Information About Depository Institutions' Ancillary Activities Is Not Adequate for Policy Purposes
GGD-82-57
Published: Jun 01, 1982. Publicly Released: Jun 01, 1982.
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Highlights
GAO reviewed the adequacy of information on the ancillary activities of the Nation's banks, savings and loan associations and their related holding companies, and on commercial firms' growing involvement in traditional banking activities. U.S. banking policy and regulations have long maintained a separation of banking and commerce. However, in recent years a number of changes have blurred the distinctions between banking and commerce and have fostered an industry structure quite different from that which existed previously.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Federal Financial Institutions Examination Council | The Federal Financial Institutions Examination Council should identify the needs for information about ancillary activities and design, test, and implement a collection instrument that would efficiently capture only the minimal amount of information that is necessary and useful, thus minimizing respondents' paperwork burdens. |
Closed – Not Implemented
The Council has substantially completed the revision of the instrument and anticipates considering further data collection improvements in the bank holding company area. As a reult, no further action is planned. The Federal Reserve is in the process of revising their bank holding company data collection instrument. GAO does not anticipate any need for further followup of this recommendation.
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Topics
Bank holding companiesBanking regulationLending institutionsNational banksPolicy evaluationSavings and loan associationsTrade policiesPrivate sectorHolding companiesSavings and loan association