestration across devices, networks, clouds (IaaS, PaaS, and SaaS), and on-premises environments. Our investments in our platform and strategy have reinforced our market leadership, and we intend to continue innovating to protect our customers. . . . 
10.1*            First Lien Credit Agreement, dated as of September 29, 2017, among McAfee, LLC, McAfee Finance 2, LLC, and Morgan Stanley Senior Funding, Inc.,

JPMorgan Chase Bank N.A., Goldman Sachs Bank USA, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, Citigroup Global Markets Inc., Deutsche Bank

Securities Inc., RBC Capital Markets, UBS Securities LLC, and Mizuho Bank, Ltd.
    
10.2*            Amendment No. 1 to First Lien Credit Agreement, dated as of January 3, 2018, entered into by and among McAfee, LLC, a Delaware limited liability

company, Morgan Stanley Senior Funding, Inc., and the Initial Incremental Term Lenders party thereto.
    
10.3*            Amendment No. 2 to First Lien Credit Agreement, dated as of November 1, 2018, entered into by and among McAfee, LLC, the Guarantors party thereto, the

Lenders party thereto, Morgan Stanley Senior Funding, Inc., and Morgan Stanley Bank, N.A..
    
10.4*            Amendment No. 3 to First Lien Credit Agreement, dated as of June 13, 2019, by and among McAfee, LLC, the Guarantors party thereto, the Lenders party

thereto, Morgan Stanley Senior Funding, Inc., and Bank of America, N.A.
    
10.5*            Second Lien Credit Agreement, dated as of September 29, 2017, among McAfee, LLC, McAfee Finance 2, LLC, JPMorgan Chase Bank N.A., Morgan Stanley Senior

Funding, Inc., Goldman Sachs Bank USA, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, Citigroup Global Markets Inc., Deutsche Bank Securities

Inc., RBC Capital Markets, UBS Securities LLC, and Mizuho Bank, Ltd.
    
10.6*            Amendment No. 1 to Second Lien Credit Agreement, dated November 1, 2018, by and among McAfee, LLC, the Guarantors party thereto, the Lenders party

thereto, and JPMorgan Chase Bank, N.A.
    
10.7*            Amendment No. 2 to Second Lien Credit Agreement, dated June 13, 2019, by and among McAfee, LLC, the Guarantors party thereto, the Lenders party

thereto, and JPMorgan Chase Bank N.A.
https://www.sec.gov/Archives/edgar/data/1783317/000119312520256766/d89887ds1.htm

Having been ban from Facebook /I take it they didn't like my Geoengineering group.... It has been completely taken over by  people unknown to me, and my name is not anywhere on the group postings.  How do I know this I have many friends and family members who do have access/beings members who I had invited to join the group.

Facebook is evil. that's the only word to describe it. Many are unaware that they have been found guilty of selling/giving facebook members information away. All I can say is you put all the big snakes in banking together with Facebook....and it ups the chance that John David McAfee was murdered.   -Jan Tetstone

 

2021

NEW  JPMorgan Chase & Co. is marketing big blocks of office space in Manhattan as companies re-evaluate their need for real estate amid the Covid-19 pandemic, according to people with knowledge of the matter.

The New York-based bank is looking to sublet just under 700,000 square feet (65,000 square meters) at 4 New York Plaza in the Financial District, and more than 100,000 square feet at 5 Manhattan West in the Hudson Yards area, said the people, who asked not to be named because the matter is private. Brokers at Jones Lang LaSalle Inc. are marketing the space.

https://www.bloomberg.com/news/articles/2021-03-02/jpmorgan-seeks-to-reduce-office-space-in-two-manhattan-towers
 

NEW ZILLOW GROUP, INC.
$1,000,000,000
Class C Capital Stock
($0.0001 par value)
Equity Distribution Agreement
February 17, 2021...
Zillow Group, Inc., a corporation organized under the laws of Washington (the ?Company?), confirms its agreement (this Agreement) with Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Evercore Group L.L.C., J.P. Morgan Securities LLC and Zelman Partners LLC (each, a Manager, and collectively, the Managers) as follows:   https://www.sec.gov/Archives/edgar/data/1617640/000119312521046595/d108360dex11.htm

2021  bill gates is now the US? biggest farmland owner

2021- Blackrock  

Benjamin de Rothschild Dead at 57.

Common Stock of The Boeing Company    JPMorgan Structured Investments —


Press Release
SEC Issues Amendments, Seeks Public Comment on Holding Foreign Companies Accountable Acthttps://www.sec.gov/news/press-release/2021-53?utm_medium=email&utm_source=govdelivery

SECURITIES AND EXCHANGE COMMISSION
17 CFR PARTS 249 and 274
[Release No. 34-91364; IC-34227; File No. S7-03-21]
RIN 3235-AM84
...office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight
Board has determined it is unable to inspect or investigate completely because of a position taken
by an authority in the foreign jurisdiction, for each year in which the registrant is so identified,
must disclose:
(1) That, for the immediately preceding annual financial statement period, a
registered public accounting firm that the PCAOB was unable to inspect or investigate
completely, because of a position taken by an authority in the foreign jurisdiction, issued an audit
report for the registrant;
(2) The percentage of shares of the registrant owned by governmental entities in the
foreign jurisdiction in which the registrant is incorporated or otherwise organized;
(3) Whether governmental entities in the applicable foreign jurisdiction with respect
to that registered public accounting firm have a controlling financial interest with respect to the
registrant;
(4) The name of each official of the Chinese Communist Party who is a member of
the board of directors of the registrant or the operating entity with respect to the registrant; and (5) Whether the articles of incorporation of the registrant (or equivalent organizing
document) contains any charter of the Chinese Communist Party, including the text of any such
charter.
* * * * *
By the Commission.
Dated: March 18, 2021
Vanessa A. Countryman,
Secretary

https://www.sec.gov/rules/interim/2021/34-91364.pdf

Ever wonder why some on/off line media charges so much for 'NEWS'

Inside JPMorgan's $30 billion push for racial equity in the economy ? and within its own walls
Marguerite Ward and Allana Akhtar
Mar 22, 2021, 12:00 PM
jamie dimon jp morgan diversity 2x1

In the wake of George Floyd's killing, JPMorgan CEO Jamie Dimon told executives to be bold in drafting plans to help end racial inequity. https://www.businessinsider.com/jpmorgan-racial-equity-economy-within-own-walls-2021-3

 NEW    JPMORGAN CHASE  ORGANAZATIONAL CHART

 EX-21 4 corp10k2020exhibit21.htm EX-21

Exhibit 21
JPMorgan Chase & Co.

List of subsidiaries
While there are a number of subsidiaries that are required to be reported for various purposes to bank regulators, the following is a list of JPMorgan Chase & Co.?s significant legal entity subsidiaries as of December 31, 2020, as defined by SEC rules. The list includes the parent company of significant subsidiaries even if the parent company did not meet the definition of a significant subsidiary. Excluded from the list are subsidiaries that, if considered in the aggregate, would not constitute a significant subsidiary under SEC rules as of December 31, 2020.
Also included in the list are certain subsidiaries that have been designated as material legal entities for resolution planning purposes under the Dodd-Frank Act that did not meet the definition of a significant subsidiary under SEC rules.

