Regional President Speech

foAtp Msemncm Fi-fc i£t imS THE AMERICA!. BANKERS ASSOCIATION ON BRETTON TROOPS There is only one basic disagreement between the AM and the Bret ton Woods proposals, although it has a number of aspects. The core relates to the rights of borrowers. The ABA position: Holds that the borrower has no rights - not even conditional - but must meet the terms imposed by the lender when the loan is made. The Bretton floods agreements: Are based on the proposition that a borrower has limited conditional rights which become actual when and as long as the borrower satisfies conditions specified in advance. Are based on the principle of the limited line of credit. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 2 - The ABA position is based on the assump­ tion that borrowers can't be trusted but will use credits whether they are needed or not, merely because they are available. Hence, holds the Fund is too large and untimely. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1945, February 14). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19450215_karl_r_bopp

@misc{wtfs_regional_speeche_19450215_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1945},
  month = {Feb},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19450215_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}