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116832 1 (1981-10-30)

handle is hein.gao/gaobadywm0001 and id is 1 raw text is: 


UNITED STATES GENERAL ACCOUNTING OFFICE

           WASHINGTON, D.C.

                          FOR RELEASE ON DELIVERY
                          EXPECTED AT 11:00 A.M. (EST)
                          FRIDAY, OCTOBER 30, 1981


                  STATEMENT OF

               WILLIAM J. ANDERSON

      DIRECTOR, GENERAL GOVERNMENT DIVISION

         U.S. GENERAL ACCOUNTING OFFICE

                   BEFORE THE

COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS

              UNITED STATES SENATE


116832


Mr. Chairman and Members of the Committee:

     We are pleased to be here today to discuss our views on various

sections of S. 1720, the Financial Institutions Restructuring

and Services Act of 1981 and on various sections of S. 1721, which

would consolidate the three deposit and share insurance funds.

     These bills contain several provisions which are related to work

that we have reqently completed or now have underway. For example,

title III of S. 1720 contains provisions related to our recently

begun survey of the separation of commercial banking from invest-

ment banking. Title I of S. 1721 is generally related to our

ongoing review of the Federal Deposit Insurance Corporation (FDIC),

Federal Savings and Loan Insurance Corporation (FSLIC), andNational

Credit Union Administration (NCUA) insurance funds and their failed

institution liquidation operations and to a recently begun survey of

the effectiveness of the Federal Financial Institutions Examination

Council.

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