by Stop Banking on Apartheid
San Francisco, California, United States
Undated, 1978?
3 pages
Type: Report
Coverage in Africa: Namibia, South Africa
Coverage outside Africa: United States
Language: English
The document lists an ambitious research agenda about Bank of America because of its loans related to South African and Namibia. The bank's interrelationships with other banks and lending agencies are important. The Bank's Annual Reports for the past five years should be reviewed; they are designed to obscure controversial issues, such as its involvement in South Africa. (Bank of America cites its loan and profit figures for Europe and Africa together.) Nevertheless, the annual reports contain important data. Another good source is the Bank's more detailed 10-K reports. Other bank ''watchdogs" are the Federal Reserve Board and the Office of the Comptroller of the Currency. Note Congressional hearings, such as the House Banking Insurance Committee's "Commercial Banks and their Trust Activities" (1968), Chairman Digg's June 1976 hearing before the House Sub-Committee on International Resources, Food and Energy on "Resource Development in South Africa and U.S. Policy," and the January 1978 report “U.S. Corporate involvement in South Africa” by Senator Clark's subcommittee on Foreign Affairs. The report mentions the Securities and Exchange Commission (SEC), major newspapers and business media (including the Wall Street Journal, Business Week, and the American Banker), Chile, Israel, Brazil, the Philippines, the South African Minister of Information, Johannes McCrory, Crocker National Bank, portfolio bonds, overseas subsidiaries or branches in Africa, overseas loans, U.S. Transnational Corporations, international consortia, gold, deposits from governments, marketing for uranium, the Edge Act, and out-of-state operations.
Used by permission of former members of Stop Banking on Apartheid.
Collection: Miloanne Hecathorn papers