Bank examination (41 - 50 of 66 items)
Additional Reserves and Reforms Are Needed to Strengthen the Bank Insurance Fund
T-AFMD-90-28: Published: Sep 11, 1990. Publicly Released: Sep 11, 1990.
GAO discussed its audit of the Bank Insurance Fund's 1989 financial statements. GAO noted that: (1) over the last 2 years, the Fund balance decreased 28 percent, from $18.3 billion to $13.2 billion; (2) the Fund lost $4.2 billion in 1988 and $852 million in 1989; (3) the Federal Deposit Insurance Corporation (FDIC) believes that the Fund could suffer losses of $2 billion in 1990, due to the contin...
Bank Insurance Fund: Additional Reserves and Reforms Needed to Strengthen the Fund
AFMD-90-100: Published: Sep 11, 1990. Publicly Released: Sep 11, 1990.
GAO: (1) audited the Bank Insurance Fund's financial statements for the years ended December 31, 1989, and 1988; and (2) discussed serious problems facing the banking industry, the Fund's ability to deal with those problems, and reforms to strengthen the Fund.GAO found that: (1) although the Fund had the resources to handle anticipated bank failures in 1990, its low level of reserves, coupled with...
Failed Thrifts: FDIC Oversight of 1988 Deals Needs Improvement
GGD-90-93: Published: Jul 19, 1990. Publicly Released: Jul 19, 1990.
GAO reviewed all insolvent institutions resolved by the Federal Savings and Loan Insurance Corporation (FSLIC) from January 1, 1988 through August 9, 1989.GAO found that the Federal Deposit Insurance Corporation did not: (1) properly oversee the disposition of covered assets or manage FSLIC assistance agreements; (2) develop an overall strategy for dealing with covered asset dispositions or adopt...
Thrift Crisis: Strategic Plan for Resolution Trust Corporation and Management of FSLIC Deals
T-GGD-90-14: Published: Jan 25, 1990. Publicly Released: Jan 25, 1990.
GAO discussed its review of the: (1) Resolution Trust Corporation (RTC) Oversight Board's strategic plan for resolution of thrifts with appointed conservators or receivers; and (2) cost and management of the Federal Savings and Loan Insurance Corporation's (FSLIC) thrift resolutions that occurred between 1988 and the establishment of RTC. GAO noted that, although the strategic plan presented the B...
Farm Credit: Basis for Decision Not to Assist Jackson Federal Land Bank
GGD-90-16: Published: Dec 13, 1989. Publicly Released: Dec 13, 1989.
Pursuant to a congressional request, GAO reviewed the Farm Credit System Assistance Board's (FCSAB) procedures in making its decision to recommend receivership for the Federal Land Bank of Jackson, Mississippi, rather than to provide it with viability assistance, focusing on: (1) the basis for the FCSAB decision to deny financial assistance; (2) whether the FCSAB analysis showed that receivership...
Bank Failures: Independent Audits Needed to Strengthen Internal Control and Bank Management
AFMD-89-25: Published: May 31, 1989. Publicly Released: May 31, 1989.
GAO reviewed recent bank failures, focusing on: (1) the internal weaknesses and environmental factors which examiners cited for insured banks that failed in 1987; (2) the extent to which insider abuse and fraud affected the same failed banks; and (3) potential areas of concern which could be used for congressional oversight and policy deliberation, federal bank examination and supervision, bank ma...
Failed Thrifts: Internal Control Weaknesses Create an Environment Conducive to Fraud, Insider Abuse, and Related Unsafe Practices
T-AFMD-89-4: Published: Mar 22, 1989. Publicly Released: Mar 22, 1989.
GAO discussed thrift management practices which primarily caused thrift insolvency and failure. GAO noted that: (1) the Federal Home Loan Bank Board (FHLBB) cited criminal activity, fraud, and insider abuse as the primary causes of thrift insolvency; (2) examination of 26 failed thrifts showed that 85 referrals for alleged criminal activity were made regarding 19 thrifts; (3) investigations led to...
Failed Thrifts: GAO's Analysis of Bank Board 1988 Deals
T-GGD-89-11: Published: Mar 14, 1989. Publicly Released: Mar 14, 1989.
GAO discussed Federal Savings and Loan Insurance Corporation (FSLIC)-assisted sales of failed thrifts. GAO found that: (1) the costs of the sales will exceed FSLIC estimates if guaranteed assets do not have the projected values or if interest rates increase; (2) tax laws granted tax benefits to insolvent thrift acquirers and allowed deduction of presale net operating losses from their future incom...
Resolving Texas Thrift Problems
T-GGD-89-10: Published: Mar 11, 1989. Publicly Released: Mar 11, 1989.
GAO discussed the Federal Savings and Loan Insurance Corporation's (FSLIC) resolution of insolvent thrift institutions in Texas. GAO found that the current strategy for resolving insolvent institutions: (1) provided financial assistance in the form of notes and guarantees to attract prospective acquirers; (2) did not result in any liquidations, and prospective acquirers lacked any knowledge of the...
Troubled Financial Institutions: Solutions to the Thrift Industry Problem
GGD-89-47: Published: Feb 21, 1989. Publicly Released: Feb 21, 1989.
In response to a congressional request, GAO discussed: (1) the benefits and disadvantages of merging the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings and Loan Insurance Corporation (FSLIC); and (2) actions needed to restore the deposit system's financial health.GAO believes that: (1) the current strategy for resolving insolvent institutions is costly and does not consider t...