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109992 1 (1979-07-31)

handle is hein.gao/gaobadyhq0001 and id is 1 raw text is: 

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           UNITED STATES GENERAL ACCOUNTING OFFICE
                      WASHINGTON, D.C.


                                       FOR RELEASE ON DELIVERY
                                       EXPECTED AT 10:00 A.M. EDT
                                       Tuesday, July 31, 1979
      109992

                        STATEMENT OF

                        ALLEN R. VOSS

            DIRECTOR, GENERAL GOVERNMENT DIVISION

                         BEFORE THE

    COMMERCE, CONSUMER AND MONETARY AFFAIRS SUBCOMMITTEE

                           OF THE

             COMMITTEE ON GOVERNMENT OPERATIONS

           UNITED STATES HOUSE OF REPRESENTATIVES


     Thank you, Mr. Chairman. We are pleased to be here today

to discuss our report on the information collected on~foreign

investments in U.S. depository institutions   That report was,

of course, the result of work requested by you to determine

what kind of data is collected on such investments, how it is

kept, and how it is used.

     Our overall conclusion is that there is now no comprehen-

sive systematic way to collect data on all foreign investments

in depository institutions in this country. As I will explain

later, the financial institutions regulators probably will get

sufficient information on persons who wish to buy controlling

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