STATEMENT OF SENATOR A. WILLIS ROBERTSON
At my request the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the Bureau of Federal Credit Unions have submitted legislative recommendations to the Senate Committee on Banking and Currency for consideration during the current study of the Federal statutes governing financial institutions and credit. Each agency made a section by section analysis of its statutory authority for the purpose of recommending the elimination of obsolete provisions and the addition of new authority where needed to meet present day requirements. The agencies' proposals fall within the general scope of the committee's inquiry. Our study is limited to a consideration of legislation to improve the basic structure of our financial system rather than a discussion of economic policy or an attempt to alter fundamental concepts.
These recommendations will be given careful study by the members of the committee, as well as by the members of our advisory committee. It is hoped that the proposals will stimulate constructive discussion of the issues involved among individuals and organizations in the financial field.
A. WILLIS ROBERTSON,
Acting Chairman for Study of Federal Statutes
Governing Financial Institutions and Credit.