Office of Thrift Supervision: Stronger System Controls Needed to Prevent Call Report Delays
IMTEC-92-22
Published: Feb 14, 1992. Publicly Released: Feb 14, 1992.
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Highlights
Pursuant to a congressional request, GAO reviewed the Office of Thrift Supervision's (OTS) delay in issuing quarterly data on thrifts' operating conditions, focusing on the: (1) cause and extent of the delay; and (2) adequacy of OTS steps to correct the problem.
Recommendations
Recommendations for Executive Action
Agency Affected | Recommendation | Status |
---|---|---|
Office of Thrift Supervision | To ensure the timely release of thrift call reports, the Director, OTS, should strengthen system controls. Such action should include: (1) finalizing policies and procedures on system maintenance; and (2) establishing a quality assurance function independent of operations. |
Closed – Implemented
OTS: (1) finalized its system maintenance policies and procedures; and (2) hired two data-base administrators to improve the backup and restoration procedures for quarterly thrift call reports. However, the OTS Director has decided against committing the resources to establish a quality assurance function, citing other priorities such as hiring additional thrift examiners.
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Bank examinationBank managementBanking regulationData integrityData transmissionInformation systemsInsured commercial banksQuality assuranceSavings and loan associationsSystems management