To Improve Examination and Supervision of Insured Banks: Hearings Before ... , 90-2 on H.R. 16164 ... , May 6and 7, 19681968 - 354 pages |
Common terms and phrases
Accounting Office action activities amount ANNUNZIO applicable assessments audit department auditors bank examination reports bank failures bank's Banking and Currency BARRETT basis bill billion board of directors CAMP Chairman PATMAN closed banks closed insured banks committee Comptroller confidential Congress Corporation's credit union December 31 Deposit Insurance Act Deposit Insurance Corporation deposit insurance fund depositors employees ended June 30 expenses FDIC Federal credit union Federal Deposit Insurance Federal Reserve banks Federal Reserve Board Federal Reserve System financial condition financial statements financial transactions GALIFIANAKIS GAO audit income individual bank insured deposits interest June 30 legislation liability liquidation losses member banks ment National Bank number of bank operating percent problem banks procedures question RANDALL receivership recommended records reports of examination responsibility savings and loan SCHREMP STAATS subrogated supervision tion Total Treasury trust accounts trust department unrestricted access Washington WEITZEL WRIGHT PATMAN
Popular passages
Page 5 - 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 respective corporations and necessary to facilitate the audit...
Page 221 - ... such comments and information as may be deemed necessary to inform Congress of the financial operations and condition of the Corporation, together with such recommendations with respect thereto as the Comptroller General may deem advisable. The report shall also show specifically any program, expenditure, or other financial transaction or undertaking observed in the course of the audit, which, in the opinion of the Comptroller General, has been carried on or made without authority of law.
Page 126 - Federal Credit Union Act". (June 26, 1934, c. 750, § 1, 48 Stat. 1216.) Act of June 26, 1934, cited to the text, was entitled "An Act to establish a Federal Credit Union System, to establish a further market for securities of the United States...
Page 231 - ... the Corporation pertaining to its financial transactions and necessary to facilitate the audit, and they shall be afforded full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians. All such books, accounts, records, reports, files, papers and property of the Corporation shall remain in possession and custody of the Corporation.
Page 24 - The financial transactions of the Corporation for any fiscal year during which Federal funds are available to finance any portion of its operations may 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 85 - June 30, 1961, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination of these statements was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
Page 5 - The report shall set forth the scope of the audit and shall include a statement (showing intercorporate relations) of assets and liabilities, capital and surplus or deficit; a statement of surplus or deficit analysis; a statement of income and expense; a statement of sources and application of funds; and such comments and information as may be deemed necessary to keep Congress informed of the operations and financial condition...
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Page 157 - Fifth. To appoint by its board of directors, such officers and employees as are not otherwise provided for in this Act, to define their duties, require bonds of them and fix the penalty thereof, and to dismiss at pleasure such officers or employees.
Page 157 - To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed.