To Improve Examination and Supervision of Insured Banks: Hearing, Ninetieth Congress, Second Session on H.R. 16064, a Bill to Amend the Federal Deposit Insurance Act with Respect to the Scope of the Audit by the General Accounting Office. May 6 and 7, 1968Considers H.R. 16064, to amend the Federal Deposit Insurance Act to permit GAO access to FDIC, Federal Reserve Board, and Comptroller of the Currency bank examination reports and records for the purposes of evaluating their policies and administration of banking regulations. Focuses on the confidentiality of the relationship between bank examiners, bankers, and right to privacy of bank customers. Includes H. Doc. 81-280 "Report on Audit of Federal Deposit Insurance Corporation for FY48," July 27, 1948 (p. 183-240); and H. Doc. 89-397 "Report of Audit of Federal Deposit Insurance Corporation, Year Ended June 30, 1964," Mar. 1, 1966 (p. 241-304). |
Other editions - View all
Common terms and phrases
Accounting Office agencies amount applicable assessments assets purchased audit audit report auditors bank examination reports bank failures bank's BARRETT bill billion board of directors CAMP capital stock Chairman PATMAN closed banks closed insured banks committee Comptroller confidential CONGRESS THE LIBRARY December 31 Deposit Insurance Act Deposit Insurance Corporation deposit insurance fund deposit insurance reserve depositors ended June 30 estimated expenses FDIC Federal credit union Federal Deposit Insurance Federal Reserve Act Federal Reserve banks Federal Reserve System financial condition financial statements financial transactions fiscal year ended GALIFIANAKIS GAO audit Government securities income individual banks insured deposits interest legislation LIBRARY OF CONGRESS liquidation losses member banks ment National Bank number of banks operating percent problem banks procedures question RANDALL receivership recommendations records reports of examination savings and loan schedule SCHREMP STAATS subrogated supervision tion Total Treasury trust department unrestricted access WEITZEL WRIGHT PATMAN
Popular passages
Page 324 - ... 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 19 - 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, and they shall be afforded full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians...
Page 12 - 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 - ... by direction of the Congress of the United States, or of either House thereof, or any committee of Congress or of either House duly authorized. Any person violating any provision of this section shall be punished by a fine of not exceeding $5,000 or by imprisonment not exceeding one year, or both.
Page 183 - 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 342 - 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.
Page 162 - COMPTROLLER GENERAL OF THE UNITED STATES Mr. Chairman and Members of the Committee: We are pleased to be here today to discuss with you the administration of export controls.
Page 251 - ... 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 104 - If we can be of further assistance to you, please do not hesitate to contact us.