Internal controls (11 - 20 of 51 items)
Bank Regulation: Regulatory Impediments to Small Business Lending Should Be Removed
GGD-93-121: Published: Sep 7, 1993. Publicly Released: Sep 7, 1993.
GAO provided information on small business bank credit and the impact that regulations have on its availability, focusing on whether regulations on small business lending can be safely reduced.GAO found that: (1) bankers have become more conservative in small business lending because of economic considerations; (2) regulatory burdens related to real estate collateral and appraisal requirements hav...
Resolution Trust Corporation: Summary of GAO Products
GGD-93-128: Published: Jul 20, 1993. Publicly Released: Aug 27, 1993.
Pursuant to a congressional request, GAO: (1) provided summaries of its products on the Resolution Trust Corporation (RTC) and related issues; (2) updated RTC actions to implement recommendations; and (3) discussed the applicability of federal regulations limiting the contracting out of inherently governmental functions.GAO found that: (1) since RTC started its operations in August 1989, 98 produc...
Financial Audit: Resolution Trust Corporation's 1992 and 1991 Financial Statements
AIMD-93-6: Published: Jun 30, 1993. Publicly Released: Jun 30, 1993.
GAO reviewed the Resolution Trust Corporation's (RTC): (1) financial statements for the years ended December 31, 1992 and 1991; and (2) internal accounting controls and compliance with applicable laws and regulations.GAO found that: (1) the financial statements presented fairly, in all material respects, the RTC financial position for the years ending December 31, 1992, and 1991, in conformity wit...
Resolution Trust Corporation: Controls Over Asset Valuations Do Not Ensure Reasonable Estimates
GGD-93-80: Published: Apr 8, 1993. Publicly Released: Apr 22, 1993.
Pursuant to a congressional request, GAO provided information on the Resolution Trust Corporation's (RTC) asset valuation review (AVR) process used in resolving failed thrifts, focusing on: (1) whether the process produced reasonable loss estimates; (2) the preparation of AVR reports; and (3) the RTC Asset Review Evaluation System (ARES).GAO found that: (1) RTC could not ensure that its cost tests...
Resolution Trust Corporation: Funding, Organization, and Performance
T-GGD-93-13: Published: Mar 18, 1993. Publicly Released: Mar 18, 1993.
Pursuant to a congressional request, GAO discussed the Resolution Trust Corporation (RTC) and its thrift resolution efforts, focusing on: (1) funding requirements for RTC and the Savings Association Insurance Fund (SAIF); (2) the need to move resolution responsibilities from RTC to the Federal Deposit Insurance Corporation (FDIC); and (3) RTC operational performance. GAO noted that: (1) although R...
Bank and Thrift Regulation: Concerns About Credit Availability and Regulatory Burden
T-GGD-93-10: Published: Mar 17, 1993. Publicly Released: Mar 17, 1993.
GAO discussed the availability of bank credit to small and medium-sized businesses and the amount of regulatory burden placed on banking institutions. GAO noted that: (1) the Federal Deposit Insurance Corporation Improvement Act reforms are essential for protecting banks and taxpayers from rising deposit insurance costs; (2) problems with lending restrictions, particularly relating to commercial a...
Bank and Thrift Regulation: Improvements Needed in Examination Quality and Regulatory Structure
T-AFMD-93-2: Published: Feb 16, 1993. Publicly Released: Feb 16, 1993.
GAO reviewed bank and thrift examinations and bank holding company inspections performed by the Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). GAO noted that: (1) 94 percent of the bank and thrift examinations performed did not include an adequate assessment of internal controls...
Banks and Thrifts: Safety and Soundness Reforms Need to Be Maintained
T-GGD-93-3: Published: Jan 27, 1993. Publicly Released: Jan 27, 1993.
GAO discussed the condition of the banking and thrift industries, focusing on: (1) the safety and soundness provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA); (2) the condition of the banking and thrift industries' insurance funds; (3) the volume of bank lending; and (4) congressional oversight. GAO noted that: (1) FDICIA requires that banks operate in a safe...
RTC Western Storm Follow-up
GGD-93-8R: Published: Dec 4, 1992. Publicly Released: Jan 4, 1993.
Pursuant to a congressional request, GAO provided: (1) an assessment of the Resolution Trust Corporation's (RTC) efforts to correct contracting deficiencies in the Western Storm Project; and (2) the results of its inquiry into alleged criminal conduct relating to the award and performance of the Western Storm contract. GAO noted that: (1) poor planning, poor oversight, and the use of an improper c...
High Risk Series: Bank Insurance Fund
HR-93-3: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
GAO reviewed the Bank Insurance Fund, focusing on the factors that contributed to the depletion of the Fund's reserves and the need for improved accounting rules and bank examinations.GAO noted that: (1) during the 1980s, U.S. banks made riskier loans to increase their customer base and fight competition from other domestic and foreign financial service vendors; (2) weak internal controls, flawed...