General Accounting Office Report on the Federal Reserve System: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Fourth Congress, Second Session, on Recommendations Made by the General Accounting Office in Its June 1996 Report ... July 26, 1996, Volume 4U.S. Government Printing Office, 1997 - 481 pages |
Contents
| 1 | |
| 38 | |
| 48 | |
| 98 | |
| 104 | |
| 126 | |
| 135 | |
| 142 | |
| 148 | |
| 155 | |
| 271 | |
| 279 | |
| 295 | |
| 311 | |
| 329 | |
| 343 | |
| 358 | |
| 417 | |
| 438 | |
| 446 | |
| 459 | |
| 465 | |
| 471 | |
| 477 | |
| 478 | |
Other editions - View all
Common terms and phrases
12 Reserve Banks activities addition agencies annual approval areas assess assets audit authority automation Bank Act Bank of Canada Bank of France bank regulation Bank Regulatory Structure bank supervision Bank's believe benefits billion Board of Governors BOWSHER budget building Bundesbank capital CDIC central bank Chairman Greenspan changes Chapter 1 Introduction Committee conduct Congress consolidation costs credit institutions deposit insurance directors effective employees ensure external auditors FBSO FDIC Federal Reserve Act Federal Reserve Banks Federal Reserve Board Federal Reserve Operating Federal Reserve System Fedwire financial institutions financial services functions funds increase institution's internal issues major Minister of Finance monetary policy operating expenses OSFI oversight payments system percent personnel priced services programs recommendations reduce Reserve's responsibilities revenues risk role salary securities spending staff staffing strategic planning supervision and regulation supervisory surplus account Treasury
Popular passages
Page 124 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 104 - ... conducting monetary policy, maintaining the stability of financial markets, providing services to financial institutions and government agencies, and supervising and regulating banks and bank-holding companies. The Federal Reserve is unique among governmental entities in its mission, structure, and finances. Unlike federal agencies funded through congressional appropriations, the Federal Reserve is a self-financing entity that deducts its expenses from its revenue and transfers the remaining...
Page 131 - Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers...
Page 181 - ... than to maximize the amount transferred to Treasury, its revenues contribute to total US revenues and, thus, can help reduce the federal deficit. One way to enhance the Federal Reserve's revenue would be to charge fees for bank examinations, thus increasing the Federal Reserve's return to taxpayers. The Federal Reserve Act authorizes the Federal Reserve to charge fees for bank examinations, but the Federal Reserve has not done so, either for the state-member banks it examines or the bank-holding...
Page 45 - From 1968 to 1971, he served as a director of the Los Angeles branch of the Federal Reserve Bank of San Francisco and during 1969 was its chairman.
Page 39 - Mr. Chairman, this concludes my prepared statement. We would be happy to answer any questions you may have.
Page 206 - Inspector General Act of 1978". PURPOSE; ESTABLISHMENT SEC. 2. In order to create independent and objective units — (1) to conduct and supervise audits and investigations relating to programs and operations of * * * the...
Page 216 - ... process redesign typically fail or reach only a fraction of their potential. Those that ignore technology usually leave significant opportunities on the table. Using business process reengineering to drive information systems initiatives can lead to order-of-magnitude customer satisfaction and/or cost savings, rather than the marginal efficiency gains normally associated with initiatives that use technology to do the same work, the same way, only faster. On the other hand, if several process...
Page 45 - Reserve's financial statements, nor have they affected the Federal Reserve's calculation of the money supply, its conduct of monetary policy, or the amount of shipments of currency and coin to or from the Branch.
Page 146 - Through several recent pieces of legislation, particularly the Fi-nancial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and the Federal Deposit Insurance Corporation Improvement Act of 1991...