Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-06-30
Saxon Orders Exchange Of Bank Data
And Resumes Bulletins on His Actions
Newest Summary
Will Meet Pleas
For information
By DONALD b. HADLEY
Star Financial Editor

By DONALD b. HADLEY
.r-. star Financial Editor
Controller of the Currency
James j. Saxon has asked all
regional chief National Bank
examiners to work out specific
arrangements for an exchange
of data with State bank super
visory authorities and will re-
sumo publication of regular
bulletin summarizing his own
actions as supervisor of Nation
al Banks.
Arrangements for exchange
of information should be made
with State authorities who have
requested such an exchange,
they must be specific and on a
precise reciprocal basis, Mr..
Saxon notified regional officials.
The first issue Of bi-weekly
summary will be dated June 80,
Mr.. Saxon also announced yes
terday. 1t will take the place OF
a weekly bulletin, which was
discontinued last April. Re-
sumption of the summary came
in response to many requests
for information, the announce
ment said.
July Is Reports Asked
Mr.. Saxon's order to regional
chief examiners asked that each
submit a report on July Is
showing what arrangements
have been made with each State
banking authority.
"If you have not already
done so, you should work out
specific arrangements for the
precise reciprocal exchange OF
information with state bank
supervisory authorities who
have expressed their willing
mess to cooperate in this way"
said the controllers order
signed by A. j. Faulstich. his
administrative assistant.
Arrangements with a state
bank supervisory authority on
the exchange of information
as to the receipt of applica-
lions must include his agree
iment to inform you of all APP
locations he now has no hand,
including any on which action
is being withheld" the order
added. "You are requested to
submit a report on July is
showing what arrangements
you have with each state bank
supervisory authority in your
region"
Noting that regional chief
examiners already have made
reciprocal agreements with
some state supervisors, the
order said the controller has
forwarded letters of state
authorities requesting reciproc-
ity and that undoubtedly other
requests had been received by
the regional offices.
PriOrities Rejected
Mr.. Saxon's move to clarity
relations of his office with each
state supervisor came only a
few days after he rejected a
request from the National As
sociation of Supervisors of
State Banks that he reinState
an agreement that his office
and state authorities respect
''date priorities" in considering
applications Of State and Ma
tional Banks for charters or
branches in the same areas.
His predecessor, Ray Gidney,
had such an understanding
with the state authorities, as
ISOLATION officials said.
Under such an agreement. |
applications with earlier filing
dates would be given prefer
ence by both the national and
State bank supervisors.
Randolph Hughes, Delaware
Bank Commissioner and chair
man of the associations legis-
lative committee, on Thursday
said any exchange Of informa-
ton with the Controllers Of
flee would be of little or no
benefit unless accompanied by
some understanding as to its
use.
The weekly summary Of the
Controllers office was discon-
tinued because Of the high cost
Of processing. printing and
mailing to some $500 National
Banks, as well as to individuals
and firms with interests in the
banking field, Mr.. Saxon's an
nouncement said.
tn new bi-weekly summary
will be mailed upon request to
banks and others. Texts of the
Controllers decisions and opin-
ions on mergers. consolida-
tons and acquisitions and as
sumptions of liabilities will not
accompany the summary, but