Banking law (71 - 80 of 98 items)
Bank and Thrift Regulation: FDICIA Safety and Soundness Reforms Need to Be Maintained
T-AIMD-93-5: Published: Sep 23, 1993. Publicly Released: Sep 23, 1993.
GAO discussed H.R. 962, the Economic Growth and Financial Institutions Regulatory Paperwork Act of 1993, focusing on the effect this bill would have on credit availability and the safety and soundness of the industry. GAO noted that: (1) H.R. 962 proposes eliminating or altering several of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) safety and soundness reforms conce...
Foreign Bank: Initial Assessment of Certain BCCI Activities in the U.S.
GGD-92-96: Published: Sep 30, 1992. Publicly Released: Oct 23, 1992.
Pursuant to a congressional request, GAO: (1) reviewed the operations of a foreign bank's representative office in Washington, D.C.; and (2) assessed the federal banking agencies' efforts to determine if the bank, through its secret ownership of U.S. commercial banks, abused those banks for its own benefit.GAO: (1) found no evidence of direct payments to U.S. government officials and only nominal...
Condition of the Bank Insurance Fund: Outlook Affected by Economic, Accounting, and Regulatory Issues
T-AFMD-92-11: Published: Jun 30, 1992. Publicly Released: Jun 30, 1992.
GAO discussed the Bank Insurance Fund's (BIF) financial statements. GAO noted that: (1) BIF 1991 financial statements disclosed a $7-billion deficit, a culmination of 4 consecutive years of net losses; (2) the Federal Deposit Insurance Corporation's (FDIC) resolution activities may not be keeping pace with the recognition of losses from troubled institutions; (3) the number of identified problems...
Money Laundering: Civil Penalty Referrals for Violations of the Bank Secrecy Act Have Declined
T-GGD-92-57: Published: Jun 30, 1992. Publicly Released: Jun 30, 1992.
GAO discussed the Department of the Treasury's Office of Financial Enforcement (OFE) processing of civil penalty referrals for Bank Secrecy Act violations. GAO noted that: (1) OFE has not timely processed civil penalty referrals, and many referrals awaiting resolution had periods of inactivity ranging from several months to over a year; (2) OFE assessed penalties in about 11 percent of the cases i...
Corporate Accountability: A Time for Reform
147444: Jan 23, 1992
GAO discussed legislation Congress passed providing $70 billion in loans to shore up the Federal Deposit Insurance Corporation's Bank Insurance Fund. GAO noted that: (1) the legislation requires federal bank regulators to more timely deal with problem banks before they deplete bank capital; (2) real corporate accountability is impossible without a board of directors that is independent of manageme...
A Nonbanker's Perspective on Banking Reform
147032: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses principles that policymakers should keep in mind as they consider banking regulation reforms, focusing on: (1) increasing protection of taxpayers and depositors by reducing risks; (2) the changing dynamics of the global economy and the development of markets to offer needed services; and (3) equitable treatment,...
Commercial Banking in the United States: A Look Back and a Look Ahead
147029: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses: (1) the U.S. banking industry's attempts to address trends that weakened the U.S. banking system during the 1980s, including high inflation rates, asset quality problems, rapidly rising operating costs, weakened capital, and an unrealistic market structure; and (2) issues that still require the banking industry...
Girding for Competition
147028: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses the Federal Deposit Insurance Corporation Improvement Act of 1991 and its effects on the banking industry and U.S. financial system, focusing on the act's provisions for: (1) more promptly closing insolvent banks; (2) accounting and auditing reforms for both banks and their regulators; and (3) forcing banks and...
Modernize Banking...But With Care
147030: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses: (1) the Glass-Steagall Act's separation of the banking sector from the securities industry; (2) proposed reforms that would grant banks new powers to participate in the securities field; and (3) other suggestions for bank reform that would improve economic efficiency and ensure safety and soundness...
Financial Institutions: Time Limits on Holding Deposits Generally Met but More Oversight Needed
GGD-91-132: Published: Sep 30, 1991. Publicly Released: Sep 30, 1991.
Pursuant to a legislative requirement, GAO evaluated the implementation and administration of the Expedited Funds Availability Act (EFAA), which limits the length of time that financial institutions can hold funds from checks deposited into customer accounts, focusing on the Federal Reserve Board's (FRB) efforts to establish examination procedures and monitor the act's compliance.GAO found that: (...