Banking regulation (91 - 100 of 338 items)
Financial Regulation: Review of Selected Operations of the Federal Housing Finance Board
GAO-03-364: Published: Feb 28, 2003. Publicly Released: Feb 28, 2003.
The Federal Home Loan Bank System (System) faces additional risks due to the development of new products such as direct mortgage purchase programs. Responding to concern about the methods used for administrative decisionmaking, and the ability of the Federal Housing Finance Board (FHFB) to fulfill its critical mission to regulate the safety and soundness of the System, GAO was asked to (1) compare...
Bank Regulation: Analysis of the Failure of Superior Bank, FSB, Hinsdale, Illinois
GAO-02-419T: Published: Feb 7, 2002. Publicly Released: Feb 7, 2002.
The Federal Deposit Insurance Corporation (FDIC) has projected that the failure of Superior Bank could cost the deposit insurance fund as much as $526 million. A major reason for the failure was Superior Bank's business strategy of originating and securing subprime loans on a large scale. In addition to the concentration in risky assets, the bank did not properly value and account for the interest...
Suspicious Banking Activities: Possible Money Laundering by U.S. Corporations Formed for Russian Entities
GAO-01-120: Published: Oct 31, 2000. Publicly Released: Nov 29, 2000.
This report discusses possible money laundering by U.S. corporations formed by Russian entities. It is easy for foreign entities to hide their identities while forming shell corporations that can be used for money laundering. GAO investigated the following two Delaware corporations that are suspected of money laundering: Euro-American Corporate Services, Inc. and International Business Creations....
Federal Reserve System: Mandated Report on Potential Conflicts of Interest
GAO-01-160: Published: Nov 13, 2000. Publicly Released: Nov 13, 2000.
The Federal Reserve System plays multiple roles in the payments system by virtue of its status as central bank, banking industry regulator, and payments service provider. Where these roles overlap, conflict, or potentially complement one another inappropriately, the Federal Reserve is faced with the challenge of managing or separating them in such a way as to ensure that it is fulfilling each role...
Bank Regulators' Evaluation of Electronic Signature Systems
GAO-01-129R: Published: Nov 8, 2000. Publicly Released: Nov 8, 2000.
This report discusses bank regulators' evaluation of electronic signature systems. Financial institutions use signature systems to verify or authenticate the identity of customers conducting financial and nonfinancial transactions over the Internet and other open electronic networks. Officials at the Office of the Comptroller of the Currency (OCC) and the Federal Reserve told GAO that they are dev...
Banking Taxation: Implications of Proposed Revisions Governing S-Corporations on Community Banks
GGD-00-159: Published: Jun 23, 2000. Publicly Released: Jun 23, 2000.
Pursuant to a legislative requirement, GAO: (1) analyzed possible revisions to the tax rules governing S-corporations; and (2) determined the potential impact such revisions might have, primarily on community banks.GAO noted that: (1) GAO studied five possible revisions to the tax rules governing S-corporations; (2) the proposed provisions were written to address perceived obstacles to becoming S-...
Risk-Focused Bank Examinations: Regulators of Large Banking Organizations Face Challenges
GGD-00-48: Published: Jan 24, 2000. Publicly Released: Jan 24, 2000.
Pursuant to a congressional request, GAO provided information on the risk-focused approaches used by the Federal Reserve and Office of the Comptroller of the Currency (OCC), focusing on: (1) the general characteristics of the regulators' risk-focused approach to examinations of large, complex banks, explaining how they differ from past examination practices; (2) comparing the implementation of the...
Private Banking: Raul Salinas, Citibank, and Alleged Money Laundering
T-OSI-00-3: Published: Nov 9, 1999. Publicly Released: Nov 9, 1999.
Pursuant to a congressional request, GAO discussed its 1998 investigation of alleged illegalities involving Raul Salinas de Gotari, brother of the former President of Mexico, Carlos Salinas de Gotari, and a U.S. bank, Citibank.GAO noted that: (1) Mr. Salinas was able to transfer $90 million to $100 million between 1992 and 1994 by using a private banking relationship formed by Citibank New York in...
Large Bank Mergers: Fair Lending Review Could be Enhanced With Better Coordination
GGD-00-16: Published: Nov 3, 1999. Publicly Released: Nov 3, 1999.
Pursuant to a congressional request, GAO reviewed large bank holding company mergers and regulatory enforcement of the Fair Housing Act and the Equal Credit Opportunity Act, focusing on the: (1) fair lending issues raid by consumer and community groups during the application process for six large bank holding company mergers; and (2) Federal Reserve Board's (FRB) consideration of those issues.GAO...
Capital Structure of the Federal Home Loan Bank System
GGD-99-177R: Published: Aug 31, 1999. Publicly Released: Sep 30, 1999.
Pursuant to a congressional request, GAO provided information on the capital structure of the Federal Home Loan Bank System.GAO noted that: (1) GAO has consistently supported the establishment of risk-based capital standards applied in combination with a leverage ratio that requires a minimum capital-to-asset ratio for the System; (2) a risk-based capital standard offers a number of benefits that...