Real property (1 - 10 of 47 items)
Bank Supervision: Closure of the Rushville National Bank
GGD-98-80: Published: Jun 15, 1998. Publicly Released: Jun 15, 1998.
Pursuant to a congressional request, GAO reviewed the events leading up to the 1992 closure of the Rushville National Bank by the Office of the Comptroller of the Currency (OCC), focusing on whether OCC followed its policies and procedures in its: (1) net worth calculation and loan classifications, which led to Rushville's being declared insolvent; (2) decision to close the bank before implementat...
Special Resource Properties
GGD-94-161R: Published: Jul 1, 1994. Publicly Released: Jul 1, 1994.
GAO reviewed the Resolution Trust Corporation's (RTC) compliance with federal legislation mandating that it publish a list of RTC real property assets with natural, cultural, recreational, or scientific significance. GAO noted that: (1) RTC has generally complied with the legislative mandate in all but 10 of the 106 cases reviewed; (2) RTC has policies and procedures that assist contractors in ide...
Bank and Thrift Regulation: Observations on Proposed Changes to Appraisal Requirement
T-GGD-94-102: Published: Mar 1, 1994. Publicly Released: Mar 1, 1994.
GAO discussed the threshold for exempting federally insured financial institutions' real estate transactions from appraisal requirements, focusing on the proposed change in the threshold and its effect on real estate valuation, deposit insurance funds, and consumers. GAO noted that: (1) current law requires appraisals for all financial institutions' real estate transactions and that states impleme...
Bank and Thrift Regulation: FDICIA Safety and Soundness Reforms Need to Be Maintained
T-AIMD-93-5: Published: Sep 23, 1993. Publicly Released: Sep 23, 1993.
GAO discussed H.R. 962, the Economic Growth and Financial Institutions Regulatory Paperwork Act of 1993, focusing on the effect this bill would have on credit availability and the safety and soundness of the industry. GAO noted that: (1) H.R. 962 proposes eliminating or altering several of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) safety and soundness reforms conce...
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...
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...
Resolution Trust Corporation: Recoveries on Asset Sales Through September 1992
GGD-93-51FS: Published: Jan 8, 1993. Publicly Released: Jan 27, 1993.
Pursuant to a congressional request, GAO reviewed the: (1) Resolution Trust Corporation's (RTC) method for estimating asset sales losses; and (2) availability of current sales information.GAO found that: (1) the RTC methodology for estimating asset recoveries was reasonable; (2) the Real Estate Owned Management System (REOMS) had slow response times during data input and retrieval, cumbersome comp...
High Risk Series: Resolution Trust Corporation
HR-93-4: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
GAO reviewed the Resolution Trust Corporation's (RTC) cleanup of the thrift industry, focusing on: (1) RTC management of its asset disposition and contracting activities; (2) RTC information systems; and (3) reduction of thrift cleanup costs.GAO found that RTC: (1) has recovered about 95 percent of the book value of the financial assets it has sold, but faces losses from contingent liability on al...
Appraisal Reform: Implementation Status and Unresolved Issues
GGD-93-19: Published: Oct 30, 1992. Publicly Released: Nov 30, 1992.
Pursuant to a congressional request, GAO reviewed the implementation of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.GAO found that: (1) positive strides have been made at the federal and state levels to implement Title XI by the December 31, 1992, deadline; (2) all 50 states, the District of Columbia, and most U.S. territories have developed and implemented...