Resolution Trust Corporation: Evolving Oversight on Interim Servicing Arrangements

Pursuant to a congressional request, GAO reviewed the Resolution Trust Corporation's (RTC) efforts to manage assets during the interim period between the sale of a thrift institution and the award of a contract for asset management services for those assets remaining with RTC, focusing on: (1) whether the agreements covering the interim period included appropriate provisions to protect the government's interests; (2) whether RTC had sufficient bill verification procedures; and (3) the extent to which RTC monitored contractor performance under the interim agreements.