Enterprise Resource Bank Act
GGD-96-140R: Published: Jun 27, 1996. Publicly Released: Jul 12, 1996.
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Pursuant to a congressional request, GAO reviewed proposed legislation that would amend the Federal Home Loan Bank Act and expand the Federal Home Loan Bank (FHLB) System's mission. GAO found that: (1) the proposed legislation's potential improvements include changing the current method by which Resolution Funding Corporation obligations are allocated, making the basis for system membership voluntary, strengthening the Federal Housing Finance Board's (FHFB) role as a regulator by enhancing its enforcement authority, and eliminating the FHFB role in FHLB governance; (2) taxpayers could face increased risks because the legislation would to expand the system's mission, membership, and the types of collateral eligible for advances; (3) because the system's new mission would not be well-defined under the proposed legislation, enterprise resource banks (ERB) may not significantly increase the amount of credit available to community developers; (4) other persistent problems with the legislation include the lack of ERB expertise, regulators' roles in the pricing of FHLB products and services, increased competition between ERB subsidiaries and their members, the risks that FHLB advances would pose to Federal Deposit Insurance Corporation insurance funds, and the limited role that the Treasury would have in managing the ensuing debt; and (5) options so that the system could meet its new mission include creating a special-purpose finance corporation, designating advances to institutions for community development lending, and eliminating federal system sponsorship.
Dec 16, 2020
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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