12-U.S.C.-1440
§1440 – Examinations and Audits
Pathway
Title 12 > Chapter 11 > Section 1440
Details
- Reference: Section 1440
- Legend: §1440 – Examinations and Audits
- USCode Year: 2013
Provision Content
The Director shall from time to time, at least annually, require examinations and reports of condition of all Federal Home Loan Banks in such form as the Director shall prescribe and shall furnish periodically statements based upon the reports of the banks to the Director. For the purposes of this chapter, examiners appointed by the Director 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 et seq.] and the Federal Reserve Act [12 U.S.C. 221 et seq.], and shall have, in the exercise of functions under this chapter, the same powers and privileges as are vested in such examiners by law. In addition to such examinations, the Comptroller General may audit or examine the Director and the Banks, to determine the extent to which the Director and the Banks are fairly and effectively fulfilling the purposes of this chapter.
(July 22, 1932, ch. 522, §20, 47 Stat. 738; June 27, 1950, ch. 369, §10, 64 Stat. 259; Aug. 2, 1954, ch. 649, title VIII, §802(f), 68 Stat. 643; Pub. L. 101–73, title VII, §§701(b)(1), (3)(A), 702(b), Aug. 9, 1989, 103 Stat. 412, 415; Pub. L. 110–289, div. A, title II, §1204(8), (9), July 30, 2008, 122 Stat. 2786.)
References in Text
The National Bank Act, referred to in text, is act June 3, 1864, ch. 106, 13 Stat. 99, as amended, which is classified principally to chapter 2 (§21 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 38 of this title.
The Federal Reserve Act, referred to in text, is act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, which is classified principally to chapter 3 (§221 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
Amendments
2008—Pub. L. 110–289 substituted The Director for The Board and the Director for the Board wherever appearing.
1989—Pub. L. 101–73, §702(b), inserted provisions relating to audit or examination by the Comptroller General.
Pub. L. 101–73, §701(b)(1), (3)(A), substituted Board for board wherever appearing.
1954—Act Aug. 2, 1954, struck out second sentence relating to annual report of the board to Congress. See section 1437(b) of this title.
1950—Act June 27, 1950, struck out twice before annually.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-1438A in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-1438A, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-1430B in the Legal Encyclopedia: Loans
In this entry about 12-U.S.C.-1430B, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.
12-U.S.C.-1430A in the Legal Encyclopedia: Housing
In this entry about 12-U.S.C.-1430A, find legal reference material, bibliographies and premiere content related to housing in the American Encyclopedia of Law, presenting a comprehensive view of the United States housing-specific issues, written by authorities in the field.
12-U.S.C.-1434 in the Legal Encyclopedia: Banks
In this entry about 12-U.S.C.-1434, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.
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