Financial institutions (81 - 90 of 118 items)
FHLBank System: Reforms Needed to Promote Its Safety, Soundness, and Effectiveness
T-GGD-95-244: Published: Sep 27, 1995. Publicly Released: Sep 27, 1995.
Pursuant to a congressional request, GAO discussed the reforms needed to promote safety, soundness, and effectiveness within the Federal Home Loan Bank (FHLBank) System. GAO noted that: (1) the biggest obstacles to effective FHLBank reform are the Resolution Funding Corporation (REFCorp) and the Affordable Housing Program (AHP) annual System obligations; (2) activities undertaken to increase Syste...
Banks' Securities Activities: Oversight Differs Depending on Activity and Regulator
GGD-95-214: Published: Sep 21, 1995. Publicly Released: Sep 26, 1995.
Pursuant to a congressional request, GAO reviewed federal bank regulators' oversight of banks' securities activities, focusing on the: (1) extent to which banks provide securities brokerage services; (2) how those services are regulated; (3) results of Federal Reserve inspections of bank holding company subsidiaries authorized to underwrite and deal in securities; and (4) Federal Deposit Insurance...
Bank Regulatory Structure: The United Kingdom
GGD-95-38: Published: Dec 29, 1994. Publicly Released: Jan 31, 1995.
Pursuant to a congressional request, GAO reviewed the structure and operations of the Bank of England, the United Kingdom's banking regulatory agency.GAO found that: (1) the Bank is recognized as the primary regulator and sole supervisor of authorized banks in the United Kingdom; (2) the Bank's primary purpose is to protect the interests of depositors; (3) the Bank has the authority to examine and...
Resolution Trust Corporation: Better Analyses Needed Before Terminating Asset Management Contracts
GGD-94-147: Published: Jul 8, 1994. Publicly Released: Jul 8, 1994.
GAO reviewed the Resolution Trust Corporation's (RTC) Accelerated Expiration Program procedures, focusing on whether the procedures ensured that Standard Asset Management and Disposition Agreement (SAMDA) contractors satisfactorily met their contractual obligations before their contracts expired.GAO found that: (1) RTC Accelerated Expiration Program procedures did not ensure that RTC made cost-eff...
Bank and Thrift Regulation: Better Guidance Is Needed for Real Estate Evaluations
GGD-94-144: Published: May 24, 1994. Publicly Released: May 24, 1994.
Pursuant to a legislative requirement, GAO reviewed the de minimis appraisal threshold set by federal financial regulators and the regulatory guidance provided to financial institutions on real estate evaluation practices and examination procedures.GAO found that: (1) financial regulators do not provide adequate guidance to financial institutions for establishing minimum evaluation standards or sp...
Financial Audit: Federal Deposit Insurance Corporation's Internal Controls as of December 31, 1992
AIMD-94-35: Published: Feb 4, 1994. Publicly Released: Feb 4, 1994.
Pursuant to a legislative requirement, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) system of internal accounting controls as of December 31, 1992, as part of its 1992 financial statement audits of the Bank Insurance Fund (BIF), the Savings Association Insurance Fund (SAIF), and the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF), to determine whethe...
Executive Bonuses: Information on FDIC's and RTC's Executive Bonus Programs
GGD-94-15: Published: Oct 1, 1993. Publicly Released: Oct 25, 1993.
Pursuant to a congressional request, GAO reviewed bonuses paid to Federal Deposit Insurance Corporation (FDIC) and Resolution Trust Corporation (RTC) executive-level employees, focusing on whether FDIC and RTC: (1) were justified in awarding bonuses to attract and retain talented public-sector employees; and (2) had adequate internal controls to ensure that the bonuses attracted and retained talen...
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...
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: 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...