William Bryan: “The responsibility of the small bank is simply to make available to the bank examiner, when he or she comes in…”

“The responsibility of the small bank is simply to make available to the bank examiner, when he or she comes in periodically or when the examiner is reviewing the records for an application, the fact that the bank is serving the community. Moreover, the standards which are required for a larger bank dealing with a lending standard, a service standard and investment standard are inapplicable to small banks. In trying to balance the inequities here, as I know the distinguished Senator from Maryland is interested in doing and all of us share in a very bipartisan way, dealing with the very special concerns of small banks has been addressed, we have eliminated the reporting requirement and have simply said, if I might respond to my friend from Maryland, that when the bank examiner comes in, the only obligation on the part of the financial institution is to direct the bank examiner to the file drawer and say, ``Those are our records.''”