Page:United States Statutes at Large Volume 92 Part 1.djvu/679

 PUBLIC LAW 95-369—SEPT. 17, 1978

92 STAT. 625

(b) In addition to any powers, remedies, or sanctions otherwise provided by law, compliance with the requirements imposed under this Act or any amendment made by this Act may be enforced under section 8 of the Federal Deposit Insurance Act by any appropriate 12 USC 1818. Federal banking agency as defined in that Act. (c) In the case of any provision of the Federal Reserve Act to 12 USC 226. which a foreign bank or branch thereof is subject under this Act, and which is made applicable to nonmember insured banks by the Federal Deposit Insurance Act, whether by cross-reference to the 12 USC 1811 Federal Reserve Act or by a provision in substantially the same terms note. in the Federal Deposit Insurance Act, the administration, interpretation, and enforcement of such provision, insofar as it relates to any foreign bank or branch thereof as to which the Board is an appropriate Federal banking agency, are vested in the Board, but where the making of any report to the Board or a Federal Reserve bank is required under any such provision, the Federal Deposit Insurance Corporation may require that a duplicate of any such report be sent directly to it. This subsection shall not be construed to impair any power of the Federal Deposit Insurance Corporation to make regular or special examinations or to require special reports. REPORT ON MC FADDEN ACT

SEC. 14. (a) The President, in consultation with the Attorney 12USe36note. General, the Secretary of the Treasury, the Board, the Comptroller, and the Federal Deposit Insurance Corporation, shall transmit a report to the Congress containing his recommendations concerning the applicability of the McFadden Act to the present financial, bank- 44 Stat. 1224. ing, and economic environment, including an analysis of the effects of any proposed amendment to such Act on the structure of the banking industry and on the financial and economic environment in general. (b) The report required by subsection (a) shall be transmitted to the Transmittal to Congress not later than one year after the date of enactment of this Congress, effective Act. date.

Approved September 17, 1978.

LEGISLATIVE HISTORY: HOUSE REPORT No. 95-910 (Comm. on Banking, Finance and Urban Affairs). SENATE REPORT No. 95-1073 (Comm. on Banking, Housing, and Urban Affairs). CONGRESSIONAL RECORD, VoL 124 (1978): Apr. 6, considered and passed House. Aug. 15, considered and passed Senate, amended. Aug. 17, House concurred in Senate amendment.

