International Lending Supervision
International Lending Supervision Act of 1983 - Requires each appropriate Federal banking agency to evaluate banking institution foreign country exposure and transfer risk.
Requires each such agency to establish examination and supervisory procedures to assure that factors such as foreign country exposure and transfer risk are considered in evaluating the adequacy of the capital of banking institutions.
Requires each such agency to require a banking institution to establish and maintain a special reserve whenever the agency determines that:
(1) the institution's assets have been impaired by a protracted inability of a foreign country's public or private borrowers to make payments on their external indebtedness; or
(2) there is a substantial likelihood that such debt cannot reasonably be expected to be repaid according to its original terms without additional borrowing or a major restructuring.
Requires the Federal Financial Institutions Examination Council to promulgate regulations to account for fees charged by a banking institution in connection with an international loan.
Requires each appropriate Federal banking agency to require each banking institution with foreign country exposure to submit, at least four times each year, information regarding that exposure.
Requires each such agency to require banking institutions to publish information regarding material foreign country exposure in relation to assets and to capital.
Requires the Examination Council and the Federal banking agencies to consult with foreign banking supervisory authorities to reach understandings aimed at achieving the adoption of effective and consistent supervisory policies and practices with respect to international lending.
Requires the Examination Council to report to the appropriate congressional committees on the international banking examination and supervisory procedures of certain foreign countries.
Requires each appropriate Federal banking agency to establish adequate levels of capital for each category of banking institution.
Declares that failure of a banking institution to maintain its established level of capital shall constitute an unsafe and unsound practice within the meaning of the Federal Deposit Insurance Act. Requires each such agency to require any banking institution which does not maintain its prescribed capital level to submit and adhere to a plan to achieve its prescribed level.
Directs the Chairman of the Federal Reserve Board and the Secretary of the Treasury to encourage governments, central banks, and regulatory authorities of other major banking countries to work toward maintaining and strengthening the capital bases of banking institutions involved in international lending.
Requires the Chairman and the Secretary to report to Congress on the progress in achieving such goal.
Prohibits banking institutions from extending more than $1,000,000 in credit to finance a project involving the construction or operation of any mining, processing, or manufacturing facility located outside the United States unless a written economic feasibility evaluation of such foreign project is prepared and approved by a senior official of such institution.
Sets forth the factors to be included in the evaluation.
Requires such evaluations to be reviewed by the appropriate Federal banking agencies.
Sets forth the general authorities of the Examination Council and the appropriate Federal banking agencies.
Sets forth penalties for violations of this Act. Requires the Examination Council and the appropriate Federal banking agencies to report to specified congressional committees on actions taken to implement this title.
Provides for legislative review and congressional veto of rules and regulations promulgated by the Examination Council or by an appropriate Federal banking agency pursuant to this title.
Permits the waiver of such legislative review.
Declares that congressional inaction on a rule or regulation shall not be deemed approval of such rule or regulation.
Directs the Comptroller General to audit the Examination Council and the appropriate Federal banking agencies but permits the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate Federal banking agency has consented in writing.
Prohibits audits of the Federal Reserve Board and Federal Reserve banks from including specified transactions.
Prohibits employees of the General Accounting Office from disclosing information identifying an open bank, an open bank holding company, or a customer of a bank or bank holding company.
Exempts certain information from such prohibition.
Sets forth the method which the Comptroller General shall use in carrying out an audit.