Consolidation of Bank Examining and Supervisory Functions

Additional information submitted to the subcommittee by-Continued
Multer, Hon. Abraham J.-Continued

Letter from Hon. William McC. Martin, Jr., Chairman, Board
of Governors, Federal Reserve System, enclosing joint state-
ment of the Comptroller of the Currency, the Federal Deposit
Insurance Corporation, the Board of Governors of the Federal
Reserve System, and the executive committee of the National
Association of Supervisors of State Banks..

Letter from William McC. Martin, Jr., Chairman, Board of Gov-

ernors of the Federal Reserve System, to Hon. Wright Patman,

dated April 14, 1965..

"Myopia Amid the Maze," editorial, Wall Street Journal, April
21, 1965.

"Reorganization of Federal Bank Supervision," a staff analysis

and comparison of H.R. 107 and H.R. 6885-.

Patman, Hon. Wright: "Supervising the Banks," editorial from Wash-

ington Post, April 11, 1965--

Randall, Hon. K. A.:

Banks insured under the Massachusetts State insurance system,

with information on uninsured banks operating in the United

States___

Examinations conducted in 1964, Federal Deposit Insurance

Corporation..

Robertson, Hon. J. L.: Supervision of the commercial banking sys-
tem-Principal relationships (chart).
Saxon, Hon. James J.:

Page

111

209

216

228

Letter from Hon. Abraham J. Multer to Hon. James J. Saxon,
with reply--

266

Memorandum to district chief national bank examiners and na-

tional bank examiners, dated October 29, 1957--

250

COMMITTEE ON BANKING AND CURRENCY,

JUNE 29 AND 30, 1965

Statement of-

Saxon, Hon. James J., Comptroller of the Currency.

Additional information submitted to the committee by-

Patman, Hon. Wright:

276, 411

Chronology, San Francisco National Bank examinations and
audits___.

Compilation of 29 documented instances of actions by the Comp-

troller of the Currency of doubtful legality and poor policy--

Comptroller of the Currency comparative statement of financial

condition, December 31, 1953–63_

Correspondence of the Comptroller of the Currency with the

Federal Reserve Board and the Federal Deposit Insurance

Corporation concerning Comptroller Saxon's refusal to make

available national bank examination reports as required by

law..

Diversion of public funds resulting from Comptroller's unauthor-
ized management practices__

"Financial Institutions Act of 1957," a summary of S. 1451, the

Robertson bill, as passed by the U.S. Senate, by the Committee

on Federal Legislation, American Bankers Association, April

1957___

"Judge Bars Expansion by Bank, Scores Saxon for His Role in
Plan," article from the Wall Street Journal, July 22, 1965----

Legal challenges to four additional recent rulings by Comptroller

Saxon_..

Letter to Chairman Patman from the American Institute of

Certified Public Accountants refuting Comptroller Saxon's

contention that the November 15, 1963, audit report of the

San Francisco National Bank gave the bank a "clean bill of

442

488

295

601

409

452

Letter to Hon. Douglas Dillon, Secretary of the Treasury, from
President Johnson, dated March 2, 1964----

354

"Myopia Amid the Maze," editorial from the Wall Street Journal,

April 21, 1965__.

355

Additional information submitted to the committee by-Continued

Patman, Hon. Wright-Continued

"National Banks and the Future," a progress report on those

recommendations of the Advisory Committee to the Comp-

troller of the Currency on which action has been taken; pub-

lished by the Bureau of the Comptroller of the Currency,

April 3, 1964..

Points of disagreement between the Board of Governors of the

Federal Reserve System and the Comptroller of the Currency..

Points of disagreement between the Federal Deposit Insurance
Corporation and the Comptroller of the Currency

Rebuttal by committee staff to response by Hon. James J. Saxon

to 29 criticisms of recent legal and policy decisions of his

345

San Francisco National Bank:

Accountants' report, financial statements:

December 31, 1962.

November 15, 1963-

Scope of audit, December 31, 1962-

Schedule showing travels of Comptroller of the Currency during

the year 1964_..

Statement concerning the poor public disclosure standards pre-

scribed by Comptroller Saxon for national banks under the

Securities Exchange Act of 1934....

443

Comptroller's disclosure requirements for annual reports to

stockholders.....

492

Federal Deposit Insurance Corporation's comparable regu-

lations to the Comptroller's disclosure requirements for

annual reports to stockholders.----

Treasury Department release of March 18, 1964, with letters
of Hon. Douglas Dillon, Secretary of the Treasury, dated
March 3 and 13, 1964----

493

354

Treasury Department release on establishment of new Coordi-

nating Committee to avoid further conflicts among the banking

agencies...

490

558

Saxon, Hon. James J.:

Letters of complaint in reference to interest rates...

Letters of complaint received by or referred to the Comptroller of

the Currency:

Copies of letters received by regional offices of the Comp-

troller of the Currency--

590, 593, 595

Letter addressed to the president of a national bank, copy of
which was furnished to a State banking department and
forwarded by that department to the Office of the Comp-
troller of the Currency-

591, 597

Letter of complaint to the Comptroller from an attorney,
representing a bank customer, involving the disposition
of a deposit, allegedly deposited in the bank's night
depository.

Letter of complaint to the Comptroller in reference to a bank

accepting installment paper from an automobile dealer

which had been improperly executed.

Letter of complaint to the Comptroller involving a complaint

by a bank customer that the bank had improperly handled

a delinquent note on which the complainant was a

cosigner..

Letter of complaint to the Comptroller involving alleged

investment advice given to a bank customer by the bank's

management which resulted in a financial loss to the

customer..

Letter of complaint to the Comptroller involving the alleged
failure of a bank to give the complainant a rebate on a
loan which was liquidated prematurely-

586

579

583

576

581

Additional information submitted to the committee by-Continued

Saxon, Hon. James J.-Continued

Reply on the resolution of numerous disputes involving interpre-

tations of law expressed by the Federal Deposit Insurance

Corporation and the Board of Governors of the Federal Re-

serve System with the Comptroller of the Currency-.

Response to 29 criticisms of recent legal and policy decisions of