Banking regulation (71 - 80 of 177 items)
Credit Unions: Available Information Indicates No Compelling Need for Secondary Capital
GAO-04-849: Published: Aug 6, 2004. Publicly Released: Sep 7, 2004.
Since the passage of the Credit Union Membership Access Act of 1998 (CUMAA), many in the credit union industry have sought legislative changes to the net worth ratio central to prompt corrective action (PCA). The current debate centers on the issue of allowing federally insured credit unions to include additional forms of capital within the definition of net worth. In light of the issues surroundi...
Suspicious Banking Activities: Possible Money Laundering by U.S. Corporations Formed for Russian Entities
GAO-01-120: Published: Oct 31, 2000. Publicly Released: Nov 29, 2000.
This report discusses possible money laundering by U.S. corporations formed by Russian entities. It is easy for foreign entities to hide their identities while forming shell corporations that can be used for money laundering. GAO investigated the following two Delaware corporations that are suspected of money laundering: Euro-American Corporate Services, Inc. and International Business Creations....
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...
Capital Structure of the Federal Home Loan Bank System
GGD-99-177R: Published: Aug 31, 1999. Publicly Released: Sep 30, 1999.
Pursuant to a congressional request, GAO provided information on the capital structure of the Federal Home Loan Bank System.GAO noted that: (1) GAO has consistently supported the establishment of risk-based capital standards applied in combination with a leverage ratio that requires a minimum capital-to-asset ratio for the System; (2) a risk-based capital standard offers a number of benefits that...
Federal Reserve Board: Merger Process Needs Guidelines for Community Reinvestment Issues
GGD-99-180: Published: Sep 24, 1999. Publicly Released: Sep 24, 1999.
Pursuant to a congressional request, GAO reviewed large bank holding company mergers and the impact of such mergers on low- and moderate-income (LMI) areas, focusing on: (1) the Federal Reserve Board's (FRB) legal responsibilities in assessing Bank Holding Company Act of 1956 (BHC) mergers for Community Reinvestment Act of 1977 (CRA) performance; (2) FRB's process for assessing the CRA performance...
Federal Housing Finance Board: Actions Needed to Improve Regulatory Oversight
GGD-98-203: Published: Sep 18, 1998. Publicly Released: Sep 18, 1998.
Pursuant to a congressional request, GAO reviewed the Federal Housing Finance Board's (FHFB) safety and soundness and mission compliance oversight, focusing on evaluating: (1) FHFB's annual safety and soundness and mission compliance examinations of the Federal Home Loan Banks (FHLBanks); (2) other aspects of FHFB's oversight; and (3) the status of FHFB's involvement in the Federal Home Loan Bank...
Financial Institutions and Markets Issue Area Plan for Fiscal Years 1999-2001
IAP-98-22: Published: Sep 1, 1998. Publicly Released: Sep 1, 1998.
GAO presented its Financial Institutions and Markets issue area plan for fiscal years 1999-2001.GAO plans to assess the: (1) regulatory framework for ensuring financial system integrity and the government's role in fostering an efficient financial services industry and competitive financial markets; (2) oversight of listing procedures by self-regulatory organizations, banks' experience in implemen...
Financial Institutions and Markets Issue Area: Active Assignments
AA-98-6(3): Published: Aug 1, 1998. Publicly Released: Aug 1, 1998.
GAO provided information on its active assignments in the Financial Institutions and Markets issue area as of August 17, 1998...
Bank Supervision: Closure of the Rushville National Bank
GGD-98-80: Published: Jun 15, 1998. Publicly Released: Jun 15, 1998.
Pursuant to a congressional request, GAO reviewed the events leading up to the 1992 closure of the Rushville National Bank by the Office of the Comptroller of the Currency (OCC), focusing on whether OCC followed its policies and procedures in its: (1) net worth calculation and loan classifications, which led to Rushville's being declared insolvent; (2) decision to close the bank before implementat...