View all text of Chapter 16 [§ 1811 - § 1835a]
§ 1827. Reports by Corporation; audit of financial transactions; report on audits; employment of certified public accountants for audits
(a) Annual reports on the Deposit Insurance Fund and the FSLIC Resolution Fund
(1) In general
The Corporation shall annually submit a full report of its operations, activities, budget, receipts, and expenditures for the preceding 12-month period. The report shall include, with respect to the Deposit Insurance Fund and the FSLIC Resolution Fund, an analysis by the Corporation of—
(A) the current financial condition of each such fund;
(B) the purpose, effect, and estimated cost of each resolution action taken for an insured depository institution during the preceding year;
(C) the extent to which the actual costs of assistance provided to, or for the benefit of, an insured depository institution during the preceding year exceeded the estimated costs of such assistance reported in a previous year under paragraph (A);
(D) the exposure of the Deposit Insurance Fund to changes in those economic factors most likely to affect the condition of that fund;
(E) a current estimate of the resources needed for the Deposit Insurance Fund or the FSLIC Resolution Fund to achieve the purposes of this chapter; and
(F) any findings, conclusions, and recommendations for legislative and administrative actions considered appropriate to future resolution activities by the Corporation.
(2) Manner of submission
(3) Coordination with other report requirements
(b) Quarterly reports to Treasury
(1) Financial operating plans and forecasts
(2) Financial condition and reports of operations
(3) Items to be included
(4) Rule of construction
(c) Reports to OMB
(1) Financial information
(2) Financial operating plans and forecasts
(3) Rule of construction
(d) Audit
(1) Audit required
(2) Access to books and records
(e) Audit of Corporation
(f) Report of audit
(g) Assistance in audit; costs
(Sept. 21, 1950, ch. 967, § 2[17], 64 Stat. 890; Pub. L. 93–604, title VI, § 602, Jan. 2, 1975, 88 Stat. 1963; Pub. L. 101–73, title II, § 220(a), Aug. 9, 1989, 103 Stat. 263; Pub. L. 102–242, title IV, § 427, Dec. 19, 1991, 105 Stat. 2378; Pub. L. 104–208, div. A, title II, § 2704(d)(14)(S), (T), Sept. 30, 1996, 110 Stat. 3009–493, 3009–494; Pub. L. 106–569, title XI, §§ 1103(a), 1104(b), Dec. 27, 2000, 114 Stat. 3030, 3032; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814; Pub. L. 109–171, title II, § 2102(b), Feb. 8, 2006, 120 Stat. 9; Pub. L. 109–173, § 8(a)(26), (27), Feb. 15, 2006, 119 Stat. 3614, 3615.)