Deposit insurance (31 - 40 of 47 items)
Deposit Insurance: A Strategy for Reform
GGD-91-26: Published: Mar 4, 1991. Publicly Released: Mar 4, 1991.
Pursuant to a legislative requirement, GAO reviewed issues associated with reforming the federal deposit insurance system, focusing on whether such reforms will result in a more safe, sound, and stable banking industry.GAO presented a comprehensive three-part reform program that could change the way banks are regulated and supervised, as well as the way the deposit insurance system functions, focu...
Banks and Thrifts: Cause of Federal Regulators' Delays in Releasing Timely Call Report Data
IMTEC-91-26BR: Published: Feb 26, 1991. Publicly Released: Feb 26, 1991.
Pursuant to a congressional request, GAO provided information on: (1) federal bank and thrift regulators' automated processes for collecting, producing, and distributing call report data; and (2) causes of and regulators' responses to recent delays experienced in releasing such information.GAO found that: (1) banks and thrifts transmitted the data electronically via computer links or sent it manua...
[Comments on Bank Insurance Fund Recapitalization Plan]
142769: Dec 7, 1990
GAO commented on plans to recapitalize the Bank Insurance Fund by requiring banks to purchase preferred stock from the Federal Deposit Insurance Corporation (FDIC). GAO expressed concern that proper accounting should be used by both FDIC and the banks if the stock was issued...
Comments on H.R. 5590: A Bill to Recapitalize the Bank Insurance Fund
T-GGD-90-64: Published: Sep 27, 1990. Publicly Released: Sep 27, 1990.
GAO discussed proposed legislation that would recapitalize the Bank Insurance Fund (BIF) by requiring banks to contribute 1 percent of their total deposits. GAO found that: (1) in the past 2 years, the Federal Deposit Insurance Corporation (FDIC) Fund lost about $5.1 billion and as a result, the ratio of insurance reserves to insured deposits fell to 0.7 percent, an all time low; (2) additional BI...
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...
Financial Audit: Federal Savings and Loan Insurance Corporation's 1989 and 1988 Financial Statements
AFMD-90-79: Published: Jul 17, 1990. Publicly Released: Jul 17, 1990.
GAO reviewed the Federal Savings and Loan Insurance Corporation's (FSLIC): (1) 1988 and 1989 final financial statements; and (2) internal accounting controls system and compliance with applicable laws and regulations.GAO found that: (1) in 1989, FSLIC reported a capital deficit of $87 billion, the largest ever reported by a public or private corporation; (2) FSLIC reported a $38-billion present-va...
Failed Thrifts: Resolution Trust Corporation and 1988 Bank Board Resolution Actions
T-GGD-90-29: Published: Apr 2, 1990. Publicly Released: Apr 2, 1990.
GAO discussed the Resolution Trust Corporation's (RTC) resolution of insolvent thrifts. GAO noted that: (1) RTC had either sold or liquidated 52 thrifts and placed 350 thrifts in its conservatorship program as of March 21, 1990; (2) RTC expected to become responsible for resolving 558 to 628 institutions; (3) the pace and structure of RTC resolutions and its marketing and selection process represe...
Troubled Thrifts: Bank Board Use of Enforcement Actions
GGD-89-68BR: Published: Apr 13, 1989. Publicly Released: May 5, 1989.
In response to a congressional request, GAO provided preliminary information from its assessment of the Federal Home Loan Bank Board's (FHLBB) enforcement actions against near-failing thrift institutions.GAO found that: (1) FHLBB took no formal enforcement action against over 50 percent of the 424 thrift institutions upon which it focused increased oversight; (2) FHLBB placed thrift institutions i...
Financial Audit: Federal Deposit Insurance Corporation's 1988 and 1987 Financial Statements
AFMD-89-63: Published: Apr 28, 1989. Publicly Released: Apr 28, 1989.
GAO examined the Federal Deposit Insurance Corporation's (FDIC): (1) financial statements for the years ended December 31, 1988 and 1987; and (2) internal accounting controls and compliance with laws and regulations for the year ended December 31, 1988.GAO found that: (1) the financial statements presented fairly, in all material respects, the FDIC financial position as of December 31, 1988 and 19...
Resolving the Savings and Loan Crisis
T-GGD-89-7: Published: Feb 22, 1989. Publicly Released: Feb 22, 1989.
GAO discussed and made recommendations on how best to resolve the savings and loan crisis. GAO found that: (1) the Federal Home Loan Bank Board's (FHLBB) emphasis on industry promotion and the Federal Savings and Loan Insurance Corporation's (FSLIC) lack of independence weakened the FSLIC risk management and insurance function; (2) in order to resolve the crisis, FSLIC needs at least $85 billion m...