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National Consumer Cooperative Bank: Oversight Adequate But Federal Loan Repayment Needs Monitoring

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Report Type Reports and Testimonies
Report Date Feb. 24, 1995
Report No. GGD-95-63
Subject
Summary:

Congress created the National Consumer Cooperative Bank to provide financial and technical assistance to cooperatives to increase their contribution to the nation's economy. Although the Farm Credit Administration (FCA) examines the Bank, which holds about $536 million in assets, Congress did not assign regulatory or enforcement powers over the Bank to FCA or any federal financial regulator. The Treasury Department holds $183 million in debt that the Bank must repay by 2020. This report examines (1) the ability of the present oversight arrangement to effectively monitor the Bank's safety and soundness and (2) the Bank's obligation to repay the Treasury debt.

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