FDIC: Asset Disposition Strategies
Highlights
GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) asset disposition strategies, focusing on whether FDIC information systems provide essential data for asset disposition analyses. GAO noted that: (1) FDIC has not analyzed sold assets to determine which disposition strategies produce the greatest net return; (2) FDIC corporate information systems do not track the asset-level expense data needed for asset disposition strategy analyses; (3) current FDIC systems are not designed to provide descriptive and financial information about bank assets; (4) FDIC cannot directly access contractors' information systems and contractors are not required to send FDIC detailed data about the income and expenses of the individual assets they manage; (5) although FDIC recognizes its systems deficiencies and has initiated a project to address some system problems, it has not decided whether it will require post analyses of asset dispositions; and (6) FDIC need for better asset disposition analyses will increase when it takes over the responsibilities of the Resolution Trust Corporation after December 1995.