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Financial Markets and Institutions (71 - 80 of 1,454 items)
Management Report: Areas for Improvement in the Federal Reserve Banks' Information Systems Controls
GAO-15-413R: Published: Apr 6, 2015. Publicly Released: Apr 6, 2015.
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, 2014, and 2013, GAO identified and communicated to the Federal Reserve Banks' (FRB) management certain new deficiencies in information systems controls over key financial systems maintained and operated by...
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...
Troubled Asset Relief Program: Winding Down the Capital Purchase Program
GAO-15-367R: Published: Mar 6, 2015. Publicly Released: Mar 6, 2015.
The Department of the Treasury (Treasury) continues to make progress in winding down the Capital Purchase Program (CPP), and returns have surpassed original CPP investments. As of December 31, 2014, Treasury had received $226.4 billion in repayments, sales, dividends, and interest from its CPP investments, exceeding the amount originally disbursed by $21.5 billion. After accounting for write-offs...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2014 and 2013 Financial Statements
GAO-15-289: Published: Feb 12, 2015. Publicly Released: Feb 12, 2015.
In GAO's opinion, the Federal Deposit Insurance Corporation (FDIC) fairly presented, in all material respects, the 2014 and 2013 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 to...
Troubled Asset Relief Program: Treasury Continues to Wind down Most Programs, but Housing Programs Remain Active
GAO-15-197: Published: Jan 6, 2015. Publicly Released: Jan 6, 2015.
The Department of the Treasury (Treasury) continues to wind down Troubled Asset Relief Program (TARP) nonhousing programs that were designed to support financial and automotive markets (see figure). As of September 30, 2014, Treasury had exited four of the nine nonhousing programs that were once active, and was managing assets totaling $2.9 billion under those remaining. Some programs have yielded...
Dodd-Frank Regulations: Regulators' Analytical and Coordination Efforts [Reissued on December 18, 2014]
GAO-15-81: Published: Dec 18, 2014. Publicly Released: Dec 18, 2014.
Federal financial regulators—Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit Union Administration, Consumer Financial Protection Bureau, Commodity Futures Trading Commission, and the Securities and Exchange Commission—have continued to conduct required regulatory analyses for rules issued pursua...
Bank Capital Reforms: Initial Effects of Basel III on Capital, Credit, and International Competitiveness
GAO-15-67: Published: Nov 20, 2014. Publicly Released: Nov 20, 2014.
Although the U.S. Basel III capital requirements may increase compliance costs, they likely will have a modest impact on lending activity as most banks may not need to raise additional capital to meet the minimum requirements. GAO's analyses of financial data for the first quarter of 2014 indicate the vast majority of bank holding companies and banks currently meet the new minimum capital ratios a...
Financial Stability Oversight Council: Further Actions Could Improve the Nonbank Designation Process
GAO-15-51: Published: Nov 20, 2014. Publicly Released: Nov 20, 2014.
The Financial Stability Oversight Council (FSOC) uses committees comprising staff from member agencies to help it evaluate nonbank financial companies and determine if they will receive enhanced supervision. FSOC has developed and followed a process for making determination decisions that is, in part, systematic and transparent. FSOC published a final rule and guidance that establish a three-stage...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2014 and 2013 Financial Statements
GAO-15-147R: Published: Nov 17, 2014. Publicly Released: Nov 17, 2014.
GAO found (1) the Federal Housing Finance Agency’s (FHFA) financial statements as of and for the fiscal years ended September 30, 2014, and 2013, are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) FHFA maintained, in all material respects, effective internal control over financial reporting as of September 30, 2014; and (3) no re...
Financial Audit: Securities and Exchange Commission's Fiscal Years 2014 and 2013 Financial Statements
GAO-15-166R: Published: Nov 17, 2014. Publicly Released: Nov 17, 2014.
GAO found (1) the United States Securities and Exchange Commission's (SEC) and its Investor Protection Fund's (IPF) financial statements as of and for the fiscal years ended September 30, 2014, and 2013, were presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) SEC maintained, in all material respects, effective internal control over fin...