Financial Audit:

Federal Deposit Insurance Corporation's 1987 and 1986 Financial Statements

AFMD-88-43: Published: Apr 22, 1988. Publicly Released: Apr 22, 1988.

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GAO examined the financial statements of the Federal Deposit Insurance Corporation (FDIC) for the years ended December 31, 1987 and 1986.

GAO found that FDIC: (1) substantially increased its expenditures for assistance and regulatory actions due to an increase in bank failures and problem banks and the less-developed countries' difficulties in repaying loans; and (2) anticipates that it may incur a net loss in 1988. GAO also found that the FDIC financial statements presented fairly its financial position, the results of its operations, and the changes in its financial position, in conformity with generally accepted accounting principles applied on a consistent basis.

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