Bank failures (31 - 40 of 54 items)
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: A Strategy for Reform
GGD-91-26: Published: Mar 4, 1991. Publicly Released: Mar 4, 1991.
Pursuant to a legislative requirement, GAO reviewed issues associated with reforming the federal deposit insurance system, focusing on whether such reforms will result in a more safe, sound, and stable banking industry.GAO presented a comprehensive three-part reform program that could change the way banks are regulated and supervised, as well as the way the deposit insurance system functions, focu...
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...
Resolving Failed Savings and Loan Institutions: Estimated Costs and Additional Funding Needs
T-AFMD-90-32: Published: Sep 19, 1990. Publicly Released: Sep 19, 1990.
GAO discussed: (1) the Resolution Trust Corporation's (RTC) funding needs; and (2) RTC, its Oversight Board's, and the Congressional Budget Office's (CBO) cost estimates for resolving failed and troubled savings institutions. GAO noted that: (1) the Office of Thrift Supervision developed a rating system to measure the relative health of individual institution's financial conditions, compliance wit...
Savings and Loan Crisis: Federal Response to Fraud in Financial Institutions
T-GGD-90-61: Published: Aug 1, 1990. Publicly Released: Aug 1, 1990.
GAO discussed the federal response to fraud in depository institutions. GAO noted that: (1) in the past 4.5 years, 831 banks and 515 thrifts have failed and have been resolved; (2) of the 7,097 financial institution fraud investigations underway, 3,027 were major investigations involving banks', thrifts', and credit unions' potential losses of $100,000 or more; (3) the full cost of insured thrift...
Resolving the Savings and Loan Crisis
T-GGD-89-4: Published: Feb 2, 1989. Publicly Released: Feb 2, 1989.
GAO provided its view on how to resolve the savings and loan crisis. GAO found that, to protect the integrity of the deposit insurance system: (1) the Federal Savings and Loan Insurance Corporation (FSLIC) should be made independent of the Federal Home Loan Bank Board (FHLBB), with a separate board of directors to oversee two separate insurance funds for healthy and insolvent institutions; (2) the...
Failed Thrifts: No Compelling Evidence of a Need for the Federal Asset Disposition Association
GGD-89-26: Published: Dec 12, 1988. Publicly Released: Dec 12, 1988.
In response to a congressional request, GAO assessed the Federal Savings and Loan Insurance Corporation's (FSLIC) continued need for the Federal Asset Disposition Association (FADA) to determine: (1) the legality of the Federal Home Loan Bank Board's (FHLBB) creation of FADA; and (2) whether FSLIC continued to need FADA.GAO found that FHLBB improperly created FADA as a federal savings and loan ass...
Budgetary Implications of the Savings and Loan Crisis
T-AFMD-88-19: Published: Oct 5, 1988. Publicly Released: Oct 5, 1988.
GAO discussed the budgetary impact of the: (1) savings and loan industry crisis; and (2) Federal Savings and Loan Insurance Corporation's (FSLIC) use of notes payable and other commitments to resolve its case load of insolvent thrift institutions. GAO found that, in 1988: (1) thrift industry experienced an overall net loss totalling $7.5 billion; (2) insolvent institutions incurred losses of about...
Failed Banks: FDIC's Asset Liquidation Operations
GGD-88-132: Published: Sep 28, 1988. Publicly Released: Sep 28, 1988.
Pursuant to a congressional request, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) Division of Liquidation's management and liquidation of assets acquired from failed and assisted banks, specifically: (1) how FDIC adjusted its liquidation operations to an environment of increasingly high numbers of bank failures; (2) how FDIC managed liquidations; and (3) how much FDIC expected t...