§2257 — Title 12 Banks and Banking | U.S. Code

Summary

Federal agencies and federal bank regulators can, under rules they set, give the Farm Credit Administration confidential reports and records. These must cover the financial condition of any group a Farm Credit System institution has lent to or plans to lend to, discounts paper for, or uses or plans to use as a securities custodian or depository. When Federal Reserve banks act as depositories, agents, or custodians for bonds or book entries issued by Farm Credit System banks, they must let Farm Credit Administration examiners audit the relevant books and financial records when asked.

Title 12, §2257

Banks and Banking — Source: USLM XML via OLRC

The executive departments, boards, commissions, and independent establishments of the Government of the United States, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Reserve banks are severally authorized under such conditions as they may prescribe, upon request of the Farm Credit Administration, to make available to it or to any institution of the System in confidence all reports, records, or other information relating to the condition of any organization to which such institution of the System has made or contemplates making loan or for which it has or contemplates discounting paper, or which it is using or contemplates using as a custodian of securities or other credit instruments, or a depository. The Federal Reserve banks in their capacity as depositories, agents, and custodians for bonds, debentures, and other obligations issued by the banks of the System or book entries thereof are also authorized and directed, upon request of the Farm Credit Administration, to make available for audit by farm credit examiners all appropriate books, accounts, financial records, files, and other papers.

Editorial Notes

Prior Provisions

A prior section 5.22 of Pub. L. 92–181 was renumbered section 5.21 and is classified to section 2256 of this title.

§2257 Reports on conditions of institutions receiving loans or deposits

Summary

Title 12, §2257

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Citations & Metadata