Information on the Extent of Fully Insured Brokered Deposits in FDIC-Insured Institutions
GGD-86-15FS: Published: Oct 29, 1985. Publicly Released: Dec 2, 1985.
- Full Report:
Pursuant to a congressional request, GAO reviewed certain brokered deposit data for institutions insured by the Federal Deposit Insurance Corporation (FDIC).
GAO found that: (1) FDIC officials were not responsive to direct subcommittee requests for brokered deposit data; (2) 147 institutions met the subcommittee's brokered deposit selection criteria as of March 31, 1985; (3) the broad variances in the amounts of fully insured brokered deposits reported monthly versus the total brokered retail deposits reported on Call reports may be due to differences in the reporting requirements; and (4) regulatory agency officials believed that any studies addressing the question of whether a CAMEL rating of 3 is a significant predictor of future problem institutions would presumably have to be based only on failed institutions since the information needed to perform such a study on open banks is proprietary.