Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

International Affairs: Funding Foreign Bank Examinations

  Premium   Download PDF Now (6 pages)
Report Type Reports and Testimonies
Report Date May 4, 1993
Report No. GGD-93-35R
Subject
Summary:

GAO reviewed the implementation of the Foreign Bank Supervision Enhancement Act of 1991 (FBSEA). GAO noted that: (1) the Federal Reserve is planning to hire additional staff to meet its new responsibilities; (2) although the Federal Reserve has completed many examinations pursuant to its responsibilities under FBSEA, it has not charged foreign banks for any examination costs; and (3) if the Federal Reserve is required to charge foreign banks for examination costs, the charging of such costs may result in a competitive disadvantage to foreign banks.

« Return to search Government Accountability Office reports