December 31, 2020
Name Organized Under
The Laws Of
JPMorgan Chase Bank, National Association United States
Paymentech, LLC United States
J.P. Morgan International Finance Limited United States
J.P. Morgan Bank Luxembourg S.A. Luxembourg
JPMorgan Securities Japan Co., Ltd. Japan
J.P. Morgan Capital Holdings Limited United Kingdom
J.P. Morgan Securities PLC United Kingdom
J.P. Morgan AG Germany
JPMorgan Chase Holdings LLC United States
J.P. Morgan Services India Private Limited India
JPMorgan Asset Management Holdings Inc. United States
JPMorgan Distribution Services, Inc. United States
JPMorgan Asset Management International Limited United Kingdom
JPMorgan Asset Management (UK) Limited United Kingdom
JPMorgan Asset Management Holdings (Luxembourg) S.? r.l. Luxembourg
JPMorgan Asset Management (Europe) S.? r.l. Luxembourg
J.P. Morgan Investment Management Inc. United States
J.P. Morgan Broker-Dealer Holdings Inc. United States
J.P. Morgan Securities LLC United States
https://www.sec.gov/Archives/edgar/data/0000019617/000001961721000236/corp10k2020exhibit21.htm

 Report on Company's Involvement with Business Roundtable "Statement on the Purpose
of a Corporation"
Whereas, our Company's Chief Executive Officer (CEO) Jamie Dimon signed a Business
Roundtable (BRT) "Statement on the Purpose of a Corporation," (Statement) in August 2019,
committing our Company to serve all stakeholders - including employees, customers, supply
chains, communities where we operate- and shareholders. 1
Existing governance documents evolved in the still legally mandated system of shareholder
primacy, but the Statement articulates a new purpose, moving away from shareholder primacy
and including commitment to all stakeholders. The Statement may or may not be beneficial to
associate with our brand, but as company policy, it may conflict with existing corporate law
unless, and possibly even if, it is integrated into Company governance documents, including
bylaws, articles of incorporation, and/or committee charters.
A stakeholder model would shift corporate focus from value creation to concerns generally
referred to as Environmental, Social and Governance (ESG) issues. CEO Dimon works hard to
indicate Company commitment to such causes, touting the Company's commitments to
sustainable climate policies for our companies and others,2 and to ESG policies such as carbon
taxes and surface-characteristic diversity achieved through compensation-based quotas. 3
For consistency and the avoidance of legal risk, our Company should not endorse positions with
which it has not or cannot conform itself. We currently engage in actions that seem to contradict
the Statement. Just two examples:
And
Our Company has recently been required to pay a nearly $1 billion fine as
punishment for its manipulation of commodity markets over many years, injuring
the public for unearned private gain.
4
Our Company has endangered the lives and health of employees, their fami lies
and community members, and undermined health-care resources in many
communities, by demanding early return of employees to offices that then
experienced outbreaks, and by failing to fully inform employees of infections at
their facilities. 5

And while the Statement implies accountability to stakeholders, without clear mechanjsms in
place to implement the Purpose, this broadened standard could reduce real accountability to
shareholders and all stakeholders generally and in effect, result in genuine accountability to
none. This would violate both the letter andthe spirit of the Statement.


Resolved: Shareholders request our Board prepare a report based on a review of the B RT
Statement of the Purpose of a Corporation, signed by our Chief Executive Officer, and provide
the board's perspective regarding.how our Company's governance and manage1nent systems.can
be altered to fully implement the Staternentof Purpose, or, in the aHernative, what our Company
should do if the Statement cannotbe reconciled with current practices and corninitnients. The
report may include the Board1s perspective on benefits and drawbacks of the options considered,
as well as the Board's recommendations.
Supporting Statement
Given the Company's inconsistent actions related to the Statement of Purpose, the Board might
after full investigation consider the option of rescinding the CE01s signature and Company's
name from that document. ...

Ownership Verification
To demonstrate eligibility to submit a proposal, Rule 14a-8(b) provides that a shareholder must
submit sufficient proof that it has continuously held at least $2,000 in market value, or 1%, of a
company?s shares entitled to vote on the proposal for at least one year preceding and including the
date the proposal was submitted.
JPMC?s stock records do not indicate that the Proponent is the record owner of sufficient shares to
satisfy this requirement. In addition, we have not received proof that the Proponent has satisfied the
applicable ownership requirements as of November 23, 2020, the date the Proposal was submitted
to JPMC. Accordingly, the Proponent has not demonstrated its eligibility to submit the Proposal.Material

Non-Public Information (MNPI), also known as inside information, is information
not known by the public but if it were, would likely affect the market price of the securities
issued by a company (ours or any other) or be considered important to a reasonable
investor in deciding to buy or sell those securities.
Buying or selling securities while in possession of MNPI that is acquired by virtue of
Supplier?s relationship with the firm is strictly prohibited, as is the communication of that
information to others, whether expressly or by making a recommendation for the purchase
or sale of securities based upon that information.
MNPI must be safeguarded and should only be shared with those who have a business
need for knowing the information. Need-to-know is where such information is necessary to
carry out one?s job responsibilities and the sharing is in connection with fulfilling those
responsibilities to the firm. [excerts-Click link for full document:
https://www.sec.gov/divisions/corpfin/cf-noaction/14a-8/2021/ncpprjpmorgan011221-14a8-incoming.pdf     NEW

NEW The administration also plans to nominate Jen Easterly, a former NSA intelligence officer who helped stand up U.S. Cyber Command more than a decade ago, to head the Cybersecurity and Infrastructure Security Agency, according to U.S. officials, who spoke on the condition of anonymity to describe nominations that are not yet public. ... Easterly, a managing director at Morgan Stanley and global head of the firm?s cybersecurity fusion center, was one of the ?Four Horsemen? ? a quartet of military officers asked by Alexander to make the case to create Cyber Command. One of the other four, then-Col. Paul Nakasone, is now a four-star general heading both Cyber Command and the NSA.

Easterly, like Neuberger, is close to Nakasone. She served on the Biden transition team handling cyber policy issues.   https://www.msn.com/en-us/news/politics/biden-administration-plans-to-name-former-senior-nsa-officials-to-white-house-cyber-position-and-head-of-cisa/ar-BB1fy11T?ocid=iehp&li=BBnb7Kz


NEW  J.P. Morgan provides the following products and services to help you reach your investment goals

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment advisor, member FINRA(Opens Overlay) and SIPC(Opens Overlay). Annuities are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

"Chase Private Client" is the brand name for a banking and investment product and service offering, requiring a Chase Private Client Checking account.

    About Chase Security(Opens Overlay) JPMorgan Chase & Co. Media Center Careers Site map Privacy & Security Terms of use Accessibility AdChoices(Opens Overlay) Give feedback Member FDIC Equal Housing Lender   http://https://www.chase.com/personal/investments/learning-and-insights/article/tmt-february-twenty-four-twenty-two-daily


Press Release December 2021
JPMorgan Admits to Widespread Recordkeeping Failures and Agrees to Pay $125 Million Penalty to Resolve SEC Charges 
https://www.sec.gov/news/press-release/2021-262

Florida Division of Corporations

    Department of State Division of Corporations Search Records Search By Entity Name

