Risk management (21 - 30 of 55 items)
Federal Reserve Banks: Areas for Improvement in Information Security Controls
GAO-08-836R: Published: Jun 16, 2008. Publicly Released: Jun 16, 2008.
In connection with fulfilling our requirement to audit the financial statements of the U.S. government, we audited and reported on the Schedules of Federal Debt Managed by the Bureau of the Public Debt (BPD) for the fiscal years ended September 30, 2007 and 2006. As part of these audits, we performed a review of the general and application information security controls over key financial systems m...
Hedge Funds: Regulators and Market Participants Are Taking Steps to Strengthen Market Discipline, but Continued Attention Is Needed
GAO-08-200: Published: Jan 24, 2008. Publicly Released: Feb 25, 2008.
Since the 1998 near collapse of Long-Term Capital Management (LTCM), a large hedge fund--a pooled investment vehicle that is privately managed and often engages in active trading of various types of securities and commodity futures and options--the number of hedge funds has grown, and they have attracted investments from institutional investors such as pension plans. Hedge funds generally are reco...
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...
Corporate Credit Unions: Competitive Environment May Stress Financial Condition, Posing Challenges for NCUA Oversight
GAO-04-977: Published: Sep 10, 2004. Publicly Released: Oct 12, 2004.
Thousands of credit unions have placed about $55 billion of their excess funds in corporate credit unions (corporates). In a three-tiered system, corporates provide lending, investment, and processing services for their member credit unions. Problems with investments in the past prompted regulatory changes that required higher capitalization and stricter risk management, but allowed for expanded i...
Government-Sponsored Enterprises: A Framework for Strengthening GSE Governance and Oversight
GAO-04-269T: Published: Feb 10, 2004. Publicly Released: Feb 10, 2004.
Congress established government sponsored enterprises (GSE)-- such as Fannie Mae, Freddie Mac, the FHLBank System, and the Farm Credit System--to facilitate the development of mortgage and agricultural lending in the United States. Although the federal government does not explicitly guarantee the GSEs' approximately $4.4 trillion in financial obligations, the potential exists that the government w...
World Bank: Management Controls Stronger, but Challenges in Fighting Corruption Remain
NSIAD-00-73: Published: Apr 6, 2000. Publicly Released: Apr 6, 2000.
Pursuant to a legislative requirement, GAO provided information on the World Bank's management controls.GAO noted that: (1) in its efforts to address corruption concerns, the Bank has undertaken an ambitious and systematic effort to identify and correct key weaknesses in its system of management controls; (2) the Bank has made significant progress in meeting each of the five standards of an effect...
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 Plan--Fiscal Year 1998
IAP-97-22: Published: Aug 1, 1997. Publicly Released: Aug 1, 1997.
GAO presented its Financial Institutions and Markets issue area plan for fiscal year 1998.GAO plans to assess the: (1) regulatory framework for financial system integrity and the government's role in maintaining an efficient and competitive financial services industry; (2) Federal Reserve System, the supervision of foreign banks in the U.S. banking system, the bank regulatory structure in foreign...
Financial Institutions and Markets Issue Area Plan--Fiscal Years 1997-98
IAP-96-11: Published: May 1, 1996. Publicly Released: May 1, 1996.
GAO presented its Financial Institutions and Markets issue area plan for fiscal years 1997 through 1998.GAO plans to: (1) identify how financial institutions, markets, and regulatory agencies respond to the changing demands and technological advances of the global marketplace; (2) evaluate existing laws' impact on market efficiency, competition, and U.S. financial institutions; (3) improve the reg...
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...