Economic stabilization (1 - 4 of 4 items) in Past Year
Revenue Collections and Payments: Treasury Has Used Financial Agents in Evolving Ways but Could Improve Transparency
GAO-17-176: Published: Jan 25, 2017. Publicly Released: Feb 24, 2017.
The Department of the Treasury's (Treasury) use of financial agents has evolved as it has moved from paper to electronic transactions in response to changes in technology and new laws. Treasury has a long history of using financial agents to support its core functions of disbursing payments and collecting revenue. Since the 1980s, Treasury has used agents to move from paper to electronic transacti...
Financial Audit: Office of Financial Stability (Troubled Asset Relief Program) Fiscal Years 2016 and 2015 Financial Statements
GAO-17-125R: Published: Nov 10, 2016. Publicly Released: Nov 10, 2016.
GAO found (1) the Office of Financial Stability (OFS) financial statements for the Troubled Asset Relief Program (TARP) as of and for the fiscal years ended September 30, 2016, and 2015, are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) OFS maintained, in all material respects, effective internal control over financial reporting f...
Troubled Asset Relief Program: Most Community Development Capital Initiative Investments Remain Outstanding
GAO-16-626: Published: Jul 5, 2016. Publicly Released: Jul 5, 2016.
As of March 31, 2016, the Department of the Treasury (Treasury) had approximately 76 percent of the original Community Development Capital Initiative (CDCI) investment outstanding and 57 institutions remained. Treasury's total investment was about $570 million. Treasury received about $136 million in principal repayments and had written off about $7 million. The program's outstanding investment ba...
Troubled Asset Relief Program: Capital Purchase Program Largely Has Wound Down
GAO-16-524: Published: May 6, 2016. Publicly Released: May 6, 2016.
The Capital Purchase Program (CPP) largely has wound down and the Department of the Treasury's (Treasury) returns on CPP investments surpassed the original amount disbursed. As of February 29, 2016, Treasury had received $226.7 billion in repayments and income from its CPP investments, exceeding the amount originally disbursed by almost $22 billion. As of the same date, 16 of the 707 institutions...