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124215 1 (1984-05-24)

handle is hein.gao/gaobacthw0001 and id is 1 raw text is: 




             UNITED  STATES GENERAL ACCOUNTING OFFICE

                      Washington, D.C.  20548


                                           FOR RELEASE ON DELIVERY
                                           EXPECTED AT 10:00 a.m.
                                           MAY 24, 1984
     124215


                            STATEMENT OF

                          HARRY S. HAVENS

                  ASSISTANT COMPTROLLER GENERAL

                            BEFORE THE

              SUBCOMMITTEE ON ECONOMIC STABILIZATION

         COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS

                     HOUSE OF REPRESENTATIVES

                                ON

                     FEDERAL CREDIT PROGRAMS



Mr. Chairman and Members of the Subcommittee:

     We are pleased to appear today to discuss federal credit

programs, their development, growth, control, and evaluation.

This is a subject in which we have had a strong interest  for a

number of years.

Development

     In our society, the allocation of credit for private

purposes is generally a function of private credit markets and

private financial institutions.

     These institutions are subject to varying degrees of federal

and state regulation, but that supervision is primarily aimed at

assuring safety, soundness and disclosure of risk to potential

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