Deposit Insurance Funds:
Compliance With Obligation and Repayment Requirements as of 9/30/92 and 12/31/92
AIMD-93-75: Published: Sep 30, 1993. Publicly Released: Sep 30, 1993.
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GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) compliance with obligation and repayment requirements, focusing on: (1) Bank Insurance Fund (BIF) and Savings Association Insurance Fund (SAIF) compliance with the statutory maximum obligation limitation specified in the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA); (2) BIF and SAIF borrowings from the U.S. Treasury for insurance losses; and (3) whether BIF will generate sufficient proceeds from the management and disposition of failed bank assets to repay working capital borrowings.
GAO found that: (1) as of December 31, 1992, BIF assets and other funding sources exceeded its obligations by $40 billion and $37 billion, respectively; (2) as of December 31, 1992, SAIF assets and other funding sources exceeded its obligations by $245 million and $280 million, respectively; (3) neither BIF or SAIF has borrowed funds for insurance losses from the U.S. Treasury; (4) the need for future borrowings for insurance losses, and each fund's ability to repay any such borrowings, depends on the impact of future economic conditions on bank failures, the cost of these failures to the insurance funds, future assessment revenues, and other funding alternatives; (5) FDIC has borrowed approximately $10.2 billion from the Federal Financing Bank (FFB) for BIF working capital needs which is to be repaid primarily with proceeds from the management and disposition of failed bank assets; (6) FDIC has estimated that net future collections from the BIF inventory of failed bank assets will be about $14.4 billion; and (7) on August 6, 1993, FDIC repaid the outstanding FFB balance of BIF working capital borrowings.
Dec 16, 2020
Financial Stability:
Agencies Have Not Found Leveraged Lending to Significantly Threaten Stability but Remain Cautious Amid PandemicGAO-21-167: Published: Dec 16, 2020. Publicly Released: Dec 16, 2020.
Dec 10, 2020
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Federal Reserve Lending Programs:
Use of CARES Act-Supported Programs Has Been Limited and Flow of Credit Has Generally ImprovedGAO-21-180: Published: Dec 10, 2020. Publicly Released: Dec 10, 2020. -
Financial Assistance:
Lessons Learned from CARES Act Loan Program for Aviation and Other Eligible BusinessesGAO-21-198: Published: Dec 10, 2020. Publicly Released: Dec 10, 2020.
Sep 22, 2020
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Anti-Money Laundering:
Opportunities Exist to Increase Law Enforcement Use of Bank Secrecy Act Reports, and Banks' Costs to Comply with the Act VariedGAO-20-574: Published: Sep 22, 2020. Publicly Released: Sep 22, 2020.
Sep 4, 2020
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Bank Supervision:
FDIC Could Better Address Regulatory Capture RisksGAO-20-519: Published: Sep 4, 2020. Publicly Released: Sep 4, 2020.
Jul 21, 2020
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Financial Company Bankruptcies:
Congress and Regulators Have Updated Resolution Planning RequirementsGAO-20-608R: Published: Jul 21, 2020. Publicly Released: Jul 21, 2020.
Jul 6, 2020
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Public Companies:
Disclosure of Environmental, Social, and Governance Factors and Options to Enhance ThemGAO-20-530: Published: Jul 2, 2020. Publicly Released: Jul 6, 2020.
Apr 30, 2020
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Priority Open Recommendations:
Department of the TreasuryGAO-20-549PR: Published: Apr 23, 2020. Publicly Released: Apr 30, 2020.
Apr 27, 2020
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Priority Open Recommendations:
Board of Governors of the Federal Reserve SystemGAO-20-499PR: Published: Apr 20, 2020. Publicly Released: Apr 27, 2020. -
Priority Open Recommendations:
Federal Deposit Insurance CorporationGAO-20-498PR: Published: Apr 20, 2020. Publicly Released: Apr 27, 2020.
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