Financial institutions (81 - 90 of 106 items)
Failed Financial Institutions: Reasons, Costs, Remedies, and Unresolved Issues
T-AFMD-89-1: Published: Jan 13, 1989. Publicly Released: Jan 13, 1989.
GAO discussed: (1) characteristics and management practices of failed financial institutions; (2) the Federal Home Loan Bank Board's (FHLBB) recent resolution actions; and (3) actions to prevent the crisis from recurring. GAO found that: (1) in 1987, 203 commercial banks closed at an estimated net cost of $3 billion and, in 1988, the number increased to 221; (2) in 1988, the Federal Savings and Lo...
Transition Series: Financial Services Industry Issues
OCG-89-4TR: Published: Nov 1, 1988. Publicly Released: Nov 1, 1988.
GAO summarized information on issues the federal government should consider relating to the financial services industry, including the: (1) handling of troubled financial institutions; (2) regulation of mergers between banking and nonbanking institutions; (3) regulation of linked securities and futures markets; and (4) regulation of global capital markets.GAO noted that: (1) almost a third of the...
Preliminary Observations on the Market Crash of October 1987
T-GGD-88-10: Published: Feb 5, 1988. Publicly Released: Feb 5, 1988.
GAO discussed issues and problems concerning the October 1987 stock market crash. GAO noted that: (1) the Federal Reserve System (FRS) effectively met its responsibilities during the crisis, but could face difficulties with future crises if Congress relaxed Banking Act of 1933 restrictions; (2) the equity and futures markets have developed intermarket and international linkages; (3) the U.S. marke...
After Black Monday: An Interview With Robert R. Glauber
136523: Jan 1, 1988
This article, which appeared in the GAO Journal, No. 2, Summer 1988, presents a round-table discussion of the findings and recommendations of the Presidential Task Force on Market Mechanisms, established in the wake of the unprecedented drop in the stock market on October 19, 1987. The discussion focused on: (1) the involvement of the Federal Reserve System, Department of the Treasury, and Securit...
The Treasury Securities Market and Primary Dealer System
131128: Sep 29, 1986
GAO testified on its study of the government securities market's strengths and weaknesses, specifically: (1) the relevance of the standards used to designate primary dealers; and (2) the uses which certain market participants make of the primary dealer designation. GAO found that: (1) the Federal Reserve System should review the standard requiring participation in auctions to determine whether the...
Bank Secrecy Act: Financial Institution Regulators' Compliance Examinations
GGD-86-94: Published: Aug 1, 1986. Publicly Released: Sep 3, 1986.
In response to a congressional request, GAO evaluated regulatory agencies' efforts to ensure that financial institutions comply with the Bank Secrecy Act.GAO found that regulatory agencies placed a low priority on the act's requirement for examinations of financial institutions, which diminished their ability to ensure compliance with the act. GAO believes that these agencies could improve their a...
International Banking: U.S. Banking Supervision and International Supervisory Principles
NSIAD-86-93: Published: Jul 25, 1986. Publicly Released: Jul 25, 1986.
GAO identified the extent to which the U.S. bank regulatory agencies' regulations, policies, and procedures are consistent with the Basle Committee's principles. The Committee, which consists of the United States and 11 other countries, agrees on principles designed to ensure adequate supervision of international banking.GAO found that the banking supervision principles that federal bank regulator...
Department of Treasury's Implementation of the Bank Secrecy Act
130197: Jun 12, 1986
GAO testified on the Department of the Treasury's implementation of the Bank Secrecy Act of 1970, specifically: (1) the way in which law enforcement agencies administer the act; and (2) financial data the act generates. GAO found that: (1) Treasury increased its reviews of noncompliance and imposed more civil penalties to improve compliance with the act; (2) Treasury needs more information on how...
Bank Secrecy Act: Treasury Can Improve Implementation of the Act
GGD-86-95: Published: Jun 11, 1986. Publicly Released: Jun 11, 1986.
In response to a congressional request, GAO: (1) reviewed the Department of the Treasury's management of the Bank Secrecy Act of 1970; (2) studied how law enforcement personnel use the act; and (3) examined the collection, analysis, and dissemination of data compiled as a result of the act.GAO noted that the law requires individuals and institutions to file reports on: (1) currency transactions ex...
Bank Regulation: Information on Independent Public Accountant Audits of Financial Institutions
GGD-86-44FS: Published: Apr 21, 1986. Publicly Released: Apr 21, 1986.
In response to a congressional request, GAO reported on its study of six failed and open financial institutions that had undergone independent audits to determine if a workable methodology could be devised for analyzing the audit work done at a statistically valid sample of financial institutions.In order for financial information about a bank or any other economic entity to be useful, the informa...