Considerable Increase in Foreign Banking in the United States Since 1972
GGD-79-75: Published: Aug 1, 1979. Publicly Released: Aug 6, 1979.
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International banking has grown rapidly since the 1950's. Initially, U.S. bankers expanded their operations to foreign countries. In the 1960's and 1970's, foreign bankers began expanding their presence in the United States. Foreign banks have become an important competitive factor in the U.S. banking market and have more than doubled their share of total U.S. banking assets since 1972.
Foreign banks, holding companies, and investors enter the U.S. banking market either by establishing new offices or by acquiring interest in existing U.S. banks or savings and loan associations. The two categories of foreign investors in U.S. banking are (1) foreign banks, and (2) foreign individuals and nonbanking organizations. Foreign banks operate offices which control 91 percent of the foreign-controlled bank assets in the United States. Foreign banks in the United States have become increasingly more competitive with domestic banks. This is most apparent in commercial and industrial loans. Foreign banks engaged in 7 percent of the total domestic commercial and industrial lending in 1972 which increased to 13.5 percent in 1979. Foreign banks appear to be most competitive with the nation's largest banks. The International Banking Act of 1978 directed the Secretary of the Treasury to study the extent to which U.S. banks are denied the same competitive opportunity afforded domestic bank operations in foreign countries. The preliminary data collected indicate that U.S. banks face some restrictions in most foreign countries.
Dec 16, 2020
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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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