G. Edward Leary, Utah commissioner of Financial Institutions, has been appointed to a two-year term on the State Liaison Committee of the Federal Financial Institutions Examination Council.
The federal council is comprised of directors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, and Office of Thrift Supervision.The council's purpose is to prescribe uniform principles, standards and report forms for the federal examination of financial institutions. It also conducts education programs for examiners and for employees of state financial institution supervisory agencies.
The State Liaison Committee is responsible for advancing uniform examination principles and standards by state and federal supervisory agencies. It advises on matters relating to joint state and federal regulatory concerns or jurisdictional overlaps.