Banking (1 - 5 of 5 items) in Past Year
Financial Audit: Federal Deposit Insurance Corporation Funds' 2016 and 2015 Financial Statements
GAO-17-299R: Published: Feb 15, 2017. Publicly Released: Feb 15, 2017.
GAO found (1) the financial statements of the Deposit Insurance Fund (DIF) and of the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF) as of and for the years ended December 31, 2016, and 2015, are fairly presented, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) although internal controls could be improved, the Federal De...
Federal Reserve: Additional Actions Could Help Ensure the Achievement of Stress Test Goals
GAO-17-48: Published: Nov 15, 2016. Publicly Released: Nov 15, 2016.
The Board of Governors of the Federal Reserve System (Federal Reserve) has two related supervisory programs that involve stress testing but serve different purposes. Stress tests are hypothetical exercises that assess the potential impact of economic, financial, or other scenarios on the financial performance of a company. Stress tests of banking institutions typically evaluate if the institutions...
Troubled Asset Relief Program: New Effort to Wind Down the Community Development Capital Initiative
GAO-17-96: Published: Nov 4, 2016. Publicly Released: Nov 4, 2016.
As of September 30, 2016, the Department of the Treasury (Treasury) had approximately $420 million, or 75 percent, of the original Community Development Capital Initiative (CDCI) investment of $570 million, outstanding. Of the original 84 participating institutions, 55 remained. Treasury has received about $144 million in principal repayments and about $61 million in dividend and interest payments...
Federal Reserve: Observations on Regulation D and the Use of Reserve Requirements
GAO-17-117: Published: Oct 6, 2016. Publicly Released: Oct 17, 2016.
The methods by which depository institutions can implement Regulation D (Reserve Requirements of Depository Institutions) include maintaining reserves against transaction accounts and enforcing a numeric transfer and withdrawal (transaction) limit for savings deposits if they wish to avoid classifying those accounts as reservable transaction accounts. GAO estimates that 70–78 percent of deposito...
Nonbank Mortgage Servicers: Existing Regulatory Oversight Could Be Strengthened [Reissued on April 14, 2016]
GAO-16-278: Published: Mar 10, 2016. Publicly Released: Apr 11, 2016.
The share of home mortgages serviced by nonbanks increased from approximately 6.8 percent in 2012 to approximately 24.2 percent in 2015 (as measured by unpaid principal balance). However, banks continued to service the remainder (about 75.8 percent). Some market participants GAO interviewed said nonbank servicers' growth increased the capacity for servicing delinquent loans, but they also noted ch...