Anticipated Benefits of Moving Federal Home Loan Bank of Little Rock, AR, to Dallas, TX, Are Outweighed by Other Considerations
GGD-81-82: Published: Jun 18, 1981. Publicly Released: Jun 25, 1981.
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GAO was asked to review the proposed relocation of the Federal Home Loan Bank of Little Rock, Arkansas, to the Dallas, Texas, metropolitan area. Specifically, GAO was asked to determine: (1) the performance of the Little Rock Bank as compared to the ll other Federal Home Loan Banks; (2) how many of the bank's employees would move and how any loss of employees would impact on the bank's performance; and (3) any other aspects of the move that would be of significance.
The GAO analysis showed that: (1) the Little Rock Bank is a sound, stable institution and compares favorably to similar size banks; (2) most of the key employees would consider relocating to Dallas; (3) the move would be costly; and (4) the savings and loan associations do not clearly favor or oppose the move. In the opinion of GAO, the cost of the proposed move and the indecisiveness of the savings and loan associations outweigh the sole principal advantage of improved accessibility.
Recommendation for Executive Action
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Comments: Please call 202/512-6100 for additional information.
Recommendation: The Federal Home Loan Bank Board should reject the proposal to move the Federal Home Loan Bank of Little Rock to Dallas, Texas.
Agency Affected: Federal Home Loan Bank Board
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