Financial institutions (61 - 70 of 74 items)
[Comments on FIRREA and CFO Act Audit Requirements for FDIC]
B-239201.3: Published: Jul 25, 1991. Publicly Released: Jul 25, 1991.
GAO commented on whether required audits of Federal Deposit Insurance Corporation (FDIC) financial statements, subject to audit provisions of the Federal Institutions Reform, Recovery, and Enforcement Act of 1989 and the Chief Financial Officers Act of 1990, were consistent. GAO noted that: (1) even though the audits GAO plans to conduct on three FDIC administered funds would satisfy the audit pro...
Obligations Limitation: Resolution Trust Corporation's Compliance as of September 30, 1990
AFMD-91-63: Published: May 31, 1991. Publicly Released: Jul 1, 1991.
Pursuant to a congressional request, GAO assessed the Resolution Trust Corporation's (RTC) third-quarter compliance with the maximum RTC obligation limit set forth by the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989, which provided a formula calculating maximum allowable obligations.GAO found that: (1) none of the formula categories required by FIRREA were omitted...
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...
Obligations Limitation: Resolution Trust Corporation's Compliance as of June 30, 1990
AFMD-91-41: Published: Dec 21, 1990. Publicly Released: Jan 23, 1991.
Pursuant to a congressional request, GAO assessed the Resolution Trust Corporation's (RTC) compliance with the maximum RTC obligation limit that the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) set forth.GAO found that: (1) RTC did not omit any of the FIRREA-required formulas from its calculations; (2) RTC was working to correct several minor errors and miscalculat...
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...
Investment Advisers: Current Level of Oversight Puts Investors at Risk
GGD-90-83: Published: Jun 26, 1990. Publicly Released: Jul 12, 1990.
Pursuant to a congressional request, GAO reviewed the Securities and Exchange Commission's (SEC) regulation of investment advisers.GAO found that: (1) since 1980, the number of financial advisers has tripled from about 4,600 to about 14,000, and the assets they manage have increased from about $440 billion to about $4.6 trillion; (2) investment advisers provide investors little assurance that 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...
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...
Information on the Extent of Fully Insured Brokered Deposits in FDIC-Insured Institutions
GGD-86-15FS: Published: Oct 29, 1985. Publicly Released: Dec 2, 1985.
Pursuant to a congressional request, GAO reviewed certain brokered deposit data for institutions insured by the Federal Deposit Insurance Corporation (FDIC).GAO found that: (1) FDIC officials were not responsive to direct subcommittee requests for brokered deposit data; (2) 147 institutions met the subcommittee's brokered deposit selection criteria as of March 31, 1985; (3) the broad variances in...