Financial management (41 - 50 of 71 items)
National Consumer Cooperative Bank: Oversight Adequate But Federal Loan Repayment Needs Monitoring
GGD-95-63: Published: Feb 24, 1995. Publicly Released: Feb 24, 1995.
Pursuant to a congressional request, GAO reviewed the safety and soundness of the National Consumer Cooperative Bank (NCB), focusing on whether NCB is: (1) fiscally sound; and (2) able to repay its debt to the Department of the Treasury.GAO found that: (1) NCB is a private, cooperatively-owned financial institution with limited ties to the government; (2) although NCB is overseen by the Farm Credi...
Failed Bank: FDIC Documentation of CrossLand Savings, FSB, Decision Was Inadequate
GGD-92-92: Published: Jul 7, 1992. Publicly Released: Jul 7, 1992.
Pursuant to a legislative requirement, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) resolution actions regarding a failed bank, focusing on whether the FDIC decision to delay the resolution met the requirements of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA).GAO found that: (1) FDIC violated FDICIA requirements by failing to document its resolution...
Equal Credit Opportunity Act: OCC Should Further Review First Chicago's Screening Test for Credit Card Holders
GGD-92-4: Published: Dec 12, 1991. Publicly Released: Dec 23, 1991.
Pursuant to a congressional request, GAO evaluated a bank's test of credit card accounts in the Northeast to determine whether it could reduce losses by reviewing credit card accounts earlier than its normal 2-year cycle, focusing on whether the test was discriminatory.GAO found that: (1) the Office of the Comptroller of the Currency (OCC) concluded that the bank's credit screening process was not...
Credit Unions: Reforms for Ensuring Future Soundness
GGD-91-85: Published: Jul 10, 1991. Publicly Released: Jul 10, 1991.
Pursuant to a legislative requirement, GAO examined: (1) the financial condition of credit unions; (2) the regulation and supervision of credit unions; (3) the structure of the credit union industry; (4) the evolving role of credit unions in the financial marketplace; and (5) a certified public accountant's audits of the National Credit Union Administration's (NCUA) Operating and Share Insurance F...
Budget Issues: Profiles of Government-Sponsored Enterprises
AFMD-91-17: Published: Feb 1, 1991. Publicly Released: Feb 1, 1991.
GAO studied the activities, characteristics, and financial growth of government-sponsored enterprises (GSE), focusing on the: (1) government's potential risk exposure from GSE activities; and (2) current federal budgetary treatment of GSE activities.GAO found that, from fiscal years (FY) 1980 to 1989, total GSE: (1) net borrowing and sales of mortgage-backed securities grew from $29.2 billion to $...
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...
European Community: U.S. Financial Services' Competitiveness Under the Single Market Program
NSIAD-90-99: Published: May 21, 1990. Publicly Released: May 24, 1990.
Pursuant to a congressional requirement, GAO assessed: (1) how the European Community's (EC) Single Market Program could affect U.S. financial firms; (2) the extent to which U.S. financial firms participated in EC markets; (3) potential opportunities and challenges for U.S. financial firms; and (4) how U.S. government agencies were working to ensure full and fair access to European markets.GAO fou...
Reserve Accounting: Rural Telephone Bank's Reserve for Losses Due to Interest Rate Fluctuations
AFMD-89-15: Published: Mar 27, 1989. Publicly Released: Mar 27, 1989.
Pursuant to a legislative requirement, GAO studied the Rural Telephone Bank's (RTB) reserve for losses due to interest-rate fluctuations.GAO found that: (1) RTB retained annual profits as patronage capital after distribution of cash dividends to government and private stockholders, was required to place at least 10 percent of its patronage capital in a contingency reserve, and distributed the resi...
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...