Bank failures (101 - 110 of 258 items)
Banks and Thrifts: Safety and Soundness Reforms Need to Be Maintained
T-GGD-93-3: Published: Jan 27, 1993. Publicly Released: Jan 27, 1993.
GAO discussed the condition of the banking and thrift industries, focusing on: (1) the safety and soundness provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA); (2) the condition of the banking and thrift industries' insurance funds; (3) the volume of bank lending; and (4) congressional oversight. GAO noted that: (1) FDICIA requires that banks operate in a safe...
Deposit Insurance Funds: Compliance With Obligation and Repayment Requirements as of March 31, 1992
AFMD-93-31: Published: Jan 21, 1993. Publicly Released: Jan 27, 1993.
Pursuant to a legislative requirement, GAO reported on the Federal Deposit Insurance Corporation's (FDIC) compliance with the maximum obligation limitation that applies to its insurance funds, focusing on: (1) the funds' ability to repay amounts borrowed from Treasury for insurance losses and factors affecting future borrowings; and (2) whether the Bank Insurance Fund's (BIF) management and dispos...
Resolution Trust Corporation: Recoveries on Asset Sales Through September 1992
GGD-93-51FS: Published: Jan 8, 1993. Publicly Released: Jan 27, 1993.
Pursuant to a congressional request, GAO reviewed the: (1) Resolution Trust Corporation's (RTC) method for estimating asset sales losses; and (2) availability of current sales information.GAO found that: (1) the RTC methodology for estimating asset recoveries was reasonable; (2) the Real Estate Owned Management System (REOMS) had slow response times during data input and retrieval, cumbersome comp...
Resolution Trust Corporation: Number and Types of Legal Matters
GGD-93-50FS: Published: Jan 8, 1993. Publicly Released: Jan 8, 1993.
Pursuant to a congressional request, GAO provided information on the number, types, and nature of pending litigation matters involving the Resolution Trust Corporation (RTC).GAO found that: (1) by November 1992, RTC was involved in 77,523 legal matters of which 84 percent remained open and 16 percent were closed; (2) RTC became involved in new legal matters at an average rate of 3,138 per month, p...
RTC Western Storm Follow-up
GGD-93-8R: Published: Dec 4, 1992. Publicly Released: Jan 4, 1993.
Pursuant to a congressional request, GAO provided: (1) an assessment of the Resolution Trust Corporation's (RTC) efforts to correct contracting deficiencies in the Western Storm Project; and (2) the results of its inquiry into alleged criminal conduct relating to the award and performance of the Western Storm contract. GAO noted that: (1) poor planning, poor oversight, and the use of an improper c...
Financial Services Industry Issues
OCG-93-10TR: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
Pursuant to a congressional request, GAO summarized issues relating to the federal government's regulation of and relationship with the financial services industry, focusing on: (1) federal regulation of financial institutions; (2) rapidly changing financial markets; and (3) federal regulation of insurance industry solvency.GAO noted that the: (1) federal government's many legislative and administ...
High Risk Series: Bank Insurance Fund
HR-93-3: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
GAO reviewed the Bank Insurance Fund, focusing on the factors that contributed to the depletion of the Fund's reserves and the need for improved accounting rules and bank examinations.GAO noted that: (1) during the 1980s, U.S. banks made riskier loans to increase their customer base and fight competition from other domestic and foreign financial service vendors; (2) weak internal controls, flawed...
High Risk Series: Resolution Trust Corporation
HR-93-4: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
GAO reviewed the Resolution Trust Corporation's (RTC) cleanup of the thrift industry, focusing on: (1) RTC management of its asset disposition and contracting activities; (2) RTC information systems; and (3) reduction of thrift cleanup costs.GAO found that RTC: (1) has recovered about 95 percent of the book value of the financial assets it has sold, but faces losses from contingent liability on al...
RTC PLS Restructuring
GGD-93-5R: Published: Nov 18, 1992. Publicly Released: Nov 18, 1992.
GAO reviewed the impact of the Resolution Trust Corporation's (RTC) restructuring and downsizing of its Professional Liability Section (PLS), focusing on the: (1) number of savings and loan cases in which the statute of limitations expired due to staff reductions; (2) projected number of cases which will expire before RTC restores its staff levels; and (3) potential amount of money that RTC could...
Bank and Thrift Criminal Fraud: Information on Justice's Investigations and Prosecutions
GGD-93-10FS: Published: Oct 5, 1992. Publicly Released: Oct 23, 1992.
Pursuant to a congressional request, GAO reviewed the Department of Justice's investigations of criminal bank and thrift fraud, focusing on: (1) the recorded number of prosecutions and the number of investigations and cases that U.S. Attorneys declined to proceed with; (2) the amounts of fines and restitution that the government collected; and (3) the adequacy of Justice's resources.GAO found that...