Bank examination (31 - 40 of 69 items)
Bank Examination Quality: OCC Examinations Do Not Fully Assess Bank Safety and Soundness
AFMD-93-14: Published: Feb 16, 1993. Publicly Released: Feb 16, 1993.
GAO reviewed bank examinations performed by the Office of the Comptroller of the Currency (OCC).GAO found that: (1) although the OCC handbook provides guidance for performing internal control assessments, OCC allows examiners discretion in determining the scope of an examination; (2) OCC did not comprehensively review internal controls in recent examinations of an estimated 72 percent of large ban...
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...
Foreign Bank: Initial Assessment of Certain BCCI Activities in the U.S.
GGD-92-96: Published: Sep 30, 1992. Publicly Released: Oct 23, 1992.
Pursuant to a congressional request, GAO: (1) reviewed the operations of a foreign bank's representative office in Washington, D.C.; and (2) assessed the federal banking agencies' efforts to determine if the bank, through its secret ownership of U.S. commercial banks, abused those banks for its own benefit.GAO: (1) found no evidence of direct payments to U.S. government officials and only nominal...
Banks: Call Report Automation
IMTEC-92-60R: Published: May 28, 1992. Publicly Released: May 28, 1992.
Pursuant to a congressional request, GAO examined banks' call-report systems to determine whether they were using automation to make call reports available to bank regulators and the public. GAO found that: (1) by reducing call report processing time with electronic systems, federal regulators could obtain vital financial indicator information quickly, which would help to minimize Bank Insurance F...
Bank Supervision: Observations on the National Bank and Thrift Examiners' Conference
T-GGD-92-10: Published: Jan 3, 1992. Publicly Released: Jan 3, 1992.
GAO discussed the National Bank and Thrift Examiners' conference, focusing on an interagency policy statement regarding commercial real estate loan classification and review. GAO noted that: (1) the policy statement is not consistent with the objectives of recently passed bank reform legislation; (2) the conference urged bank examiners to utilize a broader view of the prospects for commercial real...
Audit Committees: Legislation Needed to Strengthen Bank Oversight
AFMD-92-19: Published: Oct 21, 1991. Publicly Released: Oct 21, 1991.
GAO studied audit committees of the largest U.S. banks, focusing on: (1) the extent to which the committees had the necessary independence, expertise, and information on bank operations to perform their corporate governance functions.GAO surveyed 40 chairpersons and: (1) 25 reported that their committees included members who were large customers of the bank; (2) found that 3 committees were compri...
OCC's Supervision of the Bank of New England
T-GGD-91-66: Published: Sep 19, 1991. Publicly Released: Sep 19, 1991.
GAO discussed its review of a major bank's failure, focusing on the: (1) causes of the failure; (2) Office of the Comptroller of the Currency (OCC) efforts to adequately assess safety and soundness deficiencies at the bank; and (3) extent to which insider activity may have contributed to the failure. GAO noted that: (1) the bank grew rapidly from fiscal year (FY) 1985 to FY 1988, mainly through ac...
Bank Supervision: OCC's Supervision of the Bank of New England Was Not Timely or Forceful
GGD-91-128: Published: Sep 16, 1991. Publicly Released: Sep 16, 1991.
Pursuant to a congressional request, GAO reviewed a major bank's failure, focusing on the: (1) causes of the failure; (2) extent to which insider activity may have contributed to the failures; and (3) Office of the Comptroller of the Currency (OCC) efforts to adequately assess safety and soundness deficiencies at the banks.GAO found that: (1) the bank grew rapidly from fiscal year (FY) 1985 to FY...
Resolving Large Bank Failures
T-GGD-91-27: Published: May 9, 1991. Publicly Released: May 9, 1991.
GAO discussed issues associated with resolving large bank failures. GAO noted that: (1) the problems and incentives associated with resolving large bank failures show the need for comprehensive reform of the deposit insurance and bank supervisory systems; (2) any attempts to increase depositor discipline must be preceded by other reforms to improve the safety and soundness of banking operations; a...
Deposit Insurance and Related Reforms
T-GGD-90-46: Published: Sep 19, 1990. Publicly Released: Sep 19, 1990.
GAO discussed deposit insurance reform. GAO noted that the current deposit insurance system is not the relatively and inexpensive proposition it appeared to be in the past because most of the characteristics which deflected risk away from the banks have been stripped away or significantly diminished due to advances in technology and other factors. GAO also noted that actions that could align the d...