RECENT BANK CLOSINGS US Congress, House.) 4 - JUL 1 2 1971 HEARING BEFORE THE COMMITTEE ON BANKING AND CURRENCY NINETY-SECOND CONGRESS FIRST SESSION ON THE ACTIVITIES OF THE FEDERAL DEPOSIT INSURANCE 62-214 MARCH 9, 1971 Printed for the use of the Committee on Banking and Currency U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1971 WILLIAM A. BARRETT, Pennsylvania HENRY S. REUSS, Wisconsin WILLIAM S. MOORHEAD, Pennsylvania WILLIAM B. WIDNALL, New Jersey LAWRENCE G. WILLIAMS, Pennsylvania MARGARET M. HECKLER, Massachusetts PHILIP M. CRANE, Illinois JOHN H. ROUSSELOT, California STEWART B. MCKINNEY, Connecticut BILL FRENZEL, Minnesota PAUL NELSON, Clerk and Staff Director JOSEPH C. LEWIS, Professional Staff Member ORMAN S. FINK, Minority Staff Member (11) GL 30 by 71 KFz9 CONTENTS Bank of Wheeling, W. Va., statement on- Letter dated March 22, 1971, to Chairman Patman with a summary of statutory changes in the deposit insurance assessment rate and the FDIC estimate of the effect of change on the size of the Federal Letter dated March 23, 1971, to Hon. Garry Brown, with attached Letter dated March 23, 1971, to Hon. J. William Stanton, with an attached table listing correlation between date of bank closing and Letter dated March 26, 1971, to Hon. William A. Barrett with attached Submission of material with respect to relationship of Federal Deposit Insurance Corporation and the Presidential Commission on Financial Letter dated June 8, 1971, to Chairman Patman, with attached draft of legislation, "To amend section 8 of the Federal Deposit Insurance Act, |