Exhibit 801

Federal Reserve Board FAQ: Is the Fed's emergency lending audited by the Congress? Is information about the Fed's emergency lending provided to the public?

Exhibit 801 · Agency web page

Federal Reserve Board FAQ: Is the Fed's emergency lending audited by the Congress? Is information about the Fed's emergency lending provided to the public?

The audit found no conflicts of interest or material weaknesses in internal controls in the emergency facilities.

The Fed's own summary of the GAO audits. States the 21 July 2011 report found no conflicts of interest or material control weaknesses, notes the 19 October 2011 governance report, and lists the 1 December 2010 disclosure of borrower names, amounts, dates, rates and collateral.

Source: Board of Governors of the Federal Reserve System
Date: Page opened 10 November 2026
Quoted from: Bullet 1
Grade: Primary record
Document: https://www.federalreserve.gov/faqs/federal-reserve-lending-audited-by-congress.htm
Accessed: 2026-11-09
Cited by: Findings citing this exhibit
Note: Compare with GAO-11-696 and GAO-12-18, which describe potential conflicts and an appearance of conflict.

Cited by

Finding POL-8.6: Primary record GAO identified at least 18 current and former directors from 9 Reserve Banks who were affiliated with institutions that used at least one emergency program, including 11 Class A directors who served between 2008 and 2010, and wrote that member-bank representatives on Reserve Bank boards create an appearance of a conflict of interest. GAO also found no evidence of systemic bias toward favoring particular institutions in the emergency programs.