Insured commercial banks (1 - 10 of 52 items)
Federal Deposit Insurance Act: Regulators' Use of Systemic Risk Exception Raises Moral Hazard Concerns and Opportunities Exist to Clarify the Provision
GAO-10-100: Published: Apr 15, 2010. Publicly Released: Apr 15, 2010.
In 2008 and 2009, the Federal Deposit Insurance Corporation (FDIC) provided emergency assistance that required the Secretary of the Department of the Treasury (Treasury) to make a determination of systemic risk under the systemic risk exception of the Federal Deposit Insurance Act (FDI Act). The FDI Act requires GAO to review each determination made. For the three determinations made to date, this...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2008 and 2007 Financial Statements
GAO-09-535: Published: May 28, 2009. Publicly Released: May 28, 2009.
GAO is required to annually audit the financial statements of the Deposit Insurance Fund (DIF) and FSLIC Resolution Fund (FRF), which are administered by the Federal Deposit Insurance Corporation (FDIC). GAO is responsible for obtaining reasonable assurance about whether FDIC's financial statements for DIF and FRF are presented fairly in all material respects, in conformity with U.S. generally acc...
1993 Bank Resolutions: FDIC Further Improved Its Resolution Process
GGD-95-118: Published: Jun 9, 1995. Publicly Released: Jun 9, 1995.
Pursuant to a legislative requirement, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) compliance with the Federal Deposit Insurance Corporation Improvement Act's (FDICIA) least-cost provisions for resolving troubled depository institutions.GAO found that: (1) FDIC has improved its resolution process and consistently makes decisions based on the least costly resolution alternatives...
Housing Finance: Improving the Federal Home Loan Bank System's Affordable Housing Program
RCED-95-82: Published: Jun 9, 1995. Publicly Released: Jun 9, 1995.
Pursuant to a legislative requirement, GAO reviewed the Federal Home Loan (FHL) Bank System's implementation of the Affordable Housing Program (AHP), focusing on: (1) how the program's funds have been used to support affordable housing initiatives; (2) how the program has been administered; and (3) what opportunities exist for program improvement.GAO found that: (1) the FHL Bank System provided ne...
AIMD-95-154R: Published: May 31, 1995. Publicly Released: May 31, 1995.
Pursuant to a congressional request, GAO provided information on the designated reserve ratio established for the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF). GAO noted that: (1) there is a minimum ratio of reserves to insured deposits of 1.25 percent or higher for BIF and SAIF; (2) the Federal Deposit Insurance Corporation may increase the designated ratio for any...
Failing Banks: Lessons Learned from Resolving First City Bancorporation of Texas
GGD-95-37: Published: Mar 15, 1995. Publicly Released: Mar 15, 1995.
Pursuant to a congressional request, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) resolution of the First City Bancorporation of Texas, focusing on: (1) why FDIC decided to resolve the corporation by providing financial assistance instead of using other available resolution alternatives; and (2) the additional cost to the Bank Insurance Fund (BIF) as a result of the resolution.G...
Financial Regulation: Modernization of the Financial Services Regulatory System
T-GGD-95-121: Published: Mar 15, 1995. Publicly Released: Mar 15, 1995.
GAO discussed the modernization of the financial services regulatory system. GAO noted that: (1) although the banking industry appears to have recovered from its recent crisis, it is premature to assume that fundamental concerns about risk management and regulatory supervision have been resolved; (2) while the regulatory system has adapted to the financial industry's movements on an ad hoc basis,...
Corporate Credit Unions: Condition, Issues, and Concerns
T-GGD-95-15: Published: Oct 6, 1994. Publicly Released: Oct 6, 1994.
Pursuant to a congressional request, GAO discussed issues concerning the financial condition and investment practices of corporate credit unions and the U.S. Central Credit Union. GAO noted that: (1) many small insured credit unions have placed a substantial part of their unloaned deposits in corporate credit unions for investment purposes; (2) the operation and investments of corporates must be f...
FDIC Equity Investments
GGD-94-196R: Published: Aug 26, 1994. Publicly Released: Aug 26, 1994.
GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) use of equity investments to facilitate the resolution of failed banks. GAO noted that: (1) although FDIC equity investments can reduce insurance fund losses and even generate profits, they can also increase potential losses and create conflicts of interest with FDIC roles as bank regulator and insurer; (2) FDIC does not have formal p...
1992 Thrift Resolutions: RTC Policies and Practices Did Not Fully Comply With Least-Cost Provisions
GGD-94-110: Published: Jun 17, 1994. Publicly Released: Jun 17, 1994.
Pursuant to a legislative requirement, GAO reviewed the Resolution Trust Corporation's (RTC) compliance with legislative requirements that it use the least costly method to resolve failed thrifts, focusing on: (1) 1992 RTC resolution policies and decisions, specifically its calculation and documentation of the costs of resolution alternatives; and (2) marketing aspects of the RTC resolution proces...