Insured commercial banks (111 - 120 of 208 items)
Bank Supervision: OCC's Supervision of the Bank of New England Was Not Timely or Forceful
GGD-91-128: Published: Sep 16, 1991. Publicly Released: Sep 16, 1991.
Pursuant to a congressional request, GAO reviewed a major bank's failure, focusing on the: (1) causes of the failure; (2) extent to which insider activity may have contributed to the failures; and (3) Office of the Comptroller of the Currency (OCC) efforts to adequately assess safety and soundness deficiencies at the banks.GAO found that: (1) the bank grew rapidly from fiscal year (FY) 1985 to FY...
Failed Thrifts' Assets: RTC's Oversight of 1988 Deals Needs Improvement
GGD-91-116: Published: Aug 21, 1991. Publicly Released: Aug 21, 1991.
GAO assessed the Federal Savings and Loan Insurance Corporation's (FSLIC) oversight of the asset disposition plans submitted by institutions that acquired failed thrifts in fiscal year (FY) 1988 under financial assistance agreements.GAO found that: (1) FSLIC adhered to available guidance in approving or rejecting the asset disposition plans; (2) the 92 approved plans provided information on the hi...
Federal Asset Disposition Association: No Economic Basis for Reported Fee Income Under 1988 Letter Agreement
AFMD-91-15: Published: Jul 29, 1991. Publicly Released: Jul 29, 1991.
GAO reviewed a 1988 letter agreement for asset management services between the Federal Asset Disposition Association (FADA) and the Federal Savings and Loan Insurance Corporation (FSLIC), focusing on: (1) the justification for FSLIC paying FADA for services performed under the letter agreement; and (2) whether FADA fairly presented the FSLIC payments in its December 31, 1988, financial statements...
[Comments on FIRREA and CFO Act Audit Requirements for FDIC]
B-239201.3: Published: Jul 25, 1991. Publicly Released: Jul 25, 1991.
GAO commented on whether required audits of Federal Deposit Insurance Corporation (FDIC) financial statements, subject to audit provisions of the Federal Institutions Reform, Recovery, and Enforcement Act of 1989 and the Chief Financial Officers Act of 1990, were consistent. GAO noted that: (1) even though the audits GAO plans to conduct on three FDIC administered funds would satisfy the audit pro...
Resolution Trust Corporation: Structure and Oversight Issues
T-GGD-91-55: Published: Jul 15, 1991. Publicly Released: Jul 15, 1991.
GAO discussed issues related to the structure and oversight of the Resolution Trust Corporation (RTC), focusing on whether: (1) the standard structure and oversight of executive agencies would better facilitate attaining RTC accountability and least-cost goals; (2) standard Office of Management and Budget (OMB) oversight of federal agency activities would be sufficient for RTC activities; (3) cert...
Expanded Powers for Banking Organizations
T-GGD-91-52: Published: Jul 10, 1991. Publicly Released: Jul 10, 1991.
GAO discussed its views on modernizing the U.S. financial system, focusing on issues related to: (1) expanding banking organizations' powers; and (2) commercial ownership of U.S. banks. GAO noted that: (1) while benefits may exist from allowing banking organizations to increase their activities, competitors and other forces in the market could impose risks that would exacerbate the industry's prob...
Obligations Limitation: Resolution Trust Corporation's Compliance as of September 30, 1990
AFMD-91-63: Published: May 31, 1991. Publicly Released: Jul 1, 1991.
Pursuant to a congressional request, GAO assessed the Resolution Trust Corporation's (RTC) third-quarter compliance with the maximum RTC obligation limit set forth by the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989, which provided a formula calculating maximum allowable obligations.GAO found that: (1) none of the formula categories required by FIRREA were omitted...
Resolution Trust Corporation: Update on Funding and Performance
T-GGD-91-47: Published: Jun 17, 1991. Publicly Released: Jun 17, 1991.
GAO discussed the: (1) Resolution Trust Corporation's (RTC) estimates for future funding; (2) status of RTC operations and initiatives; and (3) reconstruction of RTC. GAO noted that: (1) the $80 billion Congress provided will not be sufficient to resolve all expected thrift failures; (2) since RTC sales of troubled assets were slower than hoped and future proceeds will be lower than anticipated, r...
Resolving Large Bank Failures
T-GGD-91-27: Published: May 9, 1991. Publicly Released: May 9, 1991.
GAO discussed issues associated with resolving large bank failures. GAO noted that: (1) the problems and incentives associated with resolving large bank failures show the need for comprehensive reform of the deposit insurance and bank supervisory systems; (2) any attempts to increase depositor discipline must be preceded by other reforms to improve the safety and soundness of banking operations; a...
Lessons Learned From Recent U.S. Banking Experience
143801: May 3, 1991
GAO discussed the lessons Europeans could learn from recent U.S. banking experience to help prepare them for a more deregulated financial services market. GAO noted that: (1) since banks were likely to engage in more risky activities to make up for limited profits, the quality of supervision must be high to control excessive bank risk-taking and to reduce costly failures; (2) accurate information...