§ 1442. Member financial information

688 words·~3 min read·/usc/title-12/section-1442

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(a)In general In order to enable the Federal Home Loan Banks to carry out the provisions of this chapter, the Secretary of the Treasury, the Comptroller of the Currency, the Chairman of the Board 1 of Governors of the Federal Reserve System, the Chairperson of the Federal Deposit Insurance Corporation, the Chairperson of the National Credit Union Administration, and the Director of the Office of Thrift Supervision, upon request by any Federal Home Loan Bank—

(1)shall make available in confidence to any Federal Home Loan Bank, such reports, records, or other information as may be available, relating to the condition of any member of any Federal Home Loan Bank or any institution with respect to which any such Bank has had or contemplates having transactions under this chapter; and

(2)may perform through their examiners or other employees or agents, for the confidential use of the Federal Home Loan Bank, examinations of institutions for which such agency is the appropriate Federal banking regulatory agency.

In addition, the Comptroller of the Currency, the Chairman of the Board 1 of Governors of the Federal Reserve System, the Chairperson of the National Credit Union Administration, and the Director of the Office of Thrift Supervision shall make available to the Director or any Federal Home Loan Bank the financial reports filed by members of any Bank to enable the Director or a Bank to compile and publish cost of funds indices or other financial or statistical reports.

(b)Consent by members Every member of a Federal Home Loan Bank shall, as a condition precedent thereto, be deemed—

(1)to consent to such examinations as the Bank or the Director may require for the purposes of this chapter;

(2)to agree that reports of examinations by local, State, or Federal agencies or institutions may be furnished by such authorities to the Bank or the Director upon request; and

(3)to agree to give the Bank or the Federal agency, upon request, such information as they may need to compile and publish cost of funds indices and to publish other reports or statistical summaries pertaining to the activities of Bank members.

(July 22, 1932, ch. 522, § 22, 47 Stat. 739; Pub. L. 101–73, title VII, § 719, Aug. 9, 1989, 103 Stat. 422; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)

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Public Law 101–73
To reform, recapitalize, and consolidate the Federal deposit insurance system, to enhance the regulatory and enforcement powers of Federal financial institutions regulatory agencies, and for other purposes

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Sec. 22
MEMBER FINANCIAL INFORMATION

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9 references not yet in our index

1
July 22, 1932, ch. 522, § 22
47 Stat. 739
Pub. L. 101–73, title VII, § 719
103 Stat. 422
Pub. L. 110–289, div. A, title II, § 1204(8)
122 Stat. 2786
Pub. L. 110–289
Pub. L. 101–73

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§ 1442

Member financial information

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ActJuly 22, 1932, ch. 522, § 22

Stat.47 Stat. 739

Pub. L.Pub. L. 101–73, title VII, § 719

Stat.103 Stat. 422

Cites 9 · showing 5Cited by 22 across 5 sources