Newspapers / The Carolina Times (Durham, … / Sept. 18, 1982, edition 1 / Page 16
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lll-TKf CAXOUKA TIKESSATURDAY, SOTEMIEI IS. 1M1 ' Hearing With Bank Heads Historic First . WASHINGTON source ' economic Congressman Walter E. Xjrtl an,d community Fauntroy (D.-D.C). ,ea..?h,P' . Chairman of the Sub- "9" 'he other hand," -committee on Domestic ;"ed e Congressman. "Monetary Policy of the J hfe.JT5SMfnts of, le House Banking Commit- fJ?! ar!tend ,hc tee, announced that the mfcta,ngs; ?d rve; Subcommittee would on, a bating basis, as meet on Thursday, SiT' Lhe September 23, to take O". testimony from selected E1" which ,h.e Federal Reserve District c?nlral for deci Bank Presidents, five of ,.' u" monetary whom ir ac ntin- Plicy- The Bank 7ederal ""'"""S are supposed (o assure that regional economic developments Fauntrov stated that an conditions are p hMnnoc wn,AA o4 reflected Dolicy." whom members of 'the Federal Open Market Commit tee the hearings would ad dress both how well the District Banks are carry ing out national policies such as financial institu tion deregulation and af firmative action, and how well the Presidents of these banks are con veying economic and financial conditions in the districts to the monetary-policy deliberations - of the' Federal Open Market Committee. "This will be the first time in modern economic history that a group of Federal Reserve District Bank Presidents have ap peared before a House Committee or Subcom nittee," the D.C. Con gressman pointed out, although individual Presidents have testified. The twelve Federal; Reserve District Banks act as intermediaries bet ween the Board of Governors of the Federal Reserve System in Washington and the business and financial communities and the general public in the various Districts. "On the one hand," said Chairman Fauntroy, "the District Banks carry out the day-today opera tions of the Federal Reserve System, in ' eluding distributing cur rency, processing checks from where they are cashed to the banks upon which they are written, acting as the Govern ment's banker, supervis ing some of the activities of financial lnciitni;n. and extending loans to member banks. The District Banks also haye a substantial impact on :the ' communities in which they are located, as a back-up for finan cial institutions, an PmnlAVar and n T';vi auu a UUICII- in monetary "These hearings," ex plained Fauntroy, "are intended to explore how well the District Banks are carrying out these two different functions. We cannot assume, just because we have had District Banks for many decades as both the operating , arms of the Federal Reserve and par ticipants in its policy decisions, that the is system is working perfectly or that it can not be modified to better today's needs." Among the issues before the Subcommitee at this hearing are the results of the explicit pricing policy for Fed Services mandated by the Monetary Control Act, its effect on individual bank employment and the impact of the expan sion of reserve re quirements.; The com position of the Board of ' Directors, possible ex pansion of the boards, retirement of the Federal Reserve ' Stock, affirmative-action and upward-mobility pro grams of individual banks will also be ex amined. Most importantly, tne Subcommittee will also explore the impact on the monetary policy of regional business, finan cial, employment and credit conditions, as con veyed by the District Bank Presidents. The subcommittee will also inquire of the Presidents' views on the ap propriateness and viability of the monetary targets presently in use, on the objectives and limits of monetary policy, and on related issues. r - t S:,rr.'r. V , (f :V . fv v iff' 1 ... ... v. .t Applications , For White House Fellowships Now Open ., Admiral James B. Stockdale, chairman of the Prsident's Commis sion on White House Fellowships announced ; the opening of the ap- plication period for the 1983-84 Fellowship year. : The White House Fellowship ' program, beginning its eighteenth year, is designed to pro-, vide gifted and highly motivated - Americans with firsthand experience in the process of govern ing the - nation and a sense of personal in-. volvement in the leader ship of the society. U.S. citizens are eligi ble to apply during the early and formative years of their careers. The no basic educational requirements and no special career or profes sional categories. Employees of the Federal Government are not eligible, with the ex ception of career military personnel of the Armed Services. The