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DOCOUENT RNSUAN
07680 - [C324tD4
rRequlations and activities regarding Certificate of Deposit
Maturity Notification]. GGD-79-11. October 20v 1978. 2 Fr.
Report to Robert H. McKinney, Chairman, Federal Rome Loan Bank
Board; by Allen R. Voss, Director, General Government Div.
Issue Area: Consumer and Vorker Protection (900).
Contact: General Government Div.
Budget Function: General Government: Other General Government
(806).
A survey was performed of the Jederal 8oae Loan bank
Board's regulatious and of savings and loan associationa
(S&Ls) activities regarding certificate of deposit (CD)
maturity notification. The Board has not issued regulaticns
coverinq such aotification, and procedures are left to the
individual S&Lfs discretion. Notification procedures varied
amonq S&Ls. Six of seven Washington, D.C., SSLs reviewed sent
adequate notification and also sent information on currently
available CD plans. The other SSL sent notification that was not
informative enough. Notification procedures at four Norfol' S&Ls
reviewed were not as thorough as those at the Vashington
institutions. The Office of Examinations and Supervisicn should
review CD maturity notification procedures, and if it is
determined that there is a correlation between the procedures
and factors regarding SSL size and lccation, a notification
policy could be established accordingly. (BTU)](ViewImageLocal?handle=hein.gao/gaobaayfu0001&div=1&collection=&method=preview&ext=.png&size=3)