Bank failures (41 - 50 of 54 items)
Budget Issues: Information on FDIC and FSLIC Notes Payable
AFMD-88-71FS: Published: Aug 5, 1988. Publicly Released: Aug 5, 1988.
Pursuant to a congressional request, GAO provided information regarding the dollar value of interest-paying notes the Federal Deposit Insurance Corporation (FDIC) and the Federal Savings and Loan Insurance Corporation (FSLIC) issued to assist: (1) failing banks to continue operations; and (2) acquirers to purchase failing banks.GAO found that FDIC: (1) issued $466 million in notes during fiscal ye...
The Federal Savings and Loan Insurance Corporation--Current Financial Condition and Outlook
T-AFMD-88-12: Published: May 19, 1988. Publicly Released: May 19, 1988.
GAO discussed the Federal Savings and Loan Insurance Corporation's (FSLIC) financial condition. GAO noted that, during 1987: (1) one-third of the 3,147 FSLIC-insured savings and loan institutions experienced $13.4 billion in losses due to diversification into riskier activities, the high cost of funds, and insufficient management; (2) 500 insolvent institutions and 435 barely solvent institutions...
Using 'Firewalls' in a Post Glass-Steagall Banking Environment
T-GGD-88-25: Published: Apr 13, 1988. Publicly Released: Apr 13, 1988.
Pursuant to a congressional request, GAO discussed the use of "firewalls," legal and regulatory measures that separate a company's banking and nonbanking activities, in the event of repeal or relaxation of the Banking Act of 1933. GAO noted that firewalls protect bank safety and prevent conflict-of-interest abuses by promoting: (1) legal separation so that banks are not legally liable for their af...
Bank Powers: Issues Related to Repeal of the Glass-Steagall Act
GGD-88-37: Published: Jan 22, 1988. Publicly Released: Feb 12, 1988.
In response to a congressional request, GAO provided information on issues concerning the expansion of banks' securities powers through repeal of the Banking Act of 1933 (Glass-Steagall) and the ramifications of eliminating or extending the moratorium on expansion of bank powers.GAO found that repeal of the act could: (1) benefit consumers in terms of lower prices and better services; and (2) crea...
Bank Powers: Insulating Banks From the Potential Risks of Expanded Activities
GGD-87-35: Published: Apr 14, 1987. Publicly Released: Apr 14, 1987.
GAO reported on a proposed method to permit banks to participate in expanded activities while insulating their insured deposits from risky activities by organizationally separating the new activities from traditional bank operations. Banks generally operate these nontraditional activities under one of their departments, a subsidiary, a holding company subsidiary, or a bank service corporation.GAO...
The Federal Savings and Loan Insurance Corporation--Financial Condition and Recapitalization Issues
T-AFMD-87-4: Published: Mar 3, 1987. Publicly Released: Mar 3, 1987.
GAO discussed: (1) a proposed Federal Savings and Loan Insurance Corporation (FSLIC) recapitalization act; and (2) the financial health of FSLIC and savings and loan institutions (S&L). GAO noted that: (1) from 1981 to 1986, 211 S&L failed, and the number of insolvent S&L increased from 16 to 44; (2) 15 percent of current FSLIC-insured S&L are insolvent and 20 percent are unprofitable; (3) diversi...
Thrift Industry: The Treasury/Federal Home Loan Bank Board Plan for FSLIC Recapitalization
GGD-87-46BR: Published: Mar 3, 1987. Publicly Released: Mar 3, 1987.
Pursuant to a congressional request, GAO discussed the need for a recapitalization of the Federal Savings and Loan Insurance Corporation (FSLIC) and analyzed a recapitalization plan that the Department of the Treasury and the Federal Home Loan Bank Board (FHLBB) proposed.GAO found that FSLIC is in dire need of recapitalization because: (1) its primary reserves have fallen below $2 billion; (2) it...
International Coordination of Bank Supervision: The Record to Date
NSIAD-86-40: Published: Feb 6, 1986. Publicly Released: Feb 6, 1986.
GAO reviewed the activities of the Basle Committee, a group of banking supervisors who deal with international coordination of bank supervision.GAO noted that: (1) the Basle Committee has allocated the responsibility for supervising foreign offices between countries where the offices are located and those in which the banks are headquartered; (2) before a foreign bank conducts business within its...
Examination of the Federal Savings and Loan Insurance Corporation's Financial Statements for the Years Ended December 31, 1984 and 1983
AFMD-85-60: Published: Jul 16, 1985. Publicly Released: Jul 16, 1985.
GAO examined the statements of the financial position of the Federal Savings and Loan Insurance Corporation (FSLIC) as of December 31, 1984 and 1983, and the related statements of income and expense and reserves, and changes in financial position for the years then ended in accordance with generally accepted government auditing standards.As of December 31, 1984, FSLIC held $1.8 billion in claims a...
Changes in the Financial Services Industry and Their Impact on Federal Regulation
121656: Jun 16, 1983
GAO discussed how the financial services industry is changing and what the government's role with respect to those changes should be. The changes occurring are the latest events in the historical development of the financial services industry. Congress designed the legislation of the 1930's for a financial system which, in one important respect, differs from today's system. The basic deposit insur...