Commis sion seeks candidates of demonstrated excellence ,- in their professional roles as well as signi ft cant breadth of interests . ana community involve ment. ff;" ' :. During their one year 'assignments V tn Washington, Fellows serve as special assistants to Cabinet Secretaries, or senior members of the White House staff. Ad ditionally, Fellows par ticipate in an extensive education program in cluding seminars with top government of ficials, leading scholars, journalists and private sector leders. Application forms and additional information can be obtained from th President's Commission on White Fellowships; 712 Jackson Place; N.W., Washington; D.C. 20503; (202) 395-4522. Applications must be postmarked no later than December I. 1982. CLAYTON, AI.A fieorge ('. Wallace sets a bin hug from 82-year-old Eva Clayton on his arrival sit the court house to cast his vote in the Alabama primary. The 63-year-old former governor is seek ing an unprecedented fourth term of office as the stale's chief executive. UPI Photo en. William Hancock To Receive Distinguished Service Award State Senator William With a broad G. (Gerry) Hancock, Jr. understanding of the ad received a "Distinguish- ministrative and ed Service Award" from legislative political pro the Environmental cess, he effectively guid- Health Section of the North Carolina Public Health Association at its Annual Educational Conference at the Ben ton Convention Center in Winston-Salem. This presented Hancock for his con tributions to the field of environmental health through his successful ef fort to secure passage of legislation requiring the mandatory registration of all sanatarians prac ticing in North Carolina. 1 ed this key legislation through the Senate. Health professionals and many statewide public health associa tions had lone felt that mandatory i registration tivities at the state and local levels will certainly stand as one of the most important milestones in the history of en vironmental health prac tice in North Carolina, 'in the award ; ceremony, Sen. Hancock will s be recognized for this successful legislative effort along with his leadership, vision, distinguished service, and inspired commitmet to a public cause. fA ft f.lay Ycsr beautiful family proiper! Prcvidizj for a family today requires a variety of resources. Among those resources is a sound backing institution. Services ssch as trust funds, savings accounts, savings, certificates and a variety cf boa plans , could keep your family's financial picture a happy one! Atk us about these services J ' FARMERSfBANK . i - ii cbnipnniisirtet 7 118'FiyttUvSittrni ? Ill WwtPinteh Stmt UmbrFDIC award was was badly needed. After to Senator ; HB-964 passed through many committees and finally reached the Senate, many difficulties were yet to be en countered. However, Senator Hancock thoroughly studied the bill . and committed himself to the successful passage of HB-964., In his presentation and, discussion of the bill on the Senate floor, he ef fectively persuaded the Senate as to the merits of the bill. Even . through considerable , ' debate followed over the course of two days on tfte Senate floor, Senator Hancock won th support of the others members of the Senate and the bill ws ratified into law on June 22,1982, to become ef fective on October J , 1982. v For the first time in the history of North Carolina, there is now a statewide professional standard for all practic ing sanitarians in the State. Among other things, the new law . establishes educational I requirements, an intern- ! snip Dased on education ! and experience, an oral and written examination to test for competence in environmental health; experience requirements 1 for full registration, and : authorizes the Board of Sanitarian Examiners tq extablish : requirements; , for specialized instruct tion and training. The anticipated, benefits, both short and long range, ' to en-, vironmental health prac-1', tice and thus to the citizens of the state are' . enourmous. Because of'., the vital public health ' decisions affecting the health, safety, and well-1 s being of all our citizens", that arc . made by . ' sanitarians on a daily -:' basis, the - greater ' assurance of comoetencv - levels that can now be achieved' ' in areas of hazardous waste, on-site sewage treatment and disposal, food and lodg aaiiuauon. 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The Carolina Times (Durham, N.C.)
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Sept. 18, 1982, edition 1
16
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