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U.S. Code as of:
01/19/04
Section 1440. Examinations and audits
The Board shall from time to time, at least annually, require
examinations and reports of condition of all Federal Home Loan
Banks in such form as the Board shall prescribe and shall furnish
periodically statements based upon the reports of the banks to the
Board. For the purposes of this chapter, examiners appointed by the
Board shall be subject to the same requirements, responsibilities,
and penalties as are applicable to examiners under the National
Bank Act [12 U.S.C. 21 et seq.] and the Federal Reserve Act [12
U.S.C. 221 et seq.], and shall have, in the exercise of functions
under this chapter, the same powers and privileges as are vested in
such examiners by law. In addition to such examinations, the
Comptroller General may audit or examine the Board and the Banks,
to determine the extent to which the Board and the Banks are fairly
and effectively fulfilling the purposes of this chapter.
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