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

Summary

Federal agencies and banking regulators can, under their own rules and when asked, give confidential reports and records to the Farm Credit Administration or to a Farm Credit System institution. The information can be about any organization the Farm Credit System has lent to or plans to lend to, discounts paper for, or uses or plans to use as a custodian of securities or as a depository. Federal Reserve banks that act as depositories or custodians for bonds, debentures, or other obligations of Farm Credit System banks must, when requested by the Farm Credit Administration, let farm credit examiners inspect and audit the relevant books, accounts, financial records, files, and papers.

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