Bank failures (71 - 80 of 92 items)
Thrift Failures: Costly Failures Resulted From Regulatory Violations and Unsafe Practices
AFMD-89-62: Published: Jun 16, 1989. Publicly Released: Jun 16, 1989.
GAO reviewed the Federal Savings and Loan Corporation's (FSLIC) activities to: (1) identify the common characteristics of the most costly failed thrifts, focusing on violations of federal laws or regulations, related unsafe practices, and fraud and insider abuse; (2) compare and contrast the characteristics with solvent thrifts; and (3) identify the impact of deregulation, regional or local econom...
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...
Troubled Thrifts: Bank Board Use of Enforcement Actions
GGD-89-68BR: Published: Apr 13, 1989. Publicly Released: May 5, 1989.
In response to a congressional request, GAO provided preliminary information from its assessment of the Federal Home Loan Bank Board's (FHLBB) enforcement actions against near-failing thrift institutions.GAO found that: (1) FHLBB took no formal enforcement action against over 50 percent of the 424 thrift institutions upon which it focused increased oversight; (2) FHLBB placed thrift institutions i...
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...
Failed Thrifts: Bank Board's 1988 Texas Resolutions
GGD-89-59: Published: Mar 11, 1989. Publicly Released: Mar 11, 1989.
Pursuant to a congressional request, GAO reviewed the Federal Home Loan Bank Board's (FHLBB) assistance of 87 insolvent Texas thrifts during 1988.GAO found that the FHLBB Southwest Plan for resolving the insolvent thrift problem: (1) focused primarily on Texas, since its insolvent thrifts constituted about 25 percent of all insolvent thrifts and held 34 percent of insolvent thrift assets; (2) cons...
Resolving the Savings and Loan Crisis
T-GGD-89-7: Published: Feb 22, 1989. Publicly Released: Feb 22, 1989.
GAO discussed and made recommendations on how best to resolve the savings and loan crisis. GAO found that: (1) the Federal Home Loan Bank Board's (FHLBB) emphasis on industry promotion and the Federal Savings and Loan Insurance Corporation's (FSLIC) lack of independence weakened the FSLIC risk management and insurance function; (2) in order to resolve the crisis, FSLIC needs at least $85 billion m...
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...
Transition Series: Financial Services Industry Issues
OCG-89-4TR: Published: Nov 1, 1988. Publicly Released: Nov 1, 1988.
GAO summarized information on issues the federal government should consider relating to the financial services industry, including the: (1) handling of troubled financial institutions; (2) regulation of mergers between banking and nonbanking institutions; (3) regulation of linked securities and futures markets; and (4) regulation of global capital markets.GAO noted that: (1) almost a third of the...
The Federal Savings and Loan Insurance Corporation--Current Financial Condition and Outlook
T-AFMD-88-12: Published: May 19, 1988. Publicly Released: May 19, 1988.
GAO discussed the Federal Savings and Loan Insurance Corporation's (FSLIC) financial condition. GAO noted that, during 1987: (1) one-third of the 3,147 FSLIC-insured savings and loan institutions experienced $13.4 billion in losses due to diversification into riskier activities, the high cost of funds, and insufficient management; (2) 500 insolvent institutions and 435 barely solvent institutions...