12 U.S.C. § 1442 : US Code - Section 1442: Member financial information

Search 12 U.S.C. § 1442 : US Code - Section 1442: Member financial information

(a) In general
In order to enable the Federal Home Loan Banks to carry out the
provisions of this chapter, the Secretary of the Treasury, the
Comptroller of the Currency, the Chairman of the Board of Governors
of the Federal Reserve System, the Chairperson of the Federal
Deposit Insurance Corporation, the Chairperson of the National
Credit Union Administration, and the Director of the Office of
Thrift Supervision, upon request by any Federal Home Loan Bank -
(1) shall make available in confidence to any Federal Home Loan
Bank, such reports, records, or other information as may be
available, relating to the condition of any member of any Federal
Home Loan Bank or any institution with respect to which any such
Bank has had or contemplates having transactions under this
chapter; and
(2) may perform through their examiners or other employees or
agents, for the confidential use of the Federal Home Loan Bank,
examinations of institutions for which such agency is the
appropriate Federal banking regulatory agency.
In addition, the Comptroller of the Currency, the Chairman of the
Board of Governors of the Federal Reserve System, the Chairperson
of the National Credit Union Administration, and the Director of
the Office of Thrift Supervision shall make available to the Board
or any Federal Home Loan Bank the financial reports filed by
members of any Bank to enable the Board or a Bank to compile and
publish cost of funds indices or other financial or statistical
reports.
(b) Consent by members
Every member of a Federal Home Loan Bank shall, as a condition
precedent thereto, be deemed -
(1) to consent to such examinations as the Bank or the Board
may require for the purposes of this chapter;
(2) to agree that reports of examinations by local, State, or
Federal agencies or institutions may be furnished by such
authorities to the Bank or the Board upon request; and
(3) to agree to give the Bank or the Federal agency, upon
request, such information as they may need to compile and publish
cost of funds indices and to publish other reports or statistical
summaries pertaining to the activities of Bank members.