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Entity Name List
Corporate Name     Document Number     Status
CHASE INSURANCE AGENCY SERVICES, INC.     F99000002954     CROSS RF
CHASE INSURANCE ASSOCIATES, INC.     G24561     INACT
CHASE INSURANCE OF BROWARD, INC.     524960     INACT
CHASE INSURANCE GROUP, INC.     P00000048430     INACT
CHASE INSURANCE LIFE COMPANY     814902     INACT
CHASE INSURANCE LIFE AND ANNUITY COMPANY     824774     INACT
CHASE INSURANCE SERVICES, INC.     P09000052668     INACT
CHASE INTELLIGENCE AGENCY, INC.     L59244     INACT
CHASE INTERNATIONAL, INC.     566217     INACT
CHASE INTERNATIONAL LLC     L17000133572     INACT/UA
CHASE INTERNATIONAL,INC     P11000075816     INACT
CHASE INTERNATIONAL LLC.     W19000058588     Active
CHASE INTERNATIONAL 91, LLC     L21000457180     Active
CHASE INTERNATIONAL FINANCIAL CONSULTANTS, INC.     S54176     INACT
CHASE INTERNATIONAL GROUP INC.     P02000059583     INACT
CHASE INTERNATIONAL IMPORT & EXPORT, INC.     K40984     INACT
CHASE INTERNATIONAL MARKETING, INC.     F53358     INACT
CHASE INTERNATIONAL MEDICAL PARTNERS LLC     L07000103762     INACT
CHASE INTERNATIONAL MERGERS & ACQUISITIONS LLC     L10000123615     INACT
CHASE INTERNATIONAL OFFICE LLC     L17000226759     INACT
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Foreign Profit Corporation

CHASE INSURANCE AGENCY SERVICES, INC.
Cross Reference Name CHASE INSURANCE AGENCY, INC.
Filing Information
Document Number
F99000002954
FEI/EIN Number
39-1610807
Date Filed
06/09/1999
State
WI
Status
ACTIVE
Last Event
REINSTATEMENT
Event Date Filed
06/05/2018
Principal Address
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Changed: 04/30/2020
Mailing Address
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Changed: 04/30/2020
Registered Agent Name & Address C T CORPORATION SYSTEM
1200 SOUTH PINE ISLAND ROAD
PLANTATION, FL 33324

Name Changed: 06/05/2018
Officer/Director Detail Name & Address

Title Director

Katz, Ari Lee
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Director

Harvey, Christopher L
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Director

Tepper, D. Eric
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Director

Pantaleo, Laura Ann
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title President

Pantaleo, Laura Ann
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Director

Massey, Robert T
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Director

Thakkar, Vishal V
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Secretary

Glynn, Julie K.
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title Treasurer

Santo, Jason M
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Title VP

Weisman, Melissa
111 E. Wisconsin Ste. 1250
Milwaukee, WI 53202

Annual Reports
Report Year    Filed Date
2020     04/30/2020
2021     04/26/2021
2021     08/11/2021

Document Images
08/11/2021 -- AMENDED ANNUAL REPORT     View image in PDF format
04/26/2021 -- ANNUAL REPORT     View image in PDF format
04/30/2020 -- ANNUAL REPORT     View image in PDF format
04/13/2019 -- ANNUAL REPORT     View image in PDF format
06/05/2018 -- REINSTATEMENT     View image in PDF format
04/16/2016 -- ANNUAL REPORT     View image in PDF format
04/09/2015 -- ANNUAL REPORT     View image in PDF format
04/09/2014 -- ANNUAL REPORT     View image in PDF format
04/12/2013 -- ANNUAL REPORT     View image in PDF format
04/17/2012 -- ANNUAL REPORT     View image in PDF format
04/29/2011 -- ANNUAL REPORT     View image in PDF format
02/22/2010 -- ANNUAL REPORT     View image in PDF format
04/06/2009 -- ANNUAL REPORT     View image in PDF format
04/11/2008 -- ANNUAL REPORT     View image in PDF format
04/23/2007 -- ANNUAL REPORT     View image in PDF format
04/26/2006 -- ANNUAL REPORT     View image in PDF format
06/09/2005 -- Name Change     View image in PDF format
04/29/2005 -- ANNUAL REPORT     View image in PDF format
01/27/2004 -- ANNUAL REPORT     View image in PDF format
05/19/2003 -- ANNUAL REPORT     View image in PDF format
08/21/2002 -- ANNUAL REPORT     View image in PDF format
08/08/2001 -- ANNUAL REPORT     View image in PDF format
08/03/2000 -- ANNUAL REPORT     View image in PDF format
02/29/2000 -- Name Change     View image in PDF format
06/09/1999 -- Foreign Profit     View image in PDF format


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Events

CHASE INSURANCE AGENCY SERVICES, INC.
Document Number     F99000002954
Date Filed     06/09/1999
Effective Date     None
Status     Active

Event Type     Filed Date     Effective Date     Description
NAME CHANGE AMENDMENT     06/09/2005         OLD NAME WAS : BANC ONE INSURANCE AGENCY, INC.
NAME CHANGE AMENDMENT     02/29/2000         OLD NAME WAS : BANC ONE INSURANCE SERVICES CORPORATION

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NEW Our Berried U.S. Treasury
Asleep in Seattle, Double Mint Gumshoes are No Longer Clueless in Fort Wayne
4/02/2021   http://www.frankkryder.com/index.html  Note: I will do a follow-up, of my own research, for "Our Berried U.S. Treasury. jt   Raytheon

Citigroup worldwide      NEW

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION   NEW

JPMorgan board gives CEO 1.5 million stock options to stick around.

JPMorgan Chase & Co said on Tuesday it has awarded Chief Executive Officer Jamie Dimon 1.5 million options in the form of stock appreciation rights. "This special award reflects the board's desire for Mr. Dimon to continue to lead the firm for a further significant number of years," the bank's board said in a filing. The reward will vest so long as Dimon remains employed by JPMorgan, or if he leaves the bank for government office or because of a disability, according to the filing                                                           .[ 2021 Verizon Media. All rights reserved.] https://finance.yahoo.com/quote/JPM/

State of California lobbists 2019-2020

Big banks win dismissal

Michelle Avan      Bank of America banker murdered

Sajid Javid  JPMORGAN

BlackRock Thinks

One has only to read the Company history posted by individual companies [banks] to see that there is something wrong with The Federal Reserves Reporting of individual bank history..... US Congress should vote to do away with the whole Federal Reserve System.... And yes, since it was the US Congress who created the system-the US Congress has the power to UN-CREATE the Federal Reserve System.

And in my American opinion "the sooner the better."  Jan Tetstone  9/29/2021

Organization Hierarchy  bank of America corp

Organization Hierarchy Citi Group Inc

Organization Hierarchy jpmcc

Organization Hierarchy wells fargo & company

https://www.ffiec.gov/npw/Institution/TopHoldings

Special Bank official found dead in Dhaka United News of Bangladesh . Dhaka | Published: 20:54, Sep 21,2021 | Updated: 20:56, Sep 21,2021 A bank official was found dead in the city?s Sabujbagh area on Tuesday. The deceased is Shawkat Hossain, 35, senior officer of Basic Bank of Fakirapool branch. Inspector Bachchu Mia, in-charge of Dhaka Medical College and Hospital police camp, said Shawkat used to live on the fifth floor of a nine-story building. He was found lying on a road in front of the building at about 11:00am, he said. Later, he was taken to the hospital where doctors declared him dead. It is not clear yet how the bank official died, he said. Family sources said he had left home for going to office. http://www.newagebd.net/article/149740/bank-official-found-dead-in-dhaka


Rod Johnston   Absa bank

NEW Press Release
JPMorgan Admits to Widespread Record-Keeping Failures and Agrees to Pay $125 Million Penalty to Resolve SEC Charges
Firm also agrees to implement significant improvements to its compliance controls

FOR IMMEDIATE RELEASE
2021-262

Washington D.C., Dec. 17, 2021

The Securities and Exchange Commission today announced charges against J.P. Morgan Securities LLC (JPMS), a broker-dealer subsidiary of JPMorgan Chase & Co., for widespread and longstanding failures by the firm and its employees to maintain and preserve written communications. JPMS admitted the facts set forth in the SEC?s order and acknowledged that its conduct violated the federal securities laws, and agreed to pay a $125 million penalty and implement robust improvements to its compliance policies and procedures to settle the matter.

