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Federal Reserve System, Independent Agencies (1 - 10 of 18 items) in Custom Date Range
Management Report: Areas for Improvement in the Federal Reserve Banks' Information Systems Controls
GAO-16-601R: Published: Jun 6, 2016. Publicly Released: Jun 6, 2016.
During GAO's audit of the Schedules of Federal Debt Managed by the Department of the Treasury's (Treasury) Bureau of the Fiscal Service (Fiscal Service) for the fiscal years ended September 30, 2015, and 2014, GAO identified three new deficiencies in information systems controls over key financial systems maintained and operated by the Federal Reserve Banks (FRB) on behalf of Treasury relevant to...
Financial Company Bankruptcies: Information on Legislative Proposals and International Coordination
GAO-15-299: Published: Mar 19, 2015. Publicly Released: Mar 19, 2015.
The U.S. Bankruptcy Code (Code) chapters dealing with the liquidation or reorganization of a financial company have not been changed since GAO last reported on financial company bankruptcies in July 2013. However, bills introduced in the previous Congress would, if re-introduced and passed, make broad changes to the Code relevant to financial company bankruptcies. The Financial Institution Bankrup...
Older Americans: Inability to Repay Student Loans May Affect Financial Security of a Small Percentage of Retirees
GAO-14-866T: Published: Sep 10, 2014. Publicly Released: Sep 10, 2014.
Comparatively few households headed by older Americans carry student debt compared to other types of debt, such as for mortgages and credit cards. GAO's analysis of the data from the Survey of Consumer Finances reveals that about 3 percent of households headed by those aged 65 or older—about 706,000 households—carry student loan debt. This compares to about 24 percent of households headed by t...
Federal Reserve Banks: Areas for Improvement in Information Systems Controls
GAO-12-615R: Published: Apr 11, 2012. Publicly Released: Apr 11, 2012.
During our fiscal year 2011 follow up on the status of FRBs corrective actions to address information systems control-related recommendations contained in our prior years reports and open as of September 30, 2010, we determined that corrective action was in progress for each of the three open recommendations related to security management and access controls. The potential effect of th...
Catastrophe Risk: U.S. and European Approaches to Insure Natural Catastrophe and Terrorism Risks
GAO-05-199: Published: Feb 28, 2005. Publicly Released: Mar 30, 2005.
Natural catastrophes and terrorist attacks can place enormous financial demands on the insurance industry, result in sharply higher premiums and substantially reduced coverage. As a result, interest has been raised in mechanisms to increase the capacity of the insurance industry to manage these types of events. In this report, GAO (1) provides an overview of the insurance industry's current capaci...
Critical Infrastructure Protection: Efforts of the Financial Services Sector to Address Cyber Threats
GAO-03-173: Published: Jan 30, 2003. Publicly Released: Mar 3, 2003.
Since 1998, the federal government has taken steps to protect the nation's critical infrastructures, including developing partnerships between the public and private sectors. These cyber and physical public and private infrastructures, which include the financial services sector, are essential to national security, economic security, and/or public health and safety. GAO was asked to review (1) the...
Private Pensions: Issues of Coverage and Increasing Contribution Limits for Defined Contribution Plans
GAO-01-846: Published: Sep 10, 2001. Publicly Released: Sep 17, 2001.
Proposals to expand pension coverage and promote pension savings have recently received much attention. In the Economic Growth and Tax Relief Reconciliation Act of 2001, for example, Congress raised statutory limits on tax-deferred pension contributions and benefits and made other changes to the law governing qualified pension plans. Some believe that increasing these limits will encourage employe...
Counterfeit U.S. Currency Abroad: Observations on Counterfeiting and U.S. Deterrence Efforts
T-GGD-96-82: Published: Feb 27, 1996. Publicly Released: Feb 27, 1996.
GAO discussed U.S. efforts to combat international counterfeiting of U.S. currency. GAO noted that: (1) U.S. currency is vulnerable to international counterfeiting because it is widely used abroad and lacks updated security features; (2) counterfeiters range from office workers to organized crime and terrorist groups using equipment ranging from simple photocopiers to sophisticated offset presses;...
After Black Monday: An Interview With Robert R. Glauber
136523: Jan 1, 1988
This article, which appeared in the GAO Journal, No. 2, Summer 1988, presents a round-table discussion of the findings and recommendations of the Presidential Task Force on Market Mechanisms, established in the wake of the unprecedented drop in the stock market on October 19, 1987. The discussion focused on: (1) the involvement of the Federal Reserve System, Department of the Treasury, and Securit...
U.S. Government Securities: Expanding Access to Interdealer Brokers' Services
GGD-87-42: Published: Feb 4, 1987. Publicly Released: Feb 4, 1987.
In compliance with the Government Securities Act of 1986, GAO held a joint public hearing with the Department of the Treasury, the Federal Reserve System, and the Securities and Exchange Commission concerning U.S. government securities.Various market participants provided their views on: (1) trading access, which involved the reasonableness and consequences of interdealer screen brokers limiting t...