The Treasurer, on an annual basis, shall review and evaluate the information contained in the annual disclosure statements filed by banking institutions pursuant to this article. In addition, the Treasurer shall review any additional information deemed necessary or desirable in evaluating the performance of banking institutions including but not limited to the public sections of evaluations and reports prepared by federal and state agencies pursuant to the Community Reinvestment Act of 1977, as amended.
The Treasurer shall, on an annual basis, rank the performance of banking institutions. The Treasurer shall utilize mechanisms to rank banking institutions that allow use of the evaluations of their performance to conduct City banking transactions, while ensuring the fiduciary responsibility of the Controller, Treasurer and any other financial officer responsible for banking City funds.
The Treasurer’s annual evaluation and ranking of banking institutions shall be made available to the public.
SECTION HISTORY
Added by Ord. No. 167,683, Eff. 4-26-92.