Since the 1930s, recordkeeping and books-and-records obligations have been an essential part of market integrity and a foundational component of the SEC's ability to be an effective cop on the beat. As technology changes, it's even more important that registrants ensure that their communications are appropriately recorded and are not conducted outside of official channels in order to avoid market oversight, said SEC Chair Gary Gensler.  Unfortunately, in the past we?ve seen violations in the financial markets that were committed using unofficial communications channels, such as the foreign exchange scandal of 2013. Books-and-records obligations help the SEC conduct its important examinations and enforcement work. They build trust in our system. Ultimately, everybody should play by the same rules, and today's charges signal that we will continue to hold market participants accountable for complying with our time-tested recordkeeping requirements.

As described in the SEC's order, JPMS admitted that from at least January 2018 through November 2020, its employees often communicated about securities business matters on their personal devices, using text messages, WhatsApp, and personal email accounts. None of these records were preserved by the firm as required by the federal securities laws. JPMS further admitted that these failures were firm-wide and that practices were not hidden within the firm. Indeed, supervisors, including managing directors and other senior supervisors  the very people responsible for implementing and ensuring compliance with JPMS's policies and procedures  used their personal devices to communicate about the firm?s securities business.

JPMS received both subpoenas for documents and voluntary requests from SEC staff in numerous investigations during the time period that the firm failed to maintain required records. In responding to these subpoenas and requests, JPMS frequently did not search for relevant records contained on the personal devices of its employees. JPMS acknowledged that its recordkeeping failures deprived the SEC staff of timely access to evidence and potential sources of information for extended periods of time and in some instances permanently. As such, the firm?s actions meaningfully impacted the SEC?s ability to investigate potential violations of the federal securities laws.

Recordkeeping requirements are core to the Commission?s enforcement and examination programs and when firms fail to comply with them, as JPMorgan did, they directly undermine our ability to protect investors and preserve market integrity, said Gurbir S. Grewal, Director of the SEC's Division of Enforcement. We encourage registrants to not only scrutinize their document preservation processes and self-report failures such as those outlined in today?s action before we identify them, but to also consider the types of policies and procedures JPMorgan implemented to redress its failures in this case.?

As today's order reflects, JPMorgan's failures hindered several Commission investigations and required the staff to take additional steps that should not have been necessary, said Sanjay Wadhwa, Deputy Director of Enforcement. This settlement reflects the seriousness of these violations. Firms must share the mission of investor protection rather than inhibit it with incomplete recordkeeping.

JPMS agreed to the entry of an order in which it admitted to the SEC?s factual findings and its conclusion that JPMS's conduct violated Section 17(a) of the Securities Exchange Act of 1934 and Rules 17a-4(b)(4) and 17a-4(j) thereunder, and that the firm failed reasonably to supervise its employees with a view to preventing or detecting certain of its employees aiding and abetting violations. JPMS was ordered to cease and desist from future violations of those provisions, was censured, and was ordered to pay the $125 million penalty. JPMS also agreed to retain a compliance consultant to, among other things, conduct a comprehensive review of its policies and procedures relating to the retention of electronic communications found on personal devices and JPMS?s framework for addressing non-compliance by its employees with those policies and procedures.

As a result of the findings in this investigation, the SEC has commenced additional investigations of record preservation practices at financial firms. Firms that believe that their record preservation practices do not comply with the securities laws are encouraged to contact the SEC at BDRecordsPreservation@sec.gov.

Separately, the Commodity Futures Trading Commission announced a settlement with JPMS and affiliated entities for related conduct.

The SEC's investigation, which is continuing, has been conducted by Joshua Brodsky, Zachary Sturges, Theresa Gue, Andrew Dean, Osman Nawaz, Adam Grace, John Enright, and Thomas P. Smith, Jr. of the New York Regional Office, and Laura K. Bennett, Christopher G. Margand, Margaret Y. Rubin, Sonia G. Torrico, and David A. Becker of the Home Office. The case is being supervised by Mr. Wadhwa, Richard R. Best, and Carolyn Welshhans.

###
Related Materials
SEC Order

https://www.sec.gov/news/press-release/2021-262?utm_medium=email&utm_source=govdelivery

Summary
1.The federal securities laws impose recordkeeping requirements on broker-dealers to ensure that they responsibly discharge their crucial role in our markets.  The Commission has long said that compliance with these requirements is essential to investor protection and the Commission?s efforts to further its mandate of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.

2.These proceedings arise out of the widespread and longstanding failure of JPMorgan employees throughout the firm, including those at senior levels, to adhere to certain of these essential requirements. These employees communicated both internally and externally via personal text messages, WhatsApp messages,and emails on their personal devices.

3.These written communications were sent and received by JPMorgan employees and included messages related to the securities business of the broker-dealer operated by JPMorgan . None of these written communications was maintained and preserved by  JPMorgan,
SEC Order https://www.sec.gov/litigation/admin/2021/34-93807.pdf

NEW  List of subsidiaries
While there are a number of subsidiaries that are required to be reported for various purposes to bank regulators, the following is a list of JPMorgan Chase & Co.’s significant legal entity subsidiaries as of December 31, 2020, as defined by SEC rules. The list includes the parent company of significant subsidiaries even if the parent company did not meet the definition of a significant subsidiary. Excluded from the list are subsidiaries that, if considered in the aggregate, would not constitute a significant subsidiary under SEC rules as of December 31, 2020.
Also included in the list are certain subsidiaries that have been designated as material legal entities for resolution planning purposes under the Dodd-Frank Act that did not meet the definition of a significant subsidiary under SEC rules.
                    
December 31, 2020
Name    Organized Under
The Laws Of
JPMorgan Chase Bank, National Association    United States
Paymentech, LLC    United States
J.P. Morgan International Finance Limited    United States
J.P. Morgan Bank Luxembourg S.A.    Luxembourg
JPMorgan Securities Japan Co., Ltd.    Japan
J.P. Morgan Capital Holdings Limited    United Kingdom
         J.P. Morgan Securities PLC    United Kingdom
J.P. Morgan AG     Germany
JPMorgan Chase Holdings LLC    United States
J.P. Morgan Services India Private Limited    India
JPMorgan Asset Management Holdings Inc.    United States
JPMorgan Distribution Services, Inc.    United States
JPMorgan Asset Management International Limited    United Kingdom
 JPMorgan Asset Management (UK) Limited    United Kingdom
 JPMorgan Asset Management Holdings (Luxembourg) S.à r.l.    Luxembourg
           JPMorgan Asset Management (Europe) S.à r.l.    Luxembourg
J.P. Morgan Investment Management Inc.    United States
J.P. Morgan Broker-Dealer Holdings Inc.    United States
J.P. Morgan Securities LLC    United States  

https://www.sec.gov/Archives/edgar/data/19617/000001961721000236/corp10k2020exhibit21.htm
 


 

174 Power Global has successfully issued a Green Bond, the proceeds from which will facilitate the financing and refinancing of new and existing solar projects. Moody’s Investors Service has assigned an Aa2 rating to the proposed backed senior unsecured US dollar green notes to be issued by 174 Power Global and guaranteed by Korea Development Bank.https://174powerglobal.com/company/

