Examination and fees.
Section 28
SEC. 28. Examination and fees.—It shall be the duty of the Superintendent, personally or by deputy, at least once in every twelve months, and at such other times as either he or the Monetary Board may deem expedient, to make an examination of the books of every banking institution within the purview of this Act and to make a report on the same to the Monetary Board. Every such institution shall afford to the Superintendent and to his authorized deputies full opportunity to examine its books, cash and available assets and general condition at any time when requested so to do by the Superintendent: Provided, however, That none of the reports and other papers relative to such examinations shall be open to inspection by the public except in so far as such publicity is incidental to the proceedings hereinafter authorized, or is necessary for the prosecution of violations in connection with the business of such institutions. The institutions which are subject to examination by the Superintendent shall reimburse the Central Bank for the cost of maintaining the Department of Supervision and Examination and, for this purpose, shall pay to the Central Bank, within the first thirty days of each year, an annual fee in an amount to be determined by the Monetary Board in the manner provided in the next paragraph of this section. The fee to be paid by each institution shall be an amount equal to a prescribed percentage of its average total assets during the preceding year, as shown, on its end-of-month balance sheets, after deducting its cash on hand and amounts due from banks, including the Central Bank and banks abroad: Provided, however, That said percentage may not exceed one twentieth of one per cent (1/20 of 1%). If the total of the maximum fees authorized under this paragraph should be insufficient to defray the entire costs of the department, the difference shall be borne by the Central Bank.