Banking regulation (11 - 20 of 65 items)
Securities and Exchange Commission: Opportunities Exist to Improve Oversight of Self-Regulatory Organizations
GAO-08-33: Published: Nov 15, 2007. Publicly Released: Dec 17, 2007.
Self-regulatory organizations (SRO) are exchanges and associations that operate and govern the markets, and that are subject to oversight by the Securities and Exchange Commission (SEC). Among other things, SROs monitor the markets, investigate and discipline members involved in improper trading, and make referrals to SEC regarding suspicious trades by nonmembers. For industry self-regulation to f...
Credit Derivatives: Confirmation Backlogs Increased Dealers' Operational Risks, but Were Successfully Addressed after Joint Regulatory Action
GAO-07-716: Published: Jun 13, 2007. Publicly Released: Jul 13, 2007.
Over-the-counter (OTC) credit derivatives are privately negotiated contracts that allow a party to transfer the risk of default on a bond or loan to another party without transferring ownership. After trading in these products grew dramatically in recent years, backlogs of thousands of trades developed for which dealers had yet to formally confirm the trade terms with end-users--such as hedge fund...
Bank Tying: Additional Steps Needed to Ensure Effective Enforcement of Tying Prohibitions
GAO-04-4: 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 unaffiliated investment banks 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 availab...
Bank Regulation: Analysis of the Failure of Superior Bank, FSB, Hinsdale, Illinois
GAO-02-419T: Published: Feb 7, 2002. Publicly Released: Feb 7, 2002.
The Federal Deposit Insurance Corporation (FDIC) has projected that the failure of Superior Bank could cost the deposit insurance fund as much as $526 million. A major reason for the failure was Superior Bank's business strategy of originating and securing subprime loans on a large scale. In addition to the concentration in risky assets, the bank did not properly value and account for the interest...
Banking Taxation: Implications of Proposed Revisions Governing S-Corporations on Community Banks
GGD-00-159: Published: Jun 23, 2000. Publicly Released: Jun 23, 2000.
Pursuant to a legislative requirement, GAO: (1) analyzed possible revisions to the tax rules governing S-corporations; and (2) determined the potential impact such revisions might have, primarily on community banks.GAO noted that: (1) GAO studied five possible revisions to the tax rules governing S-corporations; (2) the proposed provisions were written to address perceived obstacles to becoming S-...
Capital Structure of the Federal Home Loan Bank System
GGD-99-177R: Published: Aug 31, 1999. Publicly Released: Sep 30, 1999.
Pursuant to a congressional request, GAO provided information on the capital structure of the Federal Home Loan Bank System.GAO noted that: (1) GAO has consistently supported the establishment of risk-based capital standards applied in combination with a leverage ratio that requires a minimum capital-to-asset ratio for the System; (2) a risk-based capital standard offers a number of benefits that...
OTC Derivatives: Additional Oversight Could Reduce Costly Sales Practice Disputes
GGD-98-5: Published: Oct 2, 1997. Publicly Released: Oct 9, 1997.
Pursuant to a congressional request, GAO reviewed the sales practices for over-the-counter (OTC) derivatives, mortgage-backed securities (MBS), and structured notes, focusing on the: (1) federal sales practice requirements applicable to these products and the dealers marketing them; (2) extent of end-user satisfaction with sales practice, product use, and related disputes and the costs of these di...
Banking and Commerce
OCE-97-3R: Published: Jun 10, 1997. Publicly Released: Jun 10, 1997.
Pursuant to a congressional request, GAO responded to questions concerning the issue of mixing banking and commerce.GAO noted that: (1) it found no mention of any economic efficiencies that are unique to maintaining the separation of banking and commerce; (2) however, GAO found frequent references in the literature to the likelihood that maintaining the existing separation could be beneficial beca...
Financial Regulation: Bank Modernization Legislation
T-OCE/GGD-97-103: Published: May 7, 1997. Publicly Released: May 7, 1997.
GAO discussed the modernization of the U.S. financial services regulatory system.GAO noted that: (1) the laws governing the financial services industry and the regulatory structure that oversees it were developed for an industry compartmentalized into commercial banking, investment banking, and insurance; (2) in recent decades, however, these activities have converged to where many financial produ...
Enterprise Resource Bank Act
GGD-96-140R: Published: Jun 27, 1996. Publicly Released: Jul 12, 1996.
Pursuant to a congressional request, GAO reviewed proposed legislation that would amend the Federal Home Loan Bank Act and expand the Federal Home Loan Bank (FHLB) System's mission. GAO found that: (1) the proposed legislation's potential improvements include changing the current method by which Resolution Funding Corporation obligations are allocated, making the basis for system membership volunt...