12 U.S.C. § 635a–7 — Independent audit of bank portfolio
submitted 11 years ago by Pub. L. 114-94 to r/title-12-BANKS-AND-BANKING · 122 words · no verdicts yet
The Bank's Inspector General must audit or evaluate its portfolio-risk-management procedures, including the Chief Risk Officer's assigned duties. The Inspector General must report the findings and determinations to two congressional committees on a recurring schedule.
(a) Audit. The Bank's Inspector General must audit or evaluate the Bank's portfolio-risk-management procedures. This must include reviewing how the Bank carried out the Chief Risk Officer's duties under section 635a(l) of this title, as amended by section 51005.
(b) Report. No later than one year after December 4, 2015, and at least once every three years afterward, the Inspector General must send a written report to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services. The report must contain every finding and determination made under subsection (a).
The Inspector General of the Export-Import Bank of the United States shall conduct an audit or evaluation of the portfolio risk management procedures of the Bank, including a review of the implementation by the Bank of the duties assigned to the Chief Risk Officer under section 635a(l) of this title, as amended by section 51005.
Not later than 1 year after December 4, 2015, and not less frequently than every 3 years thereafter, the Inspector General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a written report containing all findings and determinations made in carrying out subsection (a).
Source credit: (Pub. L. 114–94, div. E, title LI, § 51007, Dec. 4, 2015, 129 Stat. 1766.)
- 2015Enacted · Pub. L. 114-94 · 129 Stat. 1766
A history note hasn’t been published yet. The record shows enactment by Pub. L. 114-94 on 2015-12-04.
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