Dividends (1 - 10 of 44 items) in Custom Date Range
Troubled Asset Relief Program: Treasury's Use of Auctions to Exit the Capital Purchase Program
GAO-13-630: Published: Jul 8, 2013. Publicly Released: Jul 8, 2013.
The U.S. Department of the Treasury (Treasury) has increasingly used auctions to sell its Capital Purchase Program (CPP) investments. Initially, Treasury relied primarily on financial institutions redeeming their shares to wind down the program. However, in March 2012 Treasury began using auctions to exit CPP, and more institutions have exited the program through auctions than through any other me...
Troubled Asset Relief Program: Government's Exposure to AIG Lessens as Equity Investments Are Sold
GAO-12-574: Published: May 7, 2012. Publicly Released: May 7, 2012.
Since GAOs last report in July 2011, more of the assistance provided by the Department of the Treasury (Treasury) and the Board of Governors of the Federal Reserve System (Federal Reserve) to benefit American International Group, Inc. (AIG) has been repaid. As of March 22, 2012, the remaining assistance to AIG was $46.3 billion, including unpaid dividends and accrued interest. This amount in...
Troubled Asset Relief Program: Status of Programs and Implementation of GAO Recommendations
GAO-11-476T: Published: Mar 17, 2011. Publicly Released: Mar 17, 2011.
This testimony discusses our work on the Troubled Asset Relief Program (TARP), which Congress established on October 3, 2008, in response to the financial crisis that threatened the stability of the U.S. financial system and the solvency of many financial institutions. Under the original TARP legislation, the Department of the Treasury (Treasury) had the authority to purchase or insure $700 billio...
Financial Audit: Office of Financial Stability (Troubled Asset Relief Program) Fiscal Year 2009 Financial Statements
GAO-10-301: Published: Dec 9, 2009. Publicly Released: Dec 9, 2009.
On October 3, 2008, the Emergency Economic Stabilization Act of 2008 (EESA) was signed into law. EESA authorized the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP) and established the Office of Financial Stability (OFS) within the Department of the Treasury (Treasury) to do so. EESA requires the annual preparation of financial statements for TARP, and further requi...
Troubled Asset Relief Program: Status of Participants' Dividend Payments and Repurchases of Preferred Stock and Warrants
GAO-09-889T: Published: Jul 9, 2009. Publicly Released: Jul 9, 2009.
This testimony is based primarily on certain information in our June 17, 2009, report--our fifth report under the act's mandate--which covers TARP activities as of June 12, 2009. Specifically, this statement includes information on (1) terms and rates for dividend payments from participants, (2) the dividend payments received through June 30, 2009, from participants, and (3) repurchases of preferr...
Tennessee Valley Authority: Debt Reduction Efforts and Potential Stranded Costs
GAO-01-327: Published: Feb 28, 2001. Publicly Released: Mar 7, 2001.
If the Tennessee Valley Authority (TVA) were to lose its legislative protections today, its high level of debt and corresponding high financing costs would be a competitive challenge. This competitive challenge would be even greater if it were at the same time attempting to recover costs of deferred assets through rates. Despite having reduced its debt and deferred assets over the past three years...
FNMA and FHLMC Rates of Return
GGD-96-157R: Published: Jul 29, 1996. Publicly Released: Jul 29, 1996.
Pursuant to a congressional request, GAO provided information on how the rates of return for the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) compared with the financial industry and corporate sector between 1991 and 1995. GAO noted that: (1) while Fannie Mae's and Freddie Mac's rates of return on total capital assets and common equity...
Review of Rural Telephone Bank's 1994 Loan Interest Rate Calculation
AIMD-95-29: Published: Nov 18, 1994. Publicly Released: Nov 18, 1994.
Pursuant to a legislative requirement, GAO reviewed the accuracy of the Rural Telephone Bank's interest rate determinations, focusing on the interest rate: (1) charged to borrowers during fiscal year (FY) 1994; and (2) for advances from the liquidating and financing accounts.GAO found that the RTB interest rate: (1) for loans prior to FY 1992 was 6.15 percent; (2) for loans approved during or afte...
Financial Audit: Resolution Trust Corporation's Management Letter as of December 31, 1993
AIMD-94-181ML: Published: Aug 30, 1994. Publicly Released: Aug 30, 1994.
GAO reviewed the Resolution Trust Corporation's (RTC) accounting procedures and internal controls that warrant management attention. GAO noted that: (1) the RTC Chief Financial Officer does not have direct involvement in planning or analyzing the results of the estimated cash recovery calculation; (2) the RTC Field Accounting Section does not properly review subrogated claims receivable balances t...
Financial Audit: Rural Electrification Administration's Financial Statements for 1988 and 1987
AFMD-90-73: Published: Jun 13, 1990. Publicly Released: Jun 13, 1990.
GAO provided its opinion on the Rural Electrification Administration's (REA) financial statements for the fiscal year ended September 30, 1988.GAO found that the REA financial statements presented fairly its financial position as of September 30, 1988, and the results of its operations and cash flows for the year then ended, in conformity with generally accepted accounting principles. GAO also fou...