Bank management (81 - 90 of 120 items)
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...
Failed Thrifts: Better Controls Needed Over Furniture, Fixtures, and Equipment
GGD-90-87: Published: May 25, 1990. Publicly Released: Jun 18, 1990.
Pursuant to a congressional request, GAO determined whether the Federal Savings and Loan Insurance Corporation (FSLIC): (1) efficiently and effectively disposed of furniture, fixtures, and equipment (FF&E) for thrift receiverships under its Southwest Plan; and (2) appropriately took various receiverships' FF&E to furnish a regional FSLIC office.GAO found that: (1) after deducting expenses, FSLIC r...
Resolving the Savings and Loan Crisis: Billions More and Additional Reforms Needed
T-AFMD-90-15: Published: Apr 6, 1990. Publicly Released: Apr 6, 1990.
GAO discussed the Federal Savings and Loan Corporation's (FSLIC) financial statements as of August, 1989, focusing on how much money would be needed to resolve the savings and loan crisis. GAO found that: (1) FSLIC needed $325 billion to pay off its obligations, resolve the problems of institutions awaiting resolution, pay interest on $30 billion in bonds, and pay some administrative expenses; (2)...
Failed Thrifts: Resolution Trust Corporation and 1988 Bank Board Resolution Actions
T-GGD-90-29: Published: Apr 2, 1990. Publicly Released: Apr 2, 1990.
GAO discussed the Resolution Trust Corporation's (RTC) resolution of insolvent thrifts. GAO noted that: (1) RTC had either sold or liquidated 52 thrifts and placed 350 thrifts in its conservatorship program as of March 21, 1990; (2) RTC expected to become responsible for resolving 558 to 628 institutions; (3) the pace and structure of RTC resolutions and its marketing and selection process represe...
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...
Thrift Industry: The Role of Federal Home Loan Bank Advances
GGD-89-123: Published: Sep 21, 1989. Publicly Released: Sep 21, 1989.
Pursuant to a congressional request, GAO analyzed certain aspects of the Federal Home Loan Banks' Advances Program, under which the 12 district banks made collateralized loans to member thrift institutions.GAO found that: (1) the asset portfolios of thrifts that heavily relied on advances were not very different from the asset portfolios of thrifts that only lightly depended on advances or did not...
Financial Condition of the Federal Deposit Insurance Corporation's Bank Insurance Fund
T-AFMD-89-15: Published: Sep 19, 1989. Publicly Released: Sep 19, 1989.
GAO discussed the financial condition of the Federal Deposit Insurance Corporation's (FDIC) Bank Insurance Fund. GAO noted that: (1) FDIC spent $7.3 billion during 1988 to assist record numbers of insolvent or barely solvent banks; (2) the fund incurred its first net loss, totalling $4.2 billion, in 1988, and also reduced its ratio of fund balance to insured deposits to 0.83, the lowest level ever...
Troubled Thrifts: Use of Supervisory Enforcement Actions
GGD-89-105BR: Published: Jul 19, 1989. Publicly Released: Jul 19, 1989.
Pursuant to a congressional request, GAO provided information on the Federal Home Loan Bank Board's (FHLBB) supervisory enforcement actions to prevent or correct targeted violations or unsafe or unsound practices.GAO found that FHLBB enforcement actions at 47 near-failing thrifts between January 1986 and December 1988 were not always effective in preventing or correcting violations or unsafe or un...
Failed Thrifts: Allegations at FirstSouth Receivership in Little Rock, Arkansas
GGD-89-98: Published: Jun 16, 1989. Publicly Released: Jun 21, 1989.
Pursuant to a congressional request, GAO investigated four allegations of wrongdoing concerning a Federal Savings and Loan Insurance Corporation (FSLIC) receivership.GAO found that the receivership: (1) had an invalid contract with a former receivership property manager to appeal property taxes, since the managing officer exceeded her authority in entering the contract, and the contractor charged...