Recent Bank Closings: Hearings Before ... , 92-1 ... , March 9, 19711971 - 120 pages |
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19 bank closings amount approximately Aransas Pass asked assessment asset risk authority bad management included bank failures bank's Banking and Currency BARRETT Board of Directors Bonne Terre borrower brokered deposits brokered funds capital Chairman Characteristics of bad Citizens State Bank closed bank Coalville Commission on Financial Committee on Banking Comptroller Congress Corporation's Deposit Insurance Corporation depositors diversification of asset Eatontown examination reports FDIC FDIC examiners Federal Deposit Insurance Federal Reserve System Frank Frank Sharp GARRY BROWN Gonzalez hearing Hengren indicated legislation liquidating dividends equals loan portfolio Lovelady March 23 March 9 million money broker National Bank number of banks Patman Prairie City problem banks provide adequate supervision received records recovery through liquidating Regional Director regulatory agencies reports of examination request REUSS Sharpstown State Bank ST GERMAIN statement Structure and Regulation SULLIVAN Texas tion total deposits Total excess total number transactions Washington Widnall WILLIAM WRIGHT PATMAN
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Page 15 - Whenever member banks are required to obtain reports from affiliates, or whenever affiliates of member banks are required to submit to examination, the Board of Governors of the Federal Reserve System or the Comptroller of the Currency, as the case may be...
Page 13 - member bank" shall be held to mean any national bank, State bank, or bank or trust company which has become a member of one of the reserve banks created by this Act. The term "board...
Page 15 - CHANGES IN EXISTING LAW MADE BY THE BILL, As REPORTED In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows...
Page 7 - ... wholly owned Government corporations by the Government Corporation Control Act, as amended; (2) maintain an integral set of accounts which shall be audited annually by the General Accounting Office in accordance with the principles and procedures applicable to commercial transactions as provided by the Government Corporation Control Act, as amended...
Page 7 - USC 1827 which provides in pertinent part : "(b) The financial transactions of the Corporation shall be audited by the General Accounting Office in accordance with the principles and procedures applicable to commercial corporate transactions and under such rules and regulations as may be prescribed by the Comptroller General of the United States.
Page 7 - The representatives of the General Accounting Office shall have access to all books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the District and necessary to facilitate the audit...
Page 7 - A report of each such audit for each fiscal year ending on June 30 shall be made by the Comptroller General to the Congress not later than January 15 following the close of the fiscal year for which such audit is made.
Page 13 - In either case to injure or defraud the association or any other company, body politic or corporate, or any Individual person, or to deceive any officer of...
Page 15 - USC 1464) and section 406 of the National Housing Act, as amended (12 USC 1729) ; (v) the application of section 408 of the National Housing Act (12 USC 1730a) to holding companies; and ( vi) the granting or revocation of any approval, permission, or authority, except to the extent...
Page 7 - The Corporation's accumulated net income has been retained as a deposit insurance fund and is available for future deposit insurance losses. We are unable to express an opinion on the adequacy of the deposit insurance fund to meet future losses because the amount that may be needed is dependent on future economic conditions.