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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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Topics

Bank examinationBank managementBanking regulationData integrityData transmissionInformation systemsInsured commercial banksQuality assuranceSavings and loan associationsSystems management