Banking (31 - 40 of 93 items)
Check 21 Act: Questions for Consumers about Check 21 Act (GAO-09-9SP, October 2008), an E-supplement to GAO-09-8
GAO-09-9SP: Published: Oct 28, 2008. Publicly Released: Oct 28, 2008.
This product lists the questions asked and a summary of the answers given in a GAO-administered in-depth interview study with 108 bank checking account customers. These structured interviews were conducted to assess consumer acceptance of the check truncation process resulting from The Check Clearing for the 21st Century Act of 2003 (Check 21), one of the objectives of GAO's report on the Act's ef...
Risk-Based Capital: New Basel II Rules Reduced Certain Competitive Concerns, but Bank Regulators Should Address Remaining Uncertainties
GAO-08-953: Published: Sep 12, 2008. Publicly Released: Oct 14, 2008.
Basel II, the new risk-based capital framework based on an international accord, is being adopted by individual countries. It includes standardized and advanced approaches to estimating capital requirements. In the United States, bank regulators have finalized an advanced approaches rule that will be required for some of the largest, most internationally active banks (core banks) and proposed an o...
Federal Home Loan Banks: Too Soon to Tell the Potential Impact of Excess Stock Rule on the Affordable Housing Program
GAO-07-878R: Published: Jun 22, 2007. Publicly Released: Jun 22, 2007.
Affordable housing organizations and Federal Home Loan Bank (FHLBank) members have raised concerns that a Federal Housing Finance Board (FHFB) rule limiting excess stock could adversely impact FHLBank earnings. In particular, concerns have been raised regarding the FHLBanks' Affordable Housing Program (AHP), which subsidizes the cost of affordable housing with funds from the 12 FHLBanks, all of wh...
Deposit Insurance: Assessment of Regulators' Use of Prompt Corrective Action Provisions and FDIC's New Deposit Insurance System
GAO-07-242: Published: Feb 15, 2007. Publicly Released: Feb 15, 2007.
The Federal Deposit Insurance Reform Conforming Amendments Act of 2005 required GAO to report on the federal banking regulators' administration of the prompt corrective action (PCA) program under section 38 of the Federal Deposit Insurance Act (FDIA). Congress created section 38 as well as section 39, which required regulators to prescribe safety and soundness standards related to noncapital crite...
International Remittances: Information on Products, Costs, and Consumer Disclosures
GAO-06-204: Published: Nov 17, 2005. Publicly Released: Nov 17, 2005.
Remittances are personal funds immigrants send to their home countries. The United States is the largest remittance-sending country in the world, with more than $36 billion remitted in 2003, according to the International Monetary Fund. The majority of these remittances are sent to Latin America and the Caribbean and they are a very important source of financial flows to many countries. In 2004, t...
OFHEO's Risk-Based Capital Stress Test: Incorporating New Business Is Not Advisable
GAO-02-521: Published: Jun 28, 2002. Publicly Released: Jun 28, 2002.
GAO reviewed whether the Office of Federal Housing Enterprise Oversight (OFHEO) should incorporate new business assumptions into the stress test used to establish risk-based capital requirements. The stress test is designed to estimate, for a 10-year period, how much capital the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) would be...
Securities Regulation: Improvements Needed in the Amex Listing Program
GAO-02-18: Published: Nov 27, 2001. Publicly Released: Dec 20, 2001.
The Securities and Exchange Commission (SEC) has indicated that one-third of Amex's new listings did not meet the exchange's equity listing standards. Amex's listing guidelines address factors that are the same or similar to those addressed by other U.S. stock markets. Quantitative requirements addressed share price, stockholders' equity, income, and market value of publicly held shares. However,...
Securities Investor Protection: Steps Needed to Better Disclose SIPC Policies to Investors
GAO-01-653: Published: May 25, 2001. Publicly Released: Jun 21, 2001.
The Securities Investor Protection Act of 1970 created the Securities Investor Protection Corporation (SIPC) to help protect customers against losses from the failure of a securities firm. However, the large number of claims denied in several recent SIPC liquidation proceedings has raised concerns that some SIPC policies and practices may unduly limit the actual protection afforded customers. This...
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...