"In order to see how big banks and other big businesses are connected with Communist one should read how the American People were blind-sided right after WWII. "   jt

Proposed Repeal of Connally Reservation - A Matter for Concern Howard H. Boyle Jr. Follow this and additional works at: http://scholarship.law.marquette.edu/mulr  Part of the Law Commons

This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Law Review by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact megan.obrien@marquette.edu. Repository Citation Howard H. Boyle Jr., Proposed Repeal of Connally Reservation - A Matter for Concern, 43 Marq. L. Rev. 317 (1960). Available at: http://scholarship.law.marquette.edu/mulr/vol43/iss3/3 

https://scholarship.law.marquette.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=2871&context=mulr 

https://scholarship.law.marquette.edu/mulr/utm_source=scholarship.law.marquette.edu%2Fmulr%2Fvol43%2Fiss3%2F3&utm_medium=PDF&utm_campaign=PDFCoverPages

Seoul, October 14, 2021  J.P. Morgan is expanding its Commercial Banking business in South Korea to provide midcap companies with access to leading financial capabilities, a strong global network and deep market expertise. This marks the 19th country Commercial Banking has increased its footprint outside of the United States in less than three years to serve locally-headquartered, midcap companies.

?Korea is a very important market. We?ve been in Korea for more than 50 years and have deep local knowledge, global insights, and best in class solutions which uniquely positions us to support Korea's midcap companies and serve clients complex and cross-border needs for the long term, said Tae Jin Park, CEO of J.P. Morgan Korea. We will continue to invest in our domestic platform and remain dedicated to bringing J.P. Morgan's global financial solutions and expertise to local corporates.

J.P. Morgan Commercial Banking has named Min Kim to lead the new business, Corporate Client Banking & Specialized Industries (CCBSI), in South Korea. Kim brings more than 20 years of banking experience to J.P. Morgan, most recently as the Divisional Head of International Corporates at Standard Chartered Bank Korea for the last four years. As the new head of CCBSI Korea for J.P. Morgan, Kim will build a dedicated team of bankers and establish the new business presence in Korea to support clients with their treasury management, credit and investment banking needs.

We see great growth opportunities for midcap companies in key markets like Korea as these businesses look beyond their domestic market to grow. We?re investing in our business and our onshore capabilities to deliver the full breadth of the firm to help local midcap corporations realize their global growth ambitions,? said Pravin Advani, Head of CCBSI Asia-Pacific at J.P. Morgan.

Korea is the newest market in J.P. Morgan?s CCBSI global expansion effort announced in early 2019. While coverage is now extending to serve, Korea-headquartered companies, Commercial Banking continues serving their U.S. subsidiaries and subsidiaries of foreign-headquartered clients operating in South Korea. https://www.jpmorganchase.com/news-stories/jpmorgan-expands-commercial-banking-in-south-korea
 

Drew Miller  an associate at GreyLion Capital, a New York firm focused on growth-stage investments. GreyLion was spun out from the asset-management arm of Perella Weinberg Partners. Miller fell from the high-rise building Windsor Court, which is located on Lexington Avenue between East 31st and 32nd Streets.  NEW

Trump Media & Technology Group Corp. (“TMTG”) and Digital World Acquisition Corp. (Nasdaq: DWAC), today announced that Digital World Acquisition Corp. (“DWAC”) has entered into subscription agreements for $1 billion in committed capital to be received upon consummation of their business combination (the “PIPE”) from a diverse group of institutional investors.  https://www.sec.gov/Archives/edgar/data/0001849635/000119312521348593/d242442dex991.htm

more about Trump Media: https://www.sec.gov/Archives/edgar/data/1849635/000119312521348593/d242442dex992.htm

WORLD FUNDS TRUST -Perkins Capital Management, Inc. 2021
https://www.sec.gov/Archives/edgar/data/1396092/000138713121007857/perkins-485bpos_072921.htm

"In order to see how big banks and other big businesses are connected with Communist one should read how the American People were blind-sided right after WWII. "   jt

2022

 

 

 

 

  March 24, 2022-Investment banker Chris Forman has died.He was 48.Forman spent 18 years at Rothschild, rising to the ranks of managing director and head of its M&A practice.  He was regarded as one of the top oil and gas sector bankers in the country.In the past 12 months, he advised Oil Search’s board on its bid from Santos, Senex Energy on its $885 million sale to POSCO International and Hancock Energy, and Woodside Petroleum on its $US3.6 billion Pluto Train 2 selldown.
https://www.afr.com/street-talk/rothschild-head-of-m-and-a-for-australia-chris-forman-dies-48-20220324-p5a7nz

 

We know that investors use mutual funds across their entire book of business.

https://www.cnbc.com/2022/01/28/jpmorgans-10-billion-mutual-fund-etf-conversion-not-tipping-point.html

NOTE: ETF trading occurs in-kind, meaning they cannot be redeemed for cash. Mutual fund shares can be redeemed for money at the fund's net asset value for that day. Stocks are bought and sold using cash.

https://www.cnbc.com/2022/01/25/aerojet-rocketdyne-ftc-likely-suing-to-block-lockheed-martin-buy.html

NEW  For the rest of us, this means investing in banks is only going to get more difficult. It will no longer be enough simply to know whether managements can assess credit risks, allocate capital or inspire sales forces. Bankers are becoming software engineers nowadays, and it could be a while before we find out how many of them are up to the job.  https://www.ft.com/content/dbfb2dca-4bb4-4697-9b4e-b84a5fa8b48e

NEW  it,JPMorgan,, paid an undisclosed sum for a 49% stake in Viva Wallet Holdings Software Development S.A. (Viva Wallet), a Greece-based payments fintech company. Citing unnamed sources familiar with the deal, Reuters reported that the transaction values Viva Wallet at more than $2 billion.

http://https://www.marketwatch.com/story/jpmorgan-chase-invests-in-greek-payments-company-viva-wallet-2022-01-25

NEW   American banking giant JPMorgan (JPM.N) has merged most of its European Union businesses into a single entity in Germany, it said on Monday, seeking to make its business in the bloc more competitive after Britain's departure.   https://www.reuters.com/business/finance/jpmorgan-merges-eu-operations-into-single-german-business-2022-01-24/

JPMorgan Chase & Co. said Monday that it has merged its EU businesses into one entity in Germany, part of an effort to simplify its structure for EU-based clients.
The U.S. bank said it has merged its Luxembourg and Irish businesses into its German one. The new Frankfurt-based entity, J.P. Morgan SE, is one of the five largest banking legal entities in Germany, it said.
JPMSE offers products and services across the lender's corporate and investment, commercial and private banking businesses.
JPMorgan's legal entities in the U.K. remain unchanged, the bank said.

https://www.marketwatch.com/story/jpmorgan-regroups-european-businesses-271643017122

 

 

Dimon Moves Took Advantage of Government Support: Video:  https://www.youtube.com/watch?v=8WAyLCRiOn4

NEW    I tried to publish this article. without success [there is no year attached  to the article] :

The letter, signed by five members of the Senate Banking Committee and its chairman, Sen. Sherrod Brown of Ohio, cited an article by ProPublica and The Capitol Forum that revealed how Chase had launched an ongoing lawsuit blitz against indebted credit card customers when the pandemic began battering the economy in early 2020. https://www.propublica.org/article/senators-ask-jpmorgan-chase-to-explain-its-lawsuit-blitz-against-credit-card-customers

Proposed Repeal of Connally Reservation - A Matter for Concern Howard H. Boyle Jr. Follow this and additional works at: http://scholarship.law.marquette.edu/mulr  Part of the Law Commons

This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Law Review by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact megan.obrien@marquette.edu. Repository Citation Howard H. Boyle Jr., Proposed Repeal of Connally Reservation - A Matter for Concern, 43 Marq. L. Rev. 317 (1960). Available at:

http://scholarship.law.marquette.edu/mulr/vol43/iss3/3 PROPOSED REPEAL OF CONNALLY RESERVATION-A MATTER OF CONCERN HOWARD H. BOYLE, JR.*

Our Constitutional protections can most effectively and abruptly be lost by surrender of judicial authority to a supreme supranational juridical body which is neither bound by nor in sympathy with concepts which underlie that Constitution. Although it is not generally publicized, such surrender is now being arranged.

