Financial management (41 - 50 of 52 items)
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...
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...
Budget Issues: Information on FDIC and FSLIC Notes Payable
AFMD-88-71FS: Published: Aug 5, 1988. Publicly Released: Aug 5, 1988.
Pursuant to a congressional request, GAO provided information regarding the dollar value of interest-paying notes the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings and Loan Insurance Corporation (FSLIC) issued to assist: (1) failing banks to continue operations; and (2) acquirers to purchase failing banks.GAO found that FDIC: (1) issued $466 million in notes during fiscal ye...
Using 'Firewalls' in a Post Glass-Steagall Banking Environment
T-GGD-88-25: Published: Apr 13, 1988. Publicly Released: Apr 13, 1988.
Pursuant to a congressional request, GAO discussed the use of "firewalls," legal and regulatory measures that separate a company's banking and nonbanking activities, in the event of repeal or relaxation of the Banking Act of 1933. GAO noted that firewalls protect bank safety and prevent conflict-of-interest abuses by promoting: (1) legal separation so that banks are not legally liable for their af...
Bank Powers: Issues Related to Repeal of the Glass-Steagall Act
GGD-88-37: Published: Jan 22, 1988. Publicly Released: Feb 12, 1988.
In response to a congressional request, GAO provided information on issues concerning the expansion of banks' securities powers through repeal of the Banking Act of 1933 (Glass-Steagall) and the ramifications of eliminating or extending the moratorium on expansion of bank powers.GAO found that repeal of the act could: (1) benefit consumers in terms of lower prices and better services; and (2) crea...
Thrift Industry: Net Worth and Income Capital Certificates
GGD-86-100FS: Published: Jun 23, 1986. Publicly Released: Jun 23, 1986.
In response to a congressional request, GAO provided information on the Net Worth Certificate Program, specifically: (1) its participants; and (2) the Federal Savings and Loan Insurance Corporation's use of income capital certificates to support the net-worth levels of thrift institutions.GAO found that: (1) Congress is currently considering reauthorizing the program; and (2) two institutions shou...
Thrift Assistance: Industry Restructuring and the Net Worth Certificate Program-Update
GGD-86-71FS: Published: Apr 11, 1986. Publicly Released: Apr 11, 1986.
Pursuant to a congressional request, GAO updated, through the third quarter of 1985, the tables and figures from a September 1985 report it determined to be the most useful in evaluating the Net Worth Certificate Program for thrift institutions.GAO compared all Federal Savings and Loan Insurance Corporation (FSLIC)-insured institutions with: (1) a set of 67 institutions that first participated in...
Improvements Needed in Controlling and Accounting for Treasury Banking Arrangements
AFMD-85-22: Published: Apr 3, 1985. Publicly Released: Apr 3, 1985.
GAO reported on controlling and accounting for the Department of the Treasury's banking arrangements with commercial banks for handling federal agencies' deposits.GAO found that Treasury's costs to have commercial banks process the deposits increase by about $14 million annually because delays deprive Treasury of the use of the funds and increase the government's interest costs, to the extent that...
Changes in the Financial Services Industry and Their Impact on Federal Regulation
121656: Jun 16, 1983
GAO discussed how the financial services industry is changing and what the government's role with respect to those changes should be. The changes occurring are the latest events in the historical development of the financial services industry. Congress designed the legislation of the 1930's for a financial system which, in one important respect, differs from today's system. The basic deposit insur...
Banks Having Problems Need Better Identification and Disclosure
FOD-79-1: Published: Jan 24, 1979. Publicly Released: Jan 24, 1979.
The Federal Deposit Insurance Corporation (FDIC) supervises state-chartered insured banks which are not members of the Federal Reserve System and indirectly supervises state member and national banks. FDIC exists to protect both private and public depositors against losses from bank failures, help maintain confidence in the banking system, and promote safe and sound banking practices. The review o...