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GGD-81-12 1 (1981-01-06)

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BY THE COMPTROLLER GENERAL  HI L



Report To The Congress

OF THE UNITED STATES


Federal Examinations Of

Financial Institutions: Issues

That Need To Be Resolved


Five Federal agencies are responsible for super-
vising 41,000 privately owned financial institu-
tions. Onsite examinations are the principal
means used by these agencies to carry out their
supervisory responsibility. The primary ob-
jectives of examinations are to evaluate the
institutions' soundness and to determine
whether applicable laws and regulations are
complied with.

While these objectives are similar, the concepts,
approaches, scope, and frequency differ from
agency to agency. The Congress established the
Federal Financial Institutions Examination
Council to promote uniformity in the exami-
nation and supervision of financial institutions.
This report identifies several areas in the exami-
nation process which are not uniform and need
attention.


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     GGD-81-12
JANUARY 6, 1981

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