The supreme supranational juridical body to which our Constitution would be subordinated has already been set up and is ready for business.

It is the United Nation's International Court of Justice. The surrender device is Senate Resolution number 94 which would repeal the "Connally Reservation." BACKGROUND OF CONNALLY RESERVATION Chapter XIV of the UN Charter set up the so-called "International Court of Justice," but under Article 36 of the court statute, which was appended to the charter, such court's compulsory jurisdiction was made dependent on voluntary submission by member nations.

In 1946 the United States submitted to such compulsory jurisdiction through the Morse Resolution (S. Res. 196). In the form presented to the Senate the Morse Resolution excepted from the jurisdiction therein granted "disputes with regard to matters which are essentially within the domestic jurisdiction of the United States."

In order to give practical assurance that the International Court would not assume jurisdiction over matters essentially domestic, the Senate, on August 2, 1946, by a vote of 51 to 12, added to this exception the following words: "as determined by the United States."' These six words are known as the "Connally Reservation"-after Senator Tom Connally of Texas who sponsored the amendment.

PROPOSED REPEAL OF CONNALLY RESERVATION

On March 24, 1959 Senator Hubert Humphrey of Minnesota intro- * Practicing lawyer, Milwaukee, Wisconsin. Member State Bar of Wisconsin (World Peace Through Law and Constitutional Rights Committees, Family Law Section) and Milwaukee Bar Association (Judicial Qualifications and Legislative Committees). Member, Faculty, Marquette University. World War II PT Boat Skipper. 1

The "Morse Resolution" as finally passed by the Senate in 1946 reads as follows: "Resolved (two-thirds of the Senators present concurring therein), that the Senate advise and consent to the deposit by the President of the United States with the Secretary General of the United Nations of a declaration under paragraph 2 of Article 36 of the Statute of the International Court of Justice recognizing as compulsory ipso facto and without special agreement, in relation to any other state accepting the same obligation, the jurisdiction of the Internatonal Court of Justice in all legal disputes hereafter arising concerning-

(a) The interpretation of a treaty; MARQUETTE LAW REVIEJ[Vl4 duced into the Senate S. Res. 94 to repeal the Connally Reservation.2 In June 1959 Representative McDowell of Delaware introduced into the House of Representatives H. Res. 267 in support of S. Res. 94.3 At this writing S. Res. 94 is before the Senate Foreign Relations Committee awaiting further action after reports have been received from (b) Any question of international law; (c) The existence of any fact which, if established, would constitute a breach of an international obligation;

(d) The nature or extent of the reparation to be made for the breach of an international obligation: Provided, That such declaration shall not apply to- (a) disputes the solution of which the parties shall entrust to other tribunals by virtue of agreements already in existence or which may be concluded in the future; (b) disputes with regard to matters which are essentially within the domestic jurisdiction of the United States as determined by the United States; or (c) disputes arising under a multilateral treaty, unless (1) all parties to the treaty affected by the decision are also parties to the case before the Court, or (2) the United States specially agrees to jurisdiction: Provided further, That such declaration shall remain in force for a period of 5 years and thereafter until the expiration of 6 months after notice may be given to termnate the declaration." 2 Senate Resolution 94 reads as follows: "Resolved (two-thirds of the Senators present concurring therein), that Senate Resolution 196 of the 79th Congress, 2d session, agreed to August 2, 1946, is hereby amended to read as follows: Resolved (two-thirds of the Senators concurring therein), That the Senate advise and consent to the deposit by the President of the United States with the Secretary General of the United Nations, of a declaration under paragraph 2 of Article 36 of the Statute of the International Court of Justice recognizing as compulsory ipso facto and without special agreement, in relation to any other state accepting the same obligation, the jurisdiction of the International Court of Justice in all legal disputes hereafter arising concerninga.

The interpretation of a treaty; b. Any question of international law; c. The existence of any fact which, if establshed, would constitute a breach of an international obligation; d. The nature or extent of the reparation to be made for the breach of an international obligation. Provided, That such declaration shall not apply toa. disputes the solution of which the parties shall entrust to other tribunals by virtue of agreements already in existence or which may be concluded in the future; or b. disputes with regard to matters which are essentially within the domestic jurisdicton of the Unted States; or c. disputes arising under a multilateral treaty, unless

(1) all parties to the treaty affected by the decision are also parties to the case before the Court, or

(2) the United States specially agrees to jurisdiction. Provided further, That such declaration shall remain in force until the expiraton of 6 months after notice may be given to terminate the declaration."

3 House Resolution 267 reads as follows: "Resolved, That it is the sense of the House of Representatives that the determination of whether the United States is a party involves matters which are essentially within the domestic jurisdiction of the United States ,and is therefore not within the compulsory jurisdiction of the International Court of Justce, should be made by the Court itself rather than by the United States; and that any provision of law or resoultion to the contrary should be repealed or otherwise nullified."

executive agencies. The chances of such resolution passing must be considered excellent. 4 REPEAL OF CONNALLY RESERVATION AS SURRENDER OF JUDICIAL AUTHORITY TO WORLD COURT It is likely that should power to decide whether a matter is essentially within the domestic jurisdiction of the United States be passed over to the International Court--i.e. should the Connally Reservation be repealed, such court would assume jurisdiction over essentially domestic matters. Modern international thinking of the World Government persuasion, which is fast coming into predominance, holds that there is no difference between domestic and foreign affairs-that any matter of substance has international implications.

An official statement by the United States State Department in September 1950, with a foreward by President Truman, declared "There is no longer any real difference between domestic and foreign affairs."

5 The UN representative of the Consultative Council of Jewish Organizations has stated :6 "... once a matter has become in one way or another, the subject of regulation by the United Nations, be it by resolution of the General Assembly or by convention between member states at the instance of the United Nations, that subject ceases to be a matter 'essentially within the domestic jurisdiction of the member states'." Mr. Charles S. Rhyne, Chairman of the Special ABA World Peace Through Law Committee, and a leading proponent for repeal of the Connally Reservation states: "What happens anywhere affects men everywhere."' T Where such philosophy obtains, what, for instance, would be the position of the International Court on the question of whether matters having to do with immigration, or with the Panama Canal, were essentially domestic to the United States?

