EXECUTIVE OFFICE OF THE PRESIDENT OFFICE OF MANAGEMENT AND BUDGET WASHINGTON, D.C. 20503

STATEMENT OF ADMINISTRATION POLICY
(THIS STATEMENT HAS BEEN COORDINATED BY OMB WITH THE CONCERNED AGENCIES.)

February 24, 1998 (House)

H.R. 3116 - Examination Parity and Year 2000 Readiness for Financial Institutions Act (Leach (R) IA and 5 cosponsors)

The Administration supports House passage of H.R. 3116, which would: (1) require Federal financial regulatory agencies to hold seminars for financial institutions on the implications of the Year 2000 problem; and (2) extend authority to the Office of Thrift Supervision and the National Credit Union Administration to examine the operations of service corporations or other entities that perform services under contract for thrifts and credit unions.