COMMITTEE ON GOVERNMENTAL AFFAIRS

TED STEVENS, Alaska

WILLIAM V. ROTH, JR., Delaware, Chairman

CHARLES MCC. MATHIAS, JR., Maryland
WILLIAM S. COHEN, Maine

DAVID DURENBERGER, Minnesota
WARREN B. RUDMAN, New Hampshire
THAD COCHRAN, Mississippi

THOMAS F. EAGLETON, Missouri
LAWTON CHILES, Florida
SAM NUNN, Georgia

JOHN GLENN, Ohio

CARL LEVIN, Michigan
ALBERT GORE, JR., Tennessee

JOHN M. DUNCAN, Staff Director
MARGARET P. CRENSHAW, Minority Staff Director

Charles Blau, Associate Deputy Attorney General, Department of Justice.........

Charles Morley, chief investigator, Permanent Subcommittee on Investiga-

tions.........

William J. Schilling, Director, Office of Examinations and Supervision, Feder-

al Home Loan Bank Board, accompanied by Vincent Cerreta, former Acting

Director, Federal Home Loan Bank Board, New York Regional Office, and

Frank Nelson, Field Manager, Federal Home Loan Bank Board, New York

Regional Office....

Antonio J. Munoz, chairman and chief executive officer, Banco Financiero de

Puerto Rico as given through an interpreter, Irene King, and Jose Dumont,

chief executive officer, Caribbean Federal Savings Bank

Hector Ledesma, president, Puerto Rico Bankers Association and chief execu-

tive officer, Banco Popular de Puerto Rico, and Mariano J. Mier, president,

Puerto Rico Savings and Loan Association and president, First Federal

Savings Bank........

9

39

64

109

126

ALPHABETICAL LIST OF WITNESSES

Morley, Charles:

Testimony........

Daily amount of manager's checks purchased by Rodal Magazines Distrib-

......

1. FHLBB examination data........

2. Letter to Chairman Roth from Juan Acosto Alicea, Secretary of the Treasury of Puerto Rico........

3. Large currency flows through Puerto Rican banks....

4. Documents submitted by Mr. Morley during his testimony....

52929917