What would be such a court's position if the question of President Truman's seizure of the steel mills during the Korean War should arise again? Or, to take other situations which are not unrealistic in view of happenings in other countries, suppose the question of silencing a newspaper critical of the UN should come before the International Court-or of quartering UN emergency forces in private United States homes--or of suppressing religious

4 Attorney General Rogers spoke for the Administration in urging passage of S. Res. 94 at the 1959 convention of the American Bar Association in Miami; two organizations of no little influence, i.e. the United World Federalists and a Special Committee of the American Bar Association called "World Peace Through Law" committee, have put passage of S. Res. 94 at the top of the list; the Senate Foreign Relations Committee numbers among its members Senators J. W. Fulbright (Chairman) and Wayne Morse, both of whom voted against the Connally Reservation in 1946, and Senator Hubert Humphrey who is sponsoring repeal; recently the Special ABA "World Peace Through Law" committee made Senator Fulbright one of its members.

5 U.S. Dept. of State, Pub. No. 3972, Gen. Foreign Policy Series 26 (Dec. 15, 1959). 6 Mose Moskowitz in the American Bar Associaton Journal, April 1949. 7As quoted in the Washington Post and Times, March 29, 1959. 1


teachings contrary to UN doctrine? In a World Government atmosphere it is quite reasonable to expect that the International Court would determine such matters not to be "essentially domestic" to the United States, but as having international implications-and would then proceed to decide the same without regard, of course, to United States Constitutional protections.

INTERNATIONAL COURT NOT BOUND By CONSTITUTIONAL CONCEPTS Substantially objections to repeal of the Connally Reservation would be greatly reduced if we could be sure that the International Court would decide the merits of "essentially domestic" matters in the same way our United States courts would decide them-that is if the International Court would be bound by the same principles as are found in our Declaration of Independence and Bill of Rights.

There is, however, no agreement as to what is, or as to what shall be, the "world law" which the International Court is to apply. The UN World Court statute declaration of what such "world law" is to be is amenable to inclusion of communist doctrine.

This statute states at Article 38 thereof: "1. The Court, whose function is to decide in accordance with international law such disputes as are submitted to it, shall apply:

a) international conventions, whether general or particular, establishing rules expressly recognized by the contesting states;

b) international custom, as evidence of a general practice accepted as law;

c) the general principles of law recognized by civilized nations; d) subject to the provisions of Article 59, judicial decisions and the teachings of the most highly qualified publicists of the various nations, as subsidiary means for the determination of rules of law." Former Secretary of State John Foster Dulles commented on this Article as follows:

"Article 38 of the statute goes on to recognize as international law not merely international conventions, but international custom, general principles of law recognized by civilized nations, and the teachings of the most highly qualified publicists of the various nations. If the applicable rule of international law is so uncertain that resort must be had to alleged custom, teachings, etc., then the Court [International Court of Justice] can scarcely avoid indulging in a large amount of judicial legislation or political expediency."

S That Natural Moral Law apparently is not envisioned as the basis for such "world law" is indicated in the following statement by The Chairman of the 'World Peace Through Law" committee: . . . we must conclude that concepts of the past are no firm foothold for the dynamic present and the uncertain future. . .. sCong. Rec. of August 1, 1946, p. 10623

https://scholarship.law.marquette.edu/cgi/viewcontent.cgi?referer=&httpsredir=1&article=2871&context=mulr

Religion as a moral basis for peace has strong appeal to those of us who believe in God and the natural law. But there are differences in dogma and belief which have stood as roadblocks to the use of religion [query: Natural Law] as a universal foundation for peace

9 Supporters of the World Court movement and of Connally Reservation repeal make no definite declaration as to what is the "world law" to be applied by the International Court. The vacuum in this respect is apparent mostly by implication from their remarks.

At future World Conferences, through working committees between conferences, spadework on treaties to build new legal rules in many fields could be carried out on an extensive scale ... building new law in the world community .... :o A rudimentary system of law, with only a few abstract rules to guide the [international circuit] courts may be said to be complete so long as there is a clear duty incumbent upon the members of a community to submit their disputes to final decisions by the Courts. ("There shall be no violence" is abstract rule mentioned in a preceding sentence)."'

Inasmuch as communist participation on a voluntary basis is sought in order that the objective of world "peace" might be attained without force, is it likely that the world law which the International Court is finally to apply will be comprised of basic precepts which communism has had a voice in determining-or to which communism finds no objection:

Moreover, judges of the International Court not only do not have a background inimical to State Supremacy and socialism, but probably more important, they are not answerable to the people anywhere.

If, as seems to be the case, the International Court is not necessarily to be governed by precepts of the Natural Moral Law-principles which have found expression in our Declaration of Independence and Bill of Rights-, the effect of its decisions on our national institutions and concepts of individual dignity will necessarily be unpredictable. At the very least, should not likely surrender of jurisdiction over matters essentially domestic (repeal or dilution of Connally Reservation) wait until such time as the law then to be governing is certain

ARGUMENTS FOR REPEAL OF CONNALLY RESERVATION QUESTIONA3LE Why is repeal of the Connally Reservation sought?

The principal argument advanced by those who seek repeal is that the Connally Reservation has been responsible for the World Court having only 11 cases 9 Charles S. Rhyne, Chairman ABA "World Peace Through Law" committee in article entitled "World Peace Through Law" Wis. BAR BULL.

I 0 News Release, Committee on World Peace Through Law of the American Bar Associaton, Dallas, Texas, April 29, 1959.

"Working Papers on the Rule of Law Among Nations, Regional Conference of Lawyers, Chicago, Illinois, April 17 and 18, 1959, published by Special ABA "World Peace Through Law" committee. 1959-1960] MARQUETTE LAI REVIEW in the past 13 years.

2 This argument has been repeated in numerous newspaper editorials throughout the country at the instance of the Special ABA "World Peace Through Law Committee."13 Whether or not the inactivity of the World Court is to be deplored is a subject not within the purview of this paper; so far as here material, neglect of the court is the purported purpose behind repeal of Connally Reservation.

However, would repeal of the Connally Reservation really lead to an increase in the court's business other than in matters being essentially domestic to the United States?

International experts seem to think not. Reasons why the World Court has been neglected have been stated by these experts as follows:

lst.-feeling "that law has little relevance to the problems involved in the maintenance of international peace and security under existing conditions. ' 14

2nd.-"Decline of the prestige of law." [note communism, as world power, record in abiding with law] .1"

3rd.--"The opposition of the U.S.S.R."' 6

4th.-"The prohibition of resort to force (with the result that international delinquents are free from pressure to submit to adjudication or arbitration)."'"

5th.-"The fear (of new States) that judges and arbitrators will apply traditional international law."' s

6th.-"The present uncertainty of international law." 19

7th.--"The absence of any general desire to organize the world on the basis of respect for law." 20

