§ 161. — Reports to Comptroller of the Currency.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC161]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER X--BANK EXAMINATIONS; REPORTS
Sec. 161. Reports to Comptroller of the Currency
(a) Reports of condition; form; contents; date of making; publication
Every association shall make reports of condition to the Comptroller
of the Currency in accordance with the Federal Deposit Insurance Act [12
U.S.C. 1811 et seq.]. The Comptroller of the Currency may call for
additional reports of condition, in such form and containing such
information as he may prescribe, on dates to be fixed by him, and may
call for special reports from any particular association whenever in his
judgment the same are necessary for his use in the performance of his
supervisory duties. Each report of condition shall contain a declaration
by the president, a vice president, the cashier, or by any other officer
designated by the board of directors of the bank to make such
declaration, that the report is true and correct to the best of his
knowledge and belief. The correctness of the report of condition shall
be attested by the signatures of at least three of the directors of the
bank other than the officer making such declaration, with the
declaration that the report has been examined by them and to the best of
their knowledge and belief is true and correct. Each report shall
exhibit in detail and under appropriate heads the resources and
liabilities of the association at the close of business on any past day
specified by the Comptroller, and shall be transmitted to the
Comptroller within the period of time specified by the Comptroller.
Special reports called for by the Comptroller need contain only such
information as is specified by the Comptroller in his request therefor,
and publication of such reports need be made only if directed by the
Comptroller.
(b) Payment of dividends
Every association shall make to the Comptroller reports of the
payment of dividends, including advance reports of dividends proposed to
be declared or paid in such cases and under such conditions as the
Comptroller deems necessary to carry out the purposes of the laws
relating to national banking associations in such form and at such times
as he may require.
(c) Reports of affiliates; form; contents; date of making; publication;
penalties
Each national banking association shall obtain from each of its
affiliates other than member banks and furnish to the Comptroller of the
Currency not less than four reports during each year, in such form as
the Comptroller may prescribe, verified by the oath or affirmation of
the president or such other officer as may be designated by the board of
directors of such affiliate to verify such reports, disclosing the
information hereinafter provided for as of dates identical with those
for which the Comptroller shall during such year require the reports of
the condition of the association. Each such report of an affiliate shall
be transmitted to the Comptroller at the same time as the corresponding
report of the association, except that the Comptroller may, in his
discretion, extend such time for good cause shown. Each such report
shall contain such information as in the judgment of the Comptroller of
the Currency shall be necessary to disclose fully the relations between
such affiliate and such bank and to enable the Comptroller to inform
himself as to the effect of such relations upon the affairs of such
bank. The Comptroller shall also have power to call for additional
reports with respect to any such affiliate whenever in his judgment the
same are necessary in order to obtain a full and complete knowledge of
the conditions of the association with which it is affiliated. Such
additional reports shall be transmitted to the Comptroller of the
Currency in such form as he may prescribe.
(R.S. Sec. 5211; Feb. 27, 1877, ch. 69, Sec. 1, 19 Stat. 252; Dec. 28,
1922, ch. 18, 42 Stat. 1067; Feb. 25, 1927, ch. 191, Sec. 13, 44 Stat.
1232; June 16, 1933, ch. 89, Sec. 27, 48 Stat. 191; Pub. L. 86-230,
Secs. 11, 22(b), Sept. 8, 1959, 73 Stat. 458, 466; Pub. L. 86-671,
Sec. 5, July 14, 1960, 74 Stat. 551; Pub. L. 89-485, Sec. 13(d), July 1,
1966, 80 Stat. 243; Pub. L. 101-73, title IX, Sec. 911(b)(1), Aug. 9,
1989, 103 Stat. 478; Pub. L. 103-325, title III, Sec. 308(a), Sept. 23,
1994, 108 Stat. 2218.)
References in Text
The Federal Deposit Insurance Act, referred to in subsec. (a), is
act Sept. 21, 1950, ch. 967, Sec. 2, 64 Stat. 873, as amended, which is
classified generally to chapter 16 (Sec. 1811 et seq.) of this title.
