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12 U.S.C. § 2258 — Reports on conditions of institutions receiving loans or deposits
Federal law — U.S. Code and appendices · legal_authorities
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.
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Source file: Laws/federal/codes/united-states-code/title-12/section-2258-reports-on-conditions-of-institutions-receiving-loans-or-deposits--0983bc27a7.md
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Source location: Title 12, Chapter 23, § 2258; chapter-023-farm-credit-system.md
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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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Scope and frequency of examinations; power, authority, and liability of examiners** Each institution of the System shall be examined by Farm Credit Administration examiners at such times as the Board may determine, but in no event less than once during each 18-month period. Such examinations may include, if appropriate, but are not limited to, an analysis of credit and collateral quality and capitalization of the institution, and appraisals of the effectiveness of the institution’s management and application of policies governing the carrying out of this chapter and regulations of the Farm Credit Administration and servicing all eligible borrowers. Examination of banks shall include an analysis of the compensation paid to the chief executive officer and the salary scales of the employees of the bank. At the direction of the Board, Farm Credit Administration examiners also shall make examinations of the condition of any organization, other than federally regulated financial institutions, to, for, or with which any institution of the System contemplates making a loan or discounting paper. For the purposes of this chapter, examiners of the Farm Credit Administration shall be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the National Bank Act [[12 U.S.C. 21](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section21&num=0&edition=prelim) et seq.], the Federal Reserve Act [[12 U.S.C. 221](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim) et seq.], and Federal Deposit Insurance Act [[12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) et seq.], and other provisions of law and s
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2256
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Federal law — U.S. Code and appendices · legal_authorities
Whenever it is determined by the Farm Credit Administration, or by judicial decision, that a State law is applicable to the obligations and securities authorized to be held by the institutions of the System under this chapter, which law would provide insufficient protection or inadequate safeguards against loss in the event of default, the Farm Credit Administration may declare such obligations or securities to be ineligible as collateral for the issuance of new notes, bonds, debentures, and other obligations under this chapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2261
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Federal law — U.S. Code and appendices · legal_authorities
Page 1362
TITLE 12—BANKS AND BANKING
§ 2256
(Pub. L. 92–181, title V, § 5.20, formerly § 5.21,
Dec. 10, 1971, 85 Stat. 623; renumbered § 5.20, Pub.
L. 99–205, title II, § 203(b), Dec. 23, 1985, 99 Stat.
1694.)
Editorial Notes
PRIOR PROVISIONS
A prior section 5.20 of Pub. L. 92–181 was renumbered
section 5.19 and is classified to section 2254 of this title.
§ 2256. Consent to the availability of reports and
to examinations
Any organization other than State banks,
trust companies, and savings associations shall,
as a condition precedent to securing discount
privileges with a bank of the Farm Credit Sys-
tem, file with such bank its written consent to
examination by farm credit examiners as may
be directed by the Farm Credit Administration;
and State banks, trust companies, and savings
associations may be required in like manner to
file a written consent that reports of their ex-
amination by constituted State authorities may
be furnished by such authorities upon the re-
quest of the Farm Credit Administration.
(Pub. L. 92–181, title V, § 5.21, formerly § 5.22,
Dec. 10, 1971, 85 Stat. 623; renumbered § 5.21, Pub.
L. 99–205, title II, § 203(b), Dec. 23, 1985, 99 Stat.
1694.)
Editorial Notes
PRIOR PROVISIONS
A prior section 5.21 of Pub. L. 92–181 was renumbered
section 5.20 and is classified to section 2255 of this title.
§ 2257. Reports on conditions of institutions re-
ceiving loans or deposits
The executive departments, boards, commis-
sions, 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 Re-
serve banks are severally authorized under such
conditions as they may prescribe,
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2258
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