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127875 1 (1985-09-12)

handle is hein.gao/gaobactne0001 and id is 1 raw text is: 




             UNITED STATES GENERAL ACCOUNTING OFFICE
                     WASHINGTON, D.C.   20548

                                          FOR RELEASE ON DELIVERY
                                          EXPECTED AT 10 A.M.
                                          SEPTEMBER 12, 1985



                          STATEMENT OF

                   FREDERICK D. WOLF, DIRECTOR

          ACCOUNTING AND FINANCIAL MANAGEMENT DIVISION

                           BEFORE THE

 SUBCOMMITTEE ON FINANCIAL  INSTITUTIONS SUPERVISION, REGULATION

                          AND INSURANCE

                             OF THE

      HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS

                            ON GAO'S

              1984 FINANCIAL AUDITS OF THE FEDERAL

   DEPOSIT INSURANCE CORPORATION AND FEDERAL SAVINGS AND LOAN

                      INSURANCE CORPORATION



Mr. Chairman and Members of the Subcommittee:

     I am pleased to be here today to discuss our most  recent

financial audits of the federal depository  institution

regulators.  Recently, much public concern has been expressed

regarding the stability of the nation's financial  institutions.

The number of federally insured banks and savings and  loans

which was closed in 1984 was a post depression high, and

the failure rate in 1985 has exceeded that pace.  Perhaps more

importantly, the number of so called problem institutions grows

each time it is reported.

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