Bank examination (51 - 60 of 66 items)
CPA Audit Quality: Failures of CPA Audits to Identify and Report Significant Savings and Loan Problems
AFMD-89-45: Published: Feb 2, 1989. Publicly Released: Feb 2, 1989.
Pursuant to a congressional request, GAO assessed the quality of audits of savings and loan associations in the Federal Home Loan Bank Board's (FHLBB) Dallas district.GAO reviewed audits performed by 9 independent certified public accountant (CPA) firms and found that the CPA firms: (1) did not adequately audit 6 of the 11 savings and loan associations' financial or internal control problems; (2)...
Failed Financial Institutions: Reasons, Costs, Remedies, and Unresolved Issues
T-AFMD-89-1: Published: Jan 13, 1989. Publicly Released: Jan 13, 1989.
GAO discussed: (1) characteristics and management practices of failed financial institutions; (2) the Federal Home Loan Bank Board's (FHLBB) recent resolution actions; and (3) actions to prevent the crisis from recurring. GAO found that: (1) in 1987, 203 commercial banks closed at an estimated net cost of $3 billion and, in 1988, the number increased to 221; (2) in 1988, the Federal Savings and Lo...
Failed Thrifts: No Compelling Evidence of a Need for the Federal Asset Disposition Association
GGD-89-26: Published: Dec 12, 1988. Publicly Released: Dec 12, 1988.
In response to a congressional request, GAO assessed the Federal Savings and Loan Insurance Corporation's (FSLIC) continued need for the Federal Asset Disposition Association (FADA) to determine: (1) the legality of the Federal Home Loan Bank Board's (FHLBB) creation of FADA; and (2) whether FSLIC continued to need FADA.GAO found that FHLBB improperly created FADA as a federal savings and loan ass...
The Federal Savings and Loan Insurance Corporation--Financial Condition and Recapitalization Issues
T-AFMD-87-4: Published: Mar 3, 1987. Publicly Released: Mar 3, 1987.
GAO discussed: (1) a proposed Federal Savings and Loan Insurance Corporation (FSLIC) recapitalization act; and (2) the financial health of FSLIC and savings and loan institutions (S&L). GAO noted that: (1) from 1981 to 1986, 211 S&L failed, and the number of insolvent S&L increased from 16 to 44; (2) 15 percent of current FSLIC-insured S&L are insolvent and 20 percent are unprofitable; (3) diversi...
Thrift Industry: The Treasury/Federal Home Loan Bank Board Plan for FSLIC Recapitalization
GGD-87-46BR: Published: Mar 3, 1987. Publicly Released: Mar 3, 1987.
Pursuant to a congressional request, GAO discussed the need for a recapitalization of the Federal Savings and Loan Insurance Corporation (FSLIC) and analyzed a recapitalization plan that the Department of the Treasury and the Federal Home Loan Bank Board (FHLBB) proposed.GAO found that FSLIC is in dire need of recapitalization because: (1) its primary reserves have fallen below $2 billion; (2) it...
Views on the Federal Rescue of the Continental Illinois National Bank and Trust Co.
125842: Dec 14, 1984
GAO discussed the federal financial rescue of the Continental Illinois Bank and Trust Company, focusing on: (1) comparing the rescue of Continental Illinois to federal financial rescues of other large municipalities and firms; and (2) the implications of the rescue for the future of bank regulation. GAO stated that the rescue of Continental Illinois conformed with GAO guidelines for financial assi...
Banks Having Problems Need Better Identification and Disclosure
FOD-79-1: Published: Jan 24, 1979. Publicly Released: Jan 24, 1979.
The Federal Deposit Insurance Corporation (FDIC) supervises state-chartered insured banks which are not members of the Federal Reserve System and indirectly supervises state member and national banks. FDIC exists to protect both private and public depositors against losses from bank failures, help maintain confidence in the banking system, and promote safe and sound banking practices. The review o...
Supervision of Banks by the Federal Deposit Insurance Corporation Can Be More Efficient
FOD-77-8: Published: Dec 22, 1977. Publicly Released: Dec 22, 1977.
As a result of a Congressional request that GAO review the supervisory activities of the three Federal bank regulatory agencies, GAO was granted unrestricted access to bank examination reports and related records. The Federal Deposit Insurance Corporation (FDIC) maintains public confidence in the Nation's banking system by protecting depositors and encouraging sound banking, primarily through depo...
The Debate on the Structure of Federal Regulation of Banks
OCG-77-2: Published: Apr 14, 1977. Publicly Released: Apr 14, 1977.
The federal bank regulatory structure is discussed with emphasis on the three federal agencies that regulate and supervise commercial banks--Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, and Comptroller of the Currency. Restructuring proposals are centered on consolidation of federal bank supervision in FDIC, the Federal Reserve, the Department of the Treasury, or in a new...
Study on Federal Supervision of State and National Banks
100317: Feb 1, 1977
Several congressional committees requested evaluation of the effectiveness of the supervisory efforts of the three federal agencies involved in monitoring banking operations, because of the increasing instability of banks. The study objectives were to evaluate the agencies' efforts to identify unsound conditions and violations of laws in banks and cause bank management to take corrective actions....