Banking regulation (1 - 10 of 89 items)
Federal Reserve: Additional Actions Could Help Ensure the Achievement of Stress Test Goals
GAO-17-48: Published: Nov 15, 2016. Publicly Released: Nov 15, 2016.
The Board of Governors of the Federal Reserve System (Federal Reserve) has two related supervisory programs that involve stress testing but serve different purposes. Stress tests are hypothetical exercises that assess the potential impact of economic, financial, or other scenarios on the financial performance of a company. Stress tests of banking institutions typically evaluate if the institutions...
Troubled Asset Relief Program: Status of GAO Recommendations
GAO-15-813: Published: Sep 4, 2015. Publicly Released: Sep 4, 2015.
As of August 2015, GAO's performance audits of the Troubled Asset Relief Program (TARP) activities have resulted in 72 recommendations to the Department of the Treasury (Treasury). Treasury has implemented 59 of the 72 recommendations (about 82 percent), some of which were aimed at improving transparency and internal controls of TARP. The status of the remaining recommendations is as follows:Treas...
Financial Stability Oversight Council: Status of Efforts to Improve Transparency, Accountability, and Collaboration
GAO-14-873T: Published: Sep 17, 2014. Publicly Released: Sep 17, 2014.
The Financial Stability Oversight Council's (FSOC) has taken steps to address some of GAO's September 2012 recommendations, but additional efforts are needed. GAO made nine recommendations to FSOC in three areas: emerging threats and risks identification, transparency and accountability, and collaboration and coordination. GAO recommended, among other things, that FSOC:develop a systematic approac...
Foreclosure Review: Regulators Could Strengthen Oversight and Improve Transparency of the Process
GAO-14-376: Published: Apr 29, 2014. Publicly Released: Apr 29, 2014.
To negotiate the $3.9 billion cash payment amount in servicers' amended consent orders, the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) considered information from the incomplete foreclosure review, including factors such as projected costs for completing the file reviews and remediation amounts that would have been pai...
Troubled Asset Relief Program: Treasury's Use of Auctions to Exit the Capital Purchase Program
GAO-13-630: Published: Jul 8, 2013. Publicly Released: Jul 8, 2013.
The U.S. Department of the Treasury (Treasury) has increasingly used auctions to sell its Capital Purchase Program (CPP) investments. Initially, Treasury relied primarily on financial institutions redeeming their shares to wind down the program. However, in March 2012 Treasury began using auctions to exit CPP, and more institutions have exited the program through auctions than through any other me...
Financial Stability: New Council and Research Office Should Strengthen the Accountability and Transparency of Their Decisions
GAO-12-886: Published: Sep 11, 2012. Publicly Released: Sep 13, 2012.
These new organizations--the Financial Stability Oversight Council (FSOC) and Office of Financial Research (OFR)--face challenges in achieving their missions. Key FSOC missions--to identify risks and respond to emerging threats to financial stability--are inherently challenging, in part, because risks to financial stability do not develop in precisely the same way in successive crises. Collaborati...
Banking Regulation: Enhanced Guidance on Commercial Real Estate Risks Needed
GAO-11-489: Published: May 19, 2011. Publicly Released: May 19, 2011.
Since the onset of the financial crisis in 2008, commercial real estate (CRE) loan delinquencies have more than doubled. The federal banking regulators have issued statements and guidance encouraging banks to continue lending to creditworthy borrowers and explaining how banks can work with troubled borrowers. However, some banks have stated that examiners' treatment of CRE loans has hampered their...
Troubled Asset Relief Program: Capital Purchase Program Transactions for the Period October 28, 2008 through March 20, 2009 and Information on Financial Agency Agreements, Contracts, and Blanket Purchase Agreements Awarded as of March 13, 2009 (GAO-09-522SP, March 2009), an E-supplement to GAO-09-504
GAO-09-522SP: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
This is an E-Supplement to GAO-09-504. It presents a listing of capital purchases made in qualifying financial institutions (QFIs) by the Department of the Treasury's (Treasury) Office of Financial Stability under the Capital Purchase Program (CPP). CPP is one of the programs Treasury created under its Troubled Asset Relief Program (TARP) authorities. CPP provides QFIs with additional capital thro...
Troubled Asset Relief Program: March 2009 Status of Efforts to Address Transparency and Accountability Issues
GAO-09-504: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
GAO's third report on the Troubled Asset Relief Program (TARP) follows up on recommendations from the January 28, 2009, report (GAO-09-296). It also reviews (1) the nature and purpose of activities that had been initiated under TARP as of March 27, 2009; (2) the Department of Treasury's Office of Financial Stability's (OFS) hiring efforts, use of contractors, and progress in developing an internal...
Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues
GAO-09-539T: Published: Mar 31, 2009. Publicly Released: Mar 31, 2009.
This testimony discusses our work on the Troubled Asset Relief Program (TARP), under which the Department of the Treasury (Treasury) has the authority to purchase and insure up to $700 billion in troubled assets held by financial institutions through its Office of Financial Stability (OFS). As Congress may know, Treasury was granted this authority in response to the financial crisis that has threa...