All Topics » Financial Markets and Institutions
Financial Markets and Institutions (141 - 150 of 1,450 items)
Troubled Asset Relief Program: Status of GAO Recommendations to Treasury
GAO-13-324R: Published: Mar 8, 2013. Publicly Released: Mar 8, 2013.
As of February 2013 our performance audits of the TARP programs have resulted in 66 recommendations to Treasury. Of the 66 recommendations, Treasury has implemented 51, or approximately 77 percent. Treasury has partially implemented 7 of the performance audit recommendations--that is, it has taken some steps toward implementation but needs to take more actions. Four performance audit recommendatio...
Overview of GAO's Past Work on FHA's Single-Family Mortgage Insurance Programs
GAO-13-400R: Published: Mar 7, 2013. Publicly Released: Mar 7, 2013.
Among other things, GAO's past work discusses FHA's financial condition and steps the agency has taken to improve its financial condition. As housing prices began to decline at the end of 2006 and conventional mortgage lenders tightened their underwriting standards, more homebuyers began taking advantage of FHA-insured loans, which tend to have less strict underwriting standards and require lower...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2012 and 2011 Financial Statements
GAO-13-291: Published: Feb 21, 2013. Publicly Released: Feb 21, 2013.
In GAO's opinion, the Federal Deposit Insurance Corporation (FDIC) fairly presented, in all material respects, the 2012 and 2011 financial statements for the two funds it administers--the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF). Also, in GAO's opinion, FDIC maintained, in all material respects, effective internal control over financial reporting relevant to the DIF and the...
Financial Regulatory Reform: Financial Crisis Losses and Potential Impacts of the Dodd-Frank Act
GAO-13-180: Published: Jan 16, 2013. Publicly Released: Feb 14, 2013.
The 2007-2009 financial crisis has been associated with large economic losses and increased fiscal challenges. Studies estimating the losses of financial crises based on lost output (value of goods and services not produced) suggest losses associated with the recent crisis could range from a few trillion dollars to over $10 trillion. Also associated with the crisis were large declines in employmen...
Financial Regulatory Reform: Regulators Have Faced Challenges Finalizing Key Reforms and Unaddressed Areas Pose Potential Risks
GAO-13-195: Published: Jan 23, 2013. Publicly Released: Jan 23, 2013.
Implementation of financial regulatory reform is ongoing. Although regulators have made progress in implementing some key reforms required by the Dodd- Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), others remain incomplete. Moreover, the effectiveness of some implemented reforms, as illustrated below, remains to be seen.The Financial Stability Oversight Council (FS...
Troubled Asset Relief Program: Treasury Sees Some Returns as It Exits Programs and Continues to Fund Mortgage Programs
GAO-13-192: Published: Jan 7, 2013. Publicly Released: Jan 7, 2013.
As of September 30, 2012, the Department of the Treasury (Treasury) was managing assets totaling $63.2 billion in nonmortgage-related Troubled Asset Relief Programs (TARP). As of this date, Treasury had exited 4 of the 10 nonmortgage-related programs, and in December 2012 Treasury announced the exit from a fifth program--the American International Group (AIG) Investment Program. Exactly when Treas...
Financial Institutions: Causes and Consequences of Recent Bank Failures
GAO-13-71: Published: Jan 3, 2013. Publicly Released: Jan 3, 2013.
Ten states concentrated in the western, midwestern, and southeastern United Statesall areas where the housing market had experienced strong growth in the prior decadeexperienced 10 or more commercial bank or thrift (bank) failures between 2008 and 2011. The failures of the smaller banks (those with less than $1 billion in assets) in these states were largely driven by credit losses on...
Dodd-Frank Act: Agencies' Efforts to Analyze and Coordinate Their Rules
GAO-13-101: Published: Dec 18, 2012. Publicly Released: Dec 18, 2012.
Federal agencies conducted the regulatory analyses required by various federal statutes for all 54 regulations issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) that GAO reviewed. As part of their analyses, the agencies generally considered, but typically did not quantify or monetize, the benefits and costs of these rules. Most of the federal financi...
Small Business Lending: Opportunities Exist to Improve Performance Reporting of Treasury's Programs
GAO-13-76: Published: Dec 5, 2012. Publicly Released: Dec 5, 2012.
The U.S. Department of the Treasury (Treasury) has made progress in developing guidance and procedures to monitor participants' compliance with requirements for the Small Business Lending Fund (SBLF) and the State Small Business Credit Initiative (SSBCI) programs. In response to GAO's previous recommendation on SBLF monitoring, Treasury has developed procedures for monitoring SBLF participant comp...
Financial Audit: Bureau of Consumer Financial Protection's Fiscal Years 2012 and 2011 Financial Statements
GAO-13-125R: Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
GAO found (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) the Consumer Financial Protection Bureau (CFPB) maintained, in all material respects, effective internal control over financial reporting as of September 30, 2012; and (3) no reportable noncompliance in fiscal year 2012 with provisions of laws...