Bank examination (41 - 50 of 53 items)
Thrift Crisis: Strategic Plan for Resolution Trust Corporation and Management of FSLIC Deals
T-GGD-90-14: Published: Jan 25, 1990. Publicly Released: Jan 25, 1990.
GAO discussed its review of the: (1) Resolution Trust Corporation (RTC) Oversight Board's strategic plan for resolution of thrifts with appointed conservators or receivers; and (2) cost and management of the Federal Savings and Loan Insurance Corporation's (FSLIC) thrift resolutions that occurred between 1988 and the establishment of RTC. GAO noted that, although the strategic plan presented the B...
Bank Failures: Independent Audits Needed to Strengthen Internal Control and Bank Management
AFMD-89-25: Published: May 31, 1989. Publicly Released: May 31, 1989.
GAO reviewed recent bank failures, focusing on: (1) the internal weaknesses and environmental factors which examiners cited for insured banks that failed in 1987; (2) the extent to which insider abuse and fraud affected the same failed banks; and (3) potential areas of concern which could be used for congressional oversight and policy deliberation, federal bank examination and supervision, bank ma...
Failed Thrifts: Internal Control Weaknesses Create an Environment Conducive to Fraud, Insider Abuse, and Related Unsafe Practices
T-AFMD-89-4: Published: Mar 22, 1989. Publicly Released: Mar 22, 1989.
GAO discussed thrift management practices which primarily caused thrift insolvency and failure. GAO noted that: (1) the Federal Home Loan Bank Board (FHLBB) cited criminal activity, fraud, and insider abuse as the primary causes of thrift insolvency; (2) examination of 26 failed thrifts showed that 85 referrals for alleged criminal activity were made regarding 19 thrifts; (3) investigations led to...
Failed Thrifts: GAO's Analysis of Bank Board 1988 Deals
T-GGD-89-11: Published: Mar 14, 1989. Publicly Released: Mar 14, 1989.
GAO discussed Federal Savings and Loan Insurance Corporation (FSLIC)-assisted sales of failed thrifts. GAO found that: (1) the costs of the sales will exceed FSLIC estimates if guaranteed assets do not have the projected values or if interest rates increase; (2) tax laws granted tax benefits to insolvent thrift acquirers and allowed deduction of presale net operating losses from their future incom...
Resolving Texas Thrift Problems
T-GGD-89-10: Published: Mar 11, 1989. Publicly Released: Mar 11, 1989.
GAO discussed the Federal Savings and Loan Insurance Corporation's (FSLIC) resolution of insolvent thrift institutions in Texas. GAO found that the current strategy for resolving insolvent institutions: (1) provided financial assistance in the form of notes and guarantees to attract prospective acquirers; (2) did not result in any liquidations, and prospective acquirers lacked any knowledge of the...
Bank and Savings and Loan Insurance Funds: Financial Condition and Proposed Reforms
T-AFMD-89-3: Published: Mar 10, 1989. Publicly Released: Mar 10, 1989.
GAO discussed the financial condition of the banking industry and the savings and loan (S&L) industry, and recommendations for solving the S&L crisis. GAO found that: (1) despite the adverse events of the last decade, the banking industry and its insurer, the Federal Deposit Insurance Corporation (FDIC), remain fairly healthy; (2) U.S. banks in general have curtailed or eliminated new loans to les...
High Yield Bond Market
T-GGD-89-9: Published: Mar 2, 1989. Publicly Released: Mar 2, 1989.
GAO discussed: (1) the use of high-yield bonds in corporate takeovers; and (2) federally insured thrift institutions' high-yield bond investments. GAO noted that: (1) high-yield bonds provided 12 percent of financing for hostile corporate takeovers, although some initial financing sources were refinanced using high-yield bonds; (2) the high-yield bond market grew from about $9 billion in 1977 to $...
Banking: Conflict of Interest Abuses in Commercial Banking Institutions
GGD-89-35: Published: Jan 27, 1989. Publicly Released: Feb 27, 1989.
In response to a congressional request, GAO provided information on conflicts of interest in commercial banking institutions, focusing on: (1) the types of conflicts of interest and associated abuses; (2) how to control conflicts of interest and limit associated abuses; and (3) the impact of expanded banking securities powers on conflicts of interest and associated abuses.GAO interviewed bankers,...
Troubled Financial Institutions: Solutions to the Thrift Industry Problem
GGD-89-47: Published: Feb 21, 1989. Publicly Released: Feb 21, 1989.
In response to a congressional request, GAO discussed: (1) the benefits and disadvantages of merging the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings and Loan Insurance Corporation (FSLIC); and (2) actions needed to restore the deposit system's financial health.GAO believes that: (1) the current strategy for resolving insolvent institutions is costly and does not consider t...
Failed Thrifts: No Compelling Evidence of a Need for the Federal Asset Disposition Association
GGD-89-26: Published: Dec 12, 1988. Publicly Released: Dec 12, 1988.
In response to a congressional request, GAO assessed the Federal Savings and Loan Insurance Corporation's (FSLIC) continued need for the Federal Asset Disposition Association (FADA) to determine: (1) the legality of the Federal Home Loan Bank Board's (FHLBB) creation of FADA; and (2) whether FSLIC continued to need FADA.GAO found that FHLBB improperly created FADA as a federal savings and loan ass...