Federal corporations (21 - 30 of 45 items)
[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...
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...
Immediate Measures That Can Be Taken to Strengthen the Bank Insurance Fund
T-AFMD-90-33: Published: Sep 26, 1990. Publicly Released: Sep 26, 1990.
GAO discussed a legislative proposal that would allow the Federal Deposit Insurance Corporation (FDIC) flexibility in setting deposit insurance premiums. GAO noted that: (1) the Bank Insurance Fund balance and FDIC projections showed that the current restrictions on setting assessment rates would prevent the achievement of the designated minimum reserve ratio of 1.25 percent by 1995; (2) financial...
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...
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...
Asset Management: Resolution Trust Corporation Needs to Build a Strong Foundation to Support Its Asset Disposition Efforts
T-GGD-90-38: Published: May 4, 1990. Publicly Released: May 4, 1990.
GAO discussed the Resolution Trust Corporation's (RTC) progress in disposing of assets. GAO found that: (1) RTC was not ready to aggressively dispose of its assets, but has reported liquidations of about $40 billion through sales, loan collections, and debt retirements; (2) RTC established a training task force to assess its overall training needs and identified areas in need of strengthening; (3)...
Resolving the Savings and Loan Crisis: Billions More and Additional Reforms Needed
T-AFMD-90-15: Published: Apr 6, 1990. Publicly Released: Apr 6, 1990.
GAO discussed the Federal Savings and Loan Corporation's (FSLIC) financial statements as of August, 1989, focusing on how much money would be needed to resolve the savings and loan crisis. GAO found that: (1) FSLIC needed $325 billion to pay off its obligations, resolve the problems of institutions awaiting resolution, pay interest on $30 billion in bonds, and pay some administrative expenses; (2)...
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...
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...
Resolution Trust Corporation Oversight Board: GAO Views on Strategic Planning Efforts
T-GGD-90-10: Published: Nov 6, 1989. Publicly Released: Nov 6, 1989.
GAO discussed the Resolution Trust Corporation (RTC) Oversight Board's draft strategic plan. GAO noted that the draft: (1) specified general program goals and all of the important policy areas for which RTC had to make decisions; (2) did not specify policies for resolving institutions, managing assets, and meeting other provisions of the law that established RTC; and (3) directed RTC to establish...