12 U.S.C. § 3901 — Congressional declaration of policy
submitted 43 years ago by Pub. L. 98-181 to r/title-12-BANKS-AND-BANKING · 106 words · no verdicts yet
This section states a policy against imprudent international lending and inadequate supervision. It directs stronger regulation and international coordination.
(a)(1) Congress’s policy is to protect the economic health and stability of the United States and other countries from future harm or threats caused by imprudent lending or inadequate supervision. (2) This is to be done by strengthening bank regulation so private decisions are prudent and by improving cooperation among international bank regulators. (b) Federal banking agencies must consult with foreign banking supervisors to reach understandings aimed at effective and consistent supervision of international lending.
It is the policy of the Congress to assure that the economic health and stability of the United States and the other nations of the world shall not be adversely affected or threatened in the future by imprudent lending practices or inadequate supervision.
This shall be achieved by strengthening the bank regulatory framework to encourage prudent private decisionmaking and by enhancing international coordination among bank regulatory authorities.
The Federal banking agencies shall consult with the banking supervisory authorities of other countries to reach understandings aimed at achieving the adoption of effective and consistent supervisory policies and practices with respect to international lending.
Source credit: (Pub. L. 98–181, title I [title IX, § 902], Nov. 30, 1983, 97 Stat. 1278.)
- 1983Enacted · Pub. L. 98-181 · 97 Stat. 1278
A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-181 on 1983-11-30.
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