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Girding for Competition

Published: Jan 01, 1992. Publicly Released: Jan 01, 1992.
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Highlights

This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses the Federal Deposit Insurance Corporation Improvement Act of 1991 and its effects on the banking industry and U.S. financial system, focusing on the act's provisions for: (1) more promptly closing insolvent banks; (2) accounting and auditing reforms for both banks and their regulators; and (3) forcing banks and their regulators to more effectively deal with market realities, allowing them to prove their viability in the competitive environment before making further modernization and deregulation decisions.

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