Risk management (51 - 55 of 55 items)
Failed Banks: Accounting and Auditing Reforms Urgently Needed
AFMD-91-43: Published: Apr 22, 1991. Publicly Released: Apr 22, 1991.
GAO analyzed the financial reports prepared by managers and regulators' examination reports for 39 banks that failed in 1988 and 1989 to identify: (1) the impact of accounting and internal control weaknesses on those failures; and (2) reforms that could minimize future losses to the Bank Insurance Fund.GAO found that: (1) examination of the call reports banks prepared an average 6 months prior to...
Resolution Trust Corporation: Status of Selected Management Issues
T-GGD-91-4: Published: Dec 6, 1990. Publicly Released: Dec 6, 1990.
GAO discussed selected management issues regarding the Resolution Trust Corporation (RTC), focusing on its: (1) established organizational structure; (2) management of its conservatorships; (3) resolution of failed thrifts; and (4) disposal of financial and real estate assets. GAO noted that: (1) from August 1989 through September 1990, RTC resolved 287 thrifts; (2) as of September 30, 1990, RTC m...
RTC Asset Management: Contracting Controls Need to Be Strengthened
T-GGD-90-53: Published: Sep 24, 1990. Publicly Released: Sep 24, 1990.
GAO discussed the Resolution Trust Corporation's (RTC) contracting practices. GAO noted that: (1) in January 1990, GAO cited RTC as 1 of 14 federal programs that were highly vulnerable to fraud, waste, and abuse; and (2) as of June 30, 1990, RTC resolved 207 thrifts and controlled $168 billion in assets, including 40,000 properties with a book value of about $16 billion. GAO also noted that RTC re...
Deposit Insurance and Related Reforms
T-GGD-90-46: Published: Sep 19, 1990. Publicly Released: Sep 19, 1990.
GAO discussed deposit insurance reform. GAO noted that the current deposit insurance system is not the relatively and inexpensive proposition it appeared to be in the past because most of the characteristics which deflected risk away from the banks have been stripped away or significantly diminished due to advances in technology and other factors. GAO also noted that actions that could align the d...
Bank Insurance Fund: Additional Reserves and Reforms Needed to Strengthen the Fund
AFMD-90-100: Published: Sep 11, 1990. Publicly Released: Sep 11, 1990.
GAO: (1) audited the Bank Insurance Fund's financial statements for the years ended December 31, 1989, and 1988; and (2) discussed serious problems facing the banking industry, the Fund's ability to deal with those problems, and reforms to strengthen the Fund.GAO found that: (1) although the Fund had the resources to handle anticipated bank failures in 1990, its low level of reserves, coupled with...