Financial institutions (31 - 40 of 97 items)
Long-Term Capital Management: Regulators Need to Focus Greater Attention on Systemic Risk
GGD-00-3: Published: Oct 29, 1999. Publicly Released: Nov 19, 1999.
Pursuant to a congressional request, GAO provided information on Long Term Capital Management (LTCM) funds, focusing on: (1) how LTCM's positions became large and leveraged enough to be deemed a potential systemic threat; (2) what federal regulators knew about LTCM and when they found out about its problems; (3) what the extent of coordination among regulators was; and (4) whether regulatory autho...
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...
Year 2000 Computing Crisis: Federal Reserve Has Established Effective Year 2000 Management Controls for Internal Systems Conversion
AIMD-99-78: Published: Apr 9, 1999. Publicly Released: Apr 9, 1999.
Pursuant to a congressional request, GAO reviewed the Federal Reserve System's (FRS) efforts to remedy the year 2000 problem for its internal computer systems.GAO noted that: (1) FRS' year 2000 progress reports and plans show that its Year 2000 program is on schedule with Office of Management and Budget milestones; (2) further, GAO found that FRS has effective controls to help ensure that its year...
High-Loan-to-Value Lending: Information on Loans Exceeding Home Value
GGD-98-169: Published: Aug 13, 1998. Publicly Released: Sep 14, 1998.
Pursuant to a congressional request, GAO provided information on high-loan-to-value (HLTV) loans, focusing on the: (1) characteristics of HLTV loans; (2) major organizations that provided HLTV lending; (3) volume of HLTV lending in 1995, 1996, and 1997, and the expected volume in 1998; and (4) benefits and risks of HLTV lending for borrowers, lenders, investors, and regulated depository institutio...
Securities Market Operations: The Effects of SOES on the Nasdaq Market
GGD-98-194: Published: Aug 31, 1998. Publicly Released: Aug 31, 1998.
Pursuant to a congressional request, GAO provided information on the Small Order Execution System (SOES) and its effects on the Nasdaq Stock Market, focusing on the: (1) extent to which SOES is being used for its intended purpose; (2) effects of SOES on the marketplace; (3) results of attempts to limit trading on SOES or replace SOES; and (4) effects of recent market developments and proposals aff...
SEC: Interpretation of Section 206(3) of the Investment Advisors Act of 1940
OGC-98-65: Published: Aug 5, 1998. Publicly Released: Aug 5, 1998.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on the interpretation of Section 206(3) of the Investment Advisors Act of 1940. GAO noted that: (1) the rule was issued by SEC as an interpretive release; (2) Section 206(3) generally prohibits an advisor from engaging in or effecting principal or agency transactions with an advisory client...
Government-Sponsored Enterprises: Federal Oversight Needed for Nonmortgage Investments
GGD-98-48: Published: Mar 11, 1998. Publicly Released: Mar 25, 1998.
Pursuant to a congressional request, GAO reviewed the nonmortgage investment activities at 3 government-sponsored enterprises (GSEs)--the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae), and the Federal Agricultural Mortgage Corporation (Farmer Mac)--focusing on the: (1) enterprises' legal authority for making nonmortgage investments and...
SEC: Technical Revisions to the Rules and Forms Regulating Money Market Funds
OGC-98-20: Published: Dec 18, 1997. Publicly Released: Dec 18, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on revisions to the rules and forms regulating money market funds. GAO noted that: (1) the rule would revise terminology used in rule 2a-7 under the Investment Company Act of 1940 to reflect common market usage and resolve certain interpretative issues; and (2) SEC complied with applicable r...
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...
Securities and Exchange Commission: Rules Implementing Amendments to the Investment Advisers Act of 1940 (Rule 203A-2)
OGC-97-46: Published: Jun 2, 1997. Publicly Released: Jun 2, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on the implementation of amendments to the Investment Advisers Act of 1940 (Rule 203A-2). GAO noted that: (1) the final rule would exempt four types of advisers from the prohibition on SEC registration, which include: (a) certain pension consultants; (b) nationally recognized statistical rat...