Financial institutions (51 - 60 of 75 items)
Bank Powers: Bank Holding Company Securities Subsidiaries' Market Activities Update
GGD-91-131: Published: Sep 20, 1991. Publicly Released: Sep 20, 1991.
Pursuant to a congressional request, GAO investigated bank holding company subsidiaries' bank-ineligible securities underwriting activities, focusing on: (1) the number of firms involved in such activities and the volume of their activities and their assets, revenues, and capital; and (2) regulatory revisions proposed by the Federal Reserve.GAO found: (1) the Federal Reserve authorized 35 banking...
Resolution Trust Corporation: Funding, Asset Disposition, and Structure Issues
T-GGD-91-67: Published: Sep 17, 1991. Publicly Released: Sep 17, 1991.
GAO discussed: (1) the Resolution Trust Corporation's (RTC) current and future funding needs; (2) its progress in disposing of assets; and (3) issues related to restructuring RTC. GAO noted that: (1) on September 12, 1991, RTC and its Oversight Board requested an additional $80 billion in loss funds, a $160-billion increase in the RTC working capital borrowing authority, to complete the cleanup of...
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...
[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...
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...
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...
Obligations Limitation: Resolution Trust Corporation's Compliance as of June 30, 1990
AFMD-91-41: Published: Dec 21, 1990. Publicly Released: Jan 23, 1991.
Pursuant to a congressional request, GAO assessed the Resolution Trust Corporation's (RTC) compliance with the maximum RTC obligation limit that the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) set forth.GAO found that: (1) RTC did not omit any of the FIRREA-required formulas from its calculations; (2) RTC was working to correct several minor errors and miscalculat...
[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...
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...