Regulatory agencies (61 - 70 of 197 items)
Housing Government-Sponsored Enterprises: A New Oversight Structure Is Needed
GAO-05-576T: Published: Apr 21, 2005. Publicly Released: Apr 21, 2005.
Serious concerns exist regarding the risk management practices and the federal oversight of the housing government-sponsored enterprises (GSE)--Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System (FHLBank System), which had combined obligations of $4.6 trillion as of year-end 2003. In 2003, Freddie Mac disclosed significant accounting irregularities. In 2004, the Office of Federal Housi...
Corporate Credit Unions: Competitive Environment May Stress Financial Condition, Posing Challenges for NCUA Oversight
GAO-04-977: Published: Sep 10, 2004. Publicly Released: Oct 12, 2004.
Thousands of credit unions have placed about $55 billion of their excess funds in corporate credit unions (corporates). In a three-tiered system, corporates provide lending, investment, and processing services for their member credit unions. Problems with investments in the past prompted regulatory changes that required higher capitalization and stricter risk management, but allowed for expanded i...
Follow-Up on GAO Recommendations Concerning the Securities Investor Protection Corporation
GAO-04-848R: Published: Jul 9, 2004. Publicly Released: Aug 9, 2004.
This letter responds to a Congressional request that GAO report on the status of our recommendations relating to the Securities and Exchange Commission's (SEC) oversight of the Securities Investor Protection Corporation (SIPC) and investor education. As requested, this letter also includes information on SIPC's progress in implementing SEC's recommendations from its January 2003 examination of SIP...
Better Information Sharing Among Financial Services Regulators Could Improve Protections for Consumers
GAO-04-882R: Published: Jun 29, 2004. Publicly Released: Jul 29, 2004.
GAO has long held the position that financial regulators can benefit from improved information sharing. As regulators are faced with the challenges of overseeing a myriad of financial products, along with the individuals and organizations that develop and sell them, information sharing among regulators serves as a key defense against fraud and market abuses. However, our system of financial regula...
Credit Unions: Financial Condition Has Improved, but Opportunities Exist to Enhance Oversight and Share Insurance Management
GAO-04-91: Published: Oct 27, 2003. Publicly Released: Nov 4, 2003.
Recent legislative and regulatory changes have blurred some distinctions between credit unions and other depository institutions such as banks. The 1998 Credit Union Membership Access Act (CUMAA) allowed for an expansion of membership and mandated safety and soundness controls similar to those of other depository institutions. In light of these changes and the evolution of the credit union industr...
Bank Tying: Additional Steps Needed to Ensure Effective Enforcement of Tying Prohibitions
GAO-04-3: Published: Oct 10, 2003. Publicly Released: Oct 20, 2003.
Investment affiliates of large commercial banks have made competitive inroads in the annual $1.3 trillion debt-underwriting market. Some corporate borrowers and officials from an unaffiliated investment bank have alleged that commercial banks helped their investment affiliates gain market share by illegally tying and underpricing corporate credit. This report discusses these allegations, the avail...
Securities Exchange Act: Review of Reporting Under Section 10A
GAO-03-982R: Published: Sep 3, 2003. Publicly Released: Oct 6, 2003.
This report responds to Representative John Dingell's request that GAO update our February 4, 2000, report on reporting under Section 10A of the Securities Exchange Act of 1934. Section 10A requires reporting to the Securities and Exchange Commission (SEC) when, during the course of a financial audit, an auditor detects likely illegal acts that have a material impact on the financial statements an...
Financial Regulation: Review of Selected Operations of the Federal Housing Finance Board
GAO-03-364: Published: Feb 28, 2003. Publicly Released: Feb 28, 2003.
The Federal Home Loan Bank System (System) faces additional risks due to the development of new products such as direct mortgage purchase programs. Responding to concern about the methods used for administrative decisionmaking, and the ability of the Federal Housing Finance Board (FHFB) to fulfill its critical mission to regulate the safety and soundness of the System, GAO was asked to (1) compare...
SEC Operations: Implications of Alternative Funding Structures
GAO-02-864: Published: Jul 16, 2002. Publicly Released: Jul 16, 2002.
GAO studied the implications of converting the Securities and Exchange Commission (SEC) to a self-funded entity. Congress has created a range of self-funding structures, or other sources of funding, other than appropriations for the Department of the Treasury's general fund. The variations among these agencies depend on how and when Congress makes the fees available to an agency and how much flexi...
Farm Credit Administration: Analysis of Administrative Expenses and Funding Through Assessments
GAO-01-949: Published: Aug 2, 2001. Publicly Released: Aug 2, 2001.
The Farm Credit Administration (FCA) regulates the farm credit system. Administrative expenses, which accounted for about 97 percent of FCA's total operating expenses of $34.5 million in fiscal year 2000, are funded primarily by assessments on the institutions that make up the system, including the Federal Agricultural Mortgage Corporation (Farmer Mac). This report (1) analyses trends in administr...