Lending institutions (11 - 20 of 143 items)
Troubled Asset Relief Program: Status of Treasury's Investments in General Motors and Ally Financial
GAO-14-6: Published: Oct 29, 2013. Publicly Released: Oct 29, 2013.
Since receiving federal assistance, General Motors Company (GM) has shown increasingly positive financial results. For each of the past 3 years, GM has reported profits, positive and growing operational cash flow, and a stable liquidity position. This improved financial performance has been reflected in GM's credit rating, as each of the three largest credit rating agencies has increased GM's long...
Troubled Asset Relief Program: Treasury's Use of Auctions to Exit the Capital Purchase Program
GAO-13-630: Published: Jul 8, 2013. Publicly Released: Jul 8, 2013.
The U.S. Department of the Treasury (Treasury) has increasingly used auctions to sell its Capital Purchase Program (CPP) investments. Initially, Treasury relied primarily on financial institutions redeeming their shares to wind down the program. However, in March 2012 Treasury began using auctions to exit CPP, and more institutions have exited the program through auctions than through any other me...
Dodd-Frank Act: Agencies' Efforts to Analyze and Coordinate Their Rules
GAO-13-101: Published: Dec 18, 2012. Publicly Released: Dec 18, 2012.
Federal agencies conducted the regulatory analyses required by various federal statutes for all 54 regulations issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) that GAO reviewed. As part of their analyses, the agencies generally considered, but typically did not quantify or monetize, the benefits and costs of these rules. Most of the federal financi...
Community Banks and Credit Unions: Impact of the Dodd-Frank Act Depends Largely on Future Rule Makings
GAO-12-881: Published: Sep 13, 2012. Publicly Released: Sep 13, 2012.
While the number of community banks and credit unions has declined in recent years, they have remained important lenders to small businesses and other local customers. From 1985 through 2010, the number of banks under $10 billion in assets and credit unions declined by over 50 percent to 7,551 and 7,339, respectively. The decline resulted largely from consolidations, which were facilitated by chan...
Dodd-Frank Act Regulations: Implementation Could Benefit from Additional Analyses and Coordination
GAO-12-151: Published: Nov 10, 2011. Publicly Released: Nov 10, 2011.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requires or authorizes various federal financial regulators to issue hundreds of rules to implement reforms intended to strengthen the financial services industry. GAO is required to annually study financial services regulations. This report examines (1) the regulatory analyses, including cost-benefit analyses, financia...
Troubled Asset Relief Program: Status of GAO Recommendations to Treasury
GAO-11-906R: Published: Sep 16, 2011. Publicly Released: Sep 16, 2011.
Nearly 3 years ago, the Emergency Economic Stabilization Act of 2008 (EESA) authorized the creation of the Troubled Asset Relief Program (TARP) to address the most severe crisis that the financial system had faced in decades. EESA provided GAO with broad oversight authorities for actions taken under TARP and required that we report at least every 60 days on TARP activities and performance. Our ove...
Bankruptcy: Complex Financial Institutions and International Coordination Pose Challenges
GAO-11-707: Published: Jul 19, 2011. Publicly Released: Jul 19, 2011.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd- Frank Act) created the Orderly Liquidation Authority (OLA) that can be used to resolve failed systemically important financial institutions. However, questions continued to be raised about the effectiveness of the U.S. Bankruptcy Code (Code) and current mechanisms for international coordination in bankruptcy cases. The Dodd-Frank...
Proprietary Trading: Regulators Will Need More Comprehensive Information to Fully Monitor Compliance with New Restrictions When Implemented
GAO-11-529: Published: Jul 13, 2011. Publicly Released: Jul 13, 2011.
In addition to trading on behalf of customers, banks and their affiliates have conducted proprietary trading, using their own funds to profit from short-term price changes in asset markets. To restrain risk-taking and reduce the potential for federal support for banking entities, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the act) prohibits banking entities from engaging in cer...
Person-To-Person Lending: New Regulatory Challenges Could Emerge as the Industry Grows
GAO-11-613: Published: Jul 7, 2011. Publicly Released: Jul 7, 2011.
Over the last decade, Internet-based platforms have emerged that allow individuals to lend money to other individuals in what has become known as person-to-person lending. These online platforms present a new source of credit for borrowers and a potential investment opportunity for those with capital to lend. Both for-profit and nonprofit options exist, allowing for income-generating and philanthr...
Bank Regulation: Modified Prompt Corrective Action Framework Would Improve Effectiveness
GAO-11-612: Published: Jun 23, 2011. Publicly Released: Jun 23, 2011.
More than 300 insured depository institutions have failed since the current financial crisis began in 2007, at an estimated cost of almost $60 billion to the deposit insurance fund (DIF), which covers losses to insured depositors. Since 1991, Congress has required federal banking regulators to take prompt corrective action (PCA) to identify and promptly address capital deficiencies at institutions...