§ 3301. — Declaration of purpose.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
TITLE 12--BANKS AND BANKING
CHAPTER 34--FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
Sec. 3301. Declaration of purpose
It is the purpose of this chapter to establish a Financial
Institutions Examination Council which shall prescribe uniform
principles and standards for the Federal examination of financial
institutions by the Office of the Comptroller of the Currency, the
Federal Deposit Insurance Corporation, the Board of Governors of the
Federal Reserve System, the Federal Home Loan Bank Board, and the
National Credit Union Administration and make recommendations to promote
uniformity in the supervision of these financial institutions. The
Council's actions shall be designed to promote consistency in such
examination and to insure progressive and vigilant supervision.
(Pub. L. 95-630, title X, Sec. 1002, Nov. 10, 1978, 92 Stat. 3694.)
Chapter effective upon the expiration of 120 days after Nov. 10,
1978, see section 2101 of Pub. L. 95-630, set out as a note under
section 375b of this title.
Section 1001 of title X of Pub. L. 95-630 provided that: ``This
title [enacting this chapter and amending section 67 of former Title 31,
Money and Finance] may be cited as the `Federal Financial Institutions
Examination Council Act of 1978'.''
Transfer of Functions
Federal Home Loan Bank Board abolished and functions transferred,
see sections 401 to 406 of Pub. L. 101-73, set out as a note under
section 1437 of this title.