Show EXAMINATIONS FOR TRUST INSTITUTIONS New Move by Federal Banking Authorities Welcomed by Banks and Trust Com Com- Companies Companies Says Bankers ankers Organization examination of trust de- de departments de- de departments FEDERAL Is the latest latest develop development development ment In bankIng supervision and trust companies and banks operating trust departments are welcoming this d de- de development because It fills n a long felt want it is stated by the Trust DivIsion of the American Bankers Association Despite the growing importance of AmerIcan trust business jn in i years examining officials have neTer given to trust departments the atten- atten attention attention tion paid to commercIal bankIng do- do d this authority points out Now the Federal Reserve System In n conjunction with the Comptroller ot of the Currency has bas undertaken to bring the examination of trust departments u up to the level levoy or of commercIal bank ex examinations it says ays Experts In trust work are being em emr employed r Cloyed by the varIous Federal Reserve B Banks These experts will head th theme special staffs of trust examiners In the twelve Federal Reserve Districts Spec c starts staffs are already at work In some lome of the Reserve Districts including Boston Atlanta Richmond and Ch cago The Federal Reserve will ex examine examine amine the trust departments of state state- chartered members of the Reserve System System tem Uniform SupervIsion Meanwhile the Comptroller ot of the tho Currency has built up 0 otter er the past two years a staff of special examiners for the trust departments department of national banks All national banks are members of the Federal Reserve System Since nearly all state chartered trust institutions are members of the Reserve SYI tern tem the pew plan win will bring about what amounts to Federal examination for tor the trust business State examining authorities probably will wUl follow Federal supervisory policies to a considerable erable extent Hence coor coor- coordination of the tha procedure of the tho nation national al banking system and the Federal Re Re- servo System Is expected to result In ing g uniform system of examinations for trust departments In all banks This in fn turn a 8 h o 0 U 1 d produce considerable standardization in the operation ot of trus trust departments the division do- do declares dares clares |