For complete classification of this Act to the Code, see Short Title
note set out under section 1811 of this title and Tables.
Codification
R.S. Sec. 5211 derived from act June 3, 1864, ch. 106, Sec. 34, 13
Stat. 109, which was the National Bank Act, and act Mar. 3, 1869, ch.
130, Sec. 1, 15 Stat. 326. See section 38 of this title.
Amendments
1994--Subsec. (a). Pub. L. 103-325, Sec. 308(a)(1), struck out
before period at end of fifth sentence ``; and the statement of
resources and liabilities in the same form in which it is made to the
Comptroller shall be published in a newspaper published in the place
where such association is established, or if there is no newspaper in
the place, then in the one published nearest thereto in the same county,
at the expense of the association, and such proof of publication shall
be furnished as may be required by the Comptroller''.
Subsec. (c). Pub. L. 103-325, Sec. 308(a)(2), struck out after third
sentence ``The reports of such affiliates shall be published by the
association under the same conditions as govern its own condition
reports.''
1989--Subsec. (a). Pub. L. 101-73, Sec. 911(b)(1)(A), in fifth
sentence substituted ``within the period of time specified by the
Comptroller'' for ``within ten days after the receipt of a request
therefor from him''.
Subsec. (c). Pub. L. 101-73, Sec. 911(b)(1)(B), struck out at end
``Any such affiliated bank which fails to obtain and furnish any report
required under this section shall be subject to a penalty of $100 for
each day during which such failure continues.''
1966--Subsec. (c). Pub. L. 89-485 struck out second sentence stating
that the term ``affiliate'' shall include holding company affiliates as
well as other affiliates.
1960--Subsec. (a). Pub. L. 86-671, Sec. 5(a), designated existing
provisions of former first par. as subsec. (a), substituted provisions
relating to the making of reports of condition in accordance with the
Federal Deposit Insurance Act and additional reports of condition
containing declaration of officer for former provisions requiring
minimum of three reports annually verified by an officer, inserted
provisions respecting contents and publication of special reports and
deleted requirement for making reports of payment of dividends, which is
incorporated in subsec. (b) of this section.
Subsec. (b). Pub. L. 86-671, Sec. 5(a), designated existing
provisions of former first par. as subsec. (b).
Subsec. (c). Pub. L. 86-671, Sec. 5(b), designated existing
provisions of former second par. as subsec. (c) and substituted ``four''
for ``three'' in first sentence.
1959--Pub. L. 86-230 required transmission of reports to the
Comptroller within ten instead of five days and the making of reports of
the payment of dividends including advance reports of dividends proposed
to be declared or paid, respectively.
1933--Act June 16, 1933, added second par.
1927--Act Feb. 25, 1927, inserted ``or of a vice-president, or of an
assistant cashier of the association designated by its board of
directors to verify such reports in the absence of the president and
cashier, taken before a notary public properly authorized and
commissioned by the State in which such notary resides and the
association is located, or any other officer having an official seal,
authorized in such State to administer oaths'' in first sentence, and
``and the statement of resources and liabilities together with
acknowledgment and attestation'', in second sentence.
Effective Date of 1989 Amendment
Section 911(i)[(g)] of Pub. L. 101-73 provided that: ``The
amendments made by this section [amending this section and sections 164,
324, 1782, 1817, 1847, and 1882 of this title] shall apply with respect
to reports filed or required to be filed after the date of the enactment
of this Act [Aug. 9, 1989].''
Effective Date of 1960 Amendment
Amendment by Pub. L. 86-671 effective Jan. 1, 1961, see section 7 of
Pub. L. 86-671, set out as a note under section 1817 of this title.
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the
Currency, referred to in this section, not included in transfer of
functions to Secretary of the Treasury, see note set out under section 1
of this title.
Section Referred to in Other Sections
This section is referred to in section 164 of this title; title 7
section 6f; title 15 sections 78o-5, 78q.
