Bank management (41 - 50 of 103 items)
Modernize Banking...But With Care
147030: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses: (1) the Glass-Steagall Act's separation of the banking sector from the securities industry; (2) proposed reforms that would grant banks new powers to participate in the securities field; and (3) other suggestions for bank reform that would improve economic efficiency and ensure safety and soundness...
Thrift Resolutions: FSLIC 1988 and 1989 Assistance Agreement Costs Subject to Significant Uncertainties
AFMD-92-9: Published: Nov 18, 1991. Publicly Released: Nov 18, 1991.
Pursuant to a legislative requirement, GAO reported on the costs of bank assistance agreements that the Federal Savings and Loan Insurance Corporation (FSLIC) entered into between January 1, 1988 and August 9, 1989, focusing on the: (1) reliability of the Federal Deposit Insurance Corporation's (FDIC) December 31, 1990 total projected payments; and (2) status of the Resolution Trust Corporation's...
OCC's Supervision of the Bank of New England
T-GGD-91-66: Published: Sep 19, 1991. Publicly Released: Sep 19, 1991.
GAO discussed its review of a major bank's failure, focusing on the: (1) causes of the failure; (2) Office of the Comptroller of the Currency (OCC) efforts to adequately assess safety and soundness deficiencies at the bank; and (3) extent to which insider activity may have contributed to the failure. GAO noted that: (1) the bank grew rapidly from fiscal year (FY) 1985 to FY 1988, mainly through ac...
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...
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...
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...
Rebuilding the Bank Insurance Fund
T-GGD-91-25: Published: Apr 26, 1991. Publicly Released: Apr 26, 1991.
GAO discussed the preliminary results of its audit of the Bank Insurance Fund's 1990 financial statements and its views on how best to meet the Fund's financial needs. GAO noted that: (1) after paying for about 600 failed banks over 3 years, the Fund's estimated reserves as of December 31, 1990, totalled about $5 billion, representing about .26 percent of insured deposits; (2) the Administration's...
Accounting and Auditing Reforms Are Urgently Needed and Essential to Any Plan for Recapitalizing the Bank Insurance Fund or Deposit Insurance Reform
T-AFMD-91-3: Published: Apr 23, 1991. Publicly Released: Apr 23, 1991.
GAO discussed accounting and auditing reforms essential to recapitalizing the Bank Insurance Fund and modernizing the nation's banking system. GAO noted that: (1) accounting principles regarding loss contingencies and determining fair market value need revision and clarification to ensure the proper accounting and reporting of transactions; (2) if accounting rules cannot be promptly resolved, the...