8th.---"The remoteness of the Court from non-European countries. ' 21 12 News Release, Senator Hubert H. Humphrey, March 24, 1959. 13Asbury Park (N.J.) Press May 3, 1959; Asheville (N.C.) Times April 27, 1959; Carlisle (Pa.) Sentinel April 21, 1959; Chicago Daily News April 15, 1959; Chicago Sun Times April 19, 1959; Christian Science Monitor April 13, 1959; Dallas Times Herald April 28, 1959; Evansville (Ind) Courrier June 23, 1959; Evening Star (Wash. D.C.) April 14, 1959; Fresno (Calif.) Bee April 23, 1959; Gary (Ind.) Post-Tribune April 15, 1959; High Point (N.C.) Enterprise June 19, 1959; Life Magazine April 27, 1959; Mankato (Minn.) Free Press May 20, 1959; Mason City (Iowa) Globe-Gazette, July 13, 1959; Modesto (Calif.) Bee, April 26, 1959; Morganton (N.C.) News Herald May 2, 1959; New Haven (Conn.) Journal-Courier April 6, 1959; New York Herald Tribune April 15, 1959; Orlando (Fla.) Star May 1, 1959; Pittsfield (Mass.) Berkshire Eagle March 31, 1959; Portland Oregon Journal April 27, 1959; Quincy (Ill.) Herald-Whig April 20, 1959; Rapid City (S.D.) Journal May 17, 1959; Rutland (Vt.) Herald May 14, 1959; Sacramento (Calif.) Bee April 23, 1959; St. Paul (Minn.) Dispatch April 18, 1959; Sheboygan (Wis.) Press April 3, 1959; Toledo (Ohio) Blade April 3, 1959; Tulsa (Okla.) Tribune April 21, 1959; Washington (D.C.) Post April 1, and May 4, 1959; Wheeling (vr. Va.) Intelligence May 16, 1959; Winston-Salem (N.C.) Journal April 19, 1959. 14 Goodrich and Simons, The United Nations and the Maintenance of International Peace and Security. 15 Professor Emile Giraud, Annnaire de l'Institut de Droit International, 1957, Vol. 1, pp. 260-264. 'G Supra. 17 Supra. Is Supra. 19 Supra. 20 Supra. - Professor Louis B. Sohn, International Trade Arbitration, Domke ed. pp. 63-76. [Vol. 43 A MATTER OF CONCERN 9th.--"The cost of transportation to The Hague of agents, lawyers, experts and witnesses. '22

10th.-The feeling in some quarters that the Court as a whole does not have sufficient understanding of the special problems and the diverse systems of international law of the various regions of the world."23

llth.--"Some of the members of the Court are not qualified by experience for effective service as judges." 24

All the above questions were taken from the Chapter entitled "Reasons for Neglect of the Court" in Working Papers compiled by the Special ABA World Peace Through Law Committee25 and in the order given.

Compilers of such working papers mention repeal of the Connally Reservation only in conclusion to the above points, and then only as a matter of speculation. It would seem, therefore, either that criticism of the Connally Reservation is not well placed or that there is some other purpose behind repeal.

Further the World Peace Through Law Committee has caused to be printed and distributed a misleading circular from which it appears that Cardinal Cushing spoke in favor of repeal of the Connally Reservation. [See Exhibit "A"].

Cardinal Cushing did not speak the words seemingly attributed to him by this circular. The misleading impression was created solely by clever arrangement of the newspaper clippings involved.

The Cardinal's short speech referred to in the newspaper articles was devoted to urging recognition of the natural Moral law- "There is a further bond which I must mention which transcends national borders and to which both men and nations are subject and this is the moral law itself. '26

Proponents of the Connally Reservation repeal dismiss the dangers attendant on such repeal by arguing that the World Court statute as presently set up provides:

"Only states may be parties in cases before the Court" ;27 and that in past decisions jurisdiction has not been assumed over domestic matters.

These arguments are not deemed reassuring. Not only would action against an individual in the name of the state to which he was subject be justifiable to the earnest World Government advocate, but it is definitely intended that the scope of the International Court's power be expressly enlarged to cover disputes arising "in relationships between man and man and between man and govern

22 Supra. 23 Supra. 24 Itfra, note 25.

25 "Working Papers on the Rule of Law Among Nations", American Bar Association Special Committee on World Peace Through Law, Regional Confe- rence of Lawyers, Chicago, Illinois, April 17 and 18, 1959, pp. 28-30. 26 Richard Cardinal Cushing, Archbishop of Boston at meeting of "World Peace Through Law" committee, Statler Hotel, Boston, March 28, 1959. 2 World Court Statute, Article 34.


ment.' ' 28 Moreover, it is entirely possible that under the General Assembly "Uniting for Peace" resolution of November 3, 1950 conventions of the Human Rights and Genocide type could be passed, without the concurrence of the United States, which would empower the World Court to try individuals.

As to the matter of the World Court not presently exhibiting a direction toward ignoring the "essentially domestic" features of matters before it, such is not surprising.

If it be intended that the United States be deprived of jurisdiction over matters essentially domestic, it would hardly do to reveal such intent before the people of the United States repealed their Connally Reservation.

Although to date most activity in connection with the Connally Reservation has been toward repeal, as more and more people learn about the movement, opposition is developing.

The two veterans organizations which have had the matter before them, the American Legion "9 and the Wisconsin Department of Catholic War Veterans 3 0 have gone on record opposing repeal of the Connally Reservation. The subject is deemed sufficiently vital to merit everyone's consideration. 28 Charles S. Rhyne in article "World Peace Through Law" Wis. B. Bull. December 1958, see also footnote 11, supra at pages 2 and 34; and remarks made in Digest of Proceedings of Regional Conferences of Lawyers, American Bar Association Special Committee on World Peace Through Law. 29

Text of resolution number 462 adopted as part of report by the Foreign Relations Committee of the American Legion at National Convention in Minneapolis on August 27, 1959 reads:

"WHEREAS, It is desirable that the United States maintain an independent judiciary system, and WHEREAS, The International Court at The Hague may render useful international services by issuing advisory opinions upon request by other nations; now, therefore, be it RESOLVED,

That the International Court should restrict its jurisdiction to cases only presented by petition and refrain from involving itself in domestic litigation, and we request that the Senate of the United States reject emphatically all efforts aimed at the impairing of the Sovereignty of the United States through abandoning the present power of the American Government to limit the jurisdiction of the World Court to purely international affairs." 

30 Text of resolution adopted by Department of Wisconsin, Catholic War Veterans, State Convention assembled in Wisconsin Rapids, Wisconsin, on May 24, 1959 reads:

"WHEREAS, through a Senate Resolution, the United States has submitted to the compulsory jurisdiction of the International Court of Justice (U.N. World Court), and WHEREAS, there was an exception to this jurisdiction over matters ,essentially within the dacmestic jurisdiction of the United States,' and,

WHEREAS, in order to protect our national institutions and Bill of Rights there was added to this exception the words 'as determined by the United States', and

WHEREAS, there are movement today which seek to repeal the words, 'as determined by the United States', known as the Connally Reservation, therefore the Catholic War Veterans assembled in state convention May 22- 24, 1959, Wisconsin Rapids, do hereby instruct our state officers that they contact at once by telephone or mail, United States Senators Alexander Wiley and William Proxmire that we want the Connally Reservation kept in the law and that they vote against SR94 that would repeal it. Also, that our state officers contact at once our National Department so that all United States Senators be contacted and immediately instructed to vote the same.


Vol. 43 WINTER, 1959-1960 No. 3 LAW REVIEW BOARD

GEORGE F. GRAF RUPERT J. GROH JR. ROBERT E. KUELTHAU ROBERT SLATTERY FRANK DEGUIRE THOMAS FINCH IRVIN FREIDLAND MAURICE J. GARVEY

Editor-in-chief Associate Editor Associate Editor Associate Editor ROBERT GRIFFIN REGINALD M. HISLOP JAMES L. STEIMEL ROBERT G. ULRICH GERALD S. WALSH

STUDENT CONTRIBUTORS TO THIS ISSUE WILLIAM F. Fox Louis W. STAUDENM2AIER, JR. IRVIN FRIEDLAND JA-MES L. STEIMAEL JAMES A. KERN GERALD S. WALSH RICHARD C. NINNEMIAN DAVID L. WALTHER

Business Manager JOSEPH J. MURATORE Faculty Advisor LEO W. LEARY "MEMBER, NATIONAL CONFERENCE OF LAW REVIEWS"

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