THE EXPEDITED FUNDS AVAILABILITY ACT HEARING BEFORE THE SUBCOMMITTEE ON FINANCIAL INSTITUTIONS OF THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS NINETY-EIGHTH CONGRESS SECOND SESSION ON H.R. 5301 A BILL TO LIMIT THE NUMBER OF DAYS A DEPOSITORY INSTITUTION HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS FERNAND J. ST GERMAIN, Rhode Island, Chairman HENRY B. GONZALEZ, Texas STEPHEN L. NEAL, North Carolina NORMAN E. D'AMOURS, New Hampshire WILLIAM J. COYNE, Pennsylvania RICHARD H. LEHMAN, California BRUCE A. MORRISON, Connecticut JIM COOPER, Tennessee MARCY KAPTUR, Ohio BEN ERDREICH, Alabama CHALMERS P. WYLIE, Ohio STEWART B. MCKINNEY, Connecticut GEORGE HANSEN, Idaho JIM LEACH, Iowa RON PAUL, Texas ED BETHUNE, Arkansas NORMAN D. SHUMWAY, California STAN PARRIS, Virginia BILL MCCOLLUM, Florida GEORGE C. WORTLEY, New York MARGE ROUKEMA, New Jersey BILL LOWERY, California DOUG BEREUTER, Nebraska JOHN HILER, Indiana THOMAS J. RIDGE, Pennsylvania CONTENTS Page Callahan, Hon. Edgar F., Chairman, National Credit Union Administration..... Carper, Hon. Thomas R., a Representative in Congress from the State of Conover, Hon. C.T., Comptroller of the Currency, Office of the Comptroller..... 165 27 153 136 D'Amato, Hon. Alfonse M., U.S. Senator from the State of New York Frank, Hon. Barney, a Representative in Congress from the Commonwealth Gray, Hon. Edwin J., Chairman, Federal Home Loan Bank Board. 173 Callahan, Hon. Edgar F., prepared statement Carper, Hon. Thomas R. prepared statement.. Letter to Chairman St Germain dated April 18, 1984, responding to request to provide information in four areas as follows: (1) Data on banks that almost failed because of kiting, (2) results of questionnaire use in examinations, (3) examples of voluntary compliance, and (4) Response to question of Congressman Chalmers P. Wylie regarding cita- tion from the United States Code on time limitations for presenting Letter to Chairman St Germain dated April 24, 1984, responding to questions regarding actions industry groups have taken on delayed availability and fee income banks receive from returned checks...... Prepared statement on behalf of the Board of Governors of the Federal 190 New York State Banking Department, News release with attached list of 411 St Germain, Chairman Fernand J., letters of invitation to the witnesses....... 389-398 Letter from the New York State Banking Board dated February 27, 1984, with attached new general regulation, part 34, regarding withdrawal of (III) |