SENATE CONCURRENT RESOLUTION NO. 31
(By Senators Manchin, Helmick, Blatnik, Chafin, Craigo, Dittmar,
Sharpe, Wagner, Wiedebusch, Wooton, Kimble, Scott and Yoder)
[Originating in the Committee on Banking and Insurance]
Requesting the joint committee on government and finance to make a
study of the loan to deposit ratio of financial institutions,
including brokerage firms, which accept or broker deposits and
provide credit in West Virginia to ascertain the amount of
credit provided to the West Virginia communities where such
offices are located relative to the amount of deposits held or
brokers by said offices.
Whereas, The economic health of communities is dependent in
significant part upon access to adequate levels of credit; and
Whereas, A major source of credit available to a community
should be from the foregoing institutions located in that community
based upon the level of deposits generated by individuals and
businesses who reside in that community; therefore, be it
Resolved by the Legislature of West Virginia:
That the joint committee on government and finance is hereby
requested to appoint an interim committee to study the loan to
deposit ratio of the foregoing financial institutions located in West Virginia on the basis of each office, for the purpose of
reviewing the performance of financial institutions in West
Virginia in meeting the credit needs of its citizens and businesses
at a level commensurate to the amount of deposits held or brokered
by such institutions and to make recommendations, if necessary, to
the Legislature regarding the same; and be it
Further Resolved, That the commissioner of banking be
requested to obtain the reports and information from the foregoing
as may be needed to assist the interim committee ascertain said
loan deposit ratios; and, be it
Further Resolved, That the interim committee appointed by the
joint committee on government and finance shall consist of nine
members, two of whom shall be the deans of the colleges of business
of Marshall university and West Virginia university, or their
designee; one of whom shall be the chairman of the governor's
office of economic development, or his or her designee; three of
whom shall be members of the Senate; and three of whom shall be
members of the House of Delegates; and, be it
Further Resolved, That the joint committee on government and
finance report to the regular session of the Legislature, 1997, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft any necessary legislation
be paid from legislative appropriations to the joint committee on
government and finance.