RTC:
Asset Management Systems
IMTEC-93-9R: Published: Oct 28, 1992. Publicly Released: Oct 28, 1992.
Additional Materials:
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GAO provided information on the Resolution Trust Corporation's (RTC) management and use of three critical automated asset systems since the recent restructuring of its field operations. GAO noted that: (1) RTC has modified its Real Estate Owned Management System (REOMS) so that it now better meets the information and reporting needs of its corporate and field offices in the management and sale of real estate assets; (2) RTC terminated corporate-wide development of its Loans and Other Assets Inventory System because of a greater emphasis on its loan securitization program; (3) RTC has begun to modify the Asset Manager System (AMS) to more efficiently account for the income and expenses of asset manager contractors, calculate their management and disposition fees, and control the electronic funds transfers between RTC and its asset managers; (4) as of January, 1992, REOMS data included property records that were incomplete and inconsistent; (5) RTC does not have a corporate-wide program to improve the data integrity of the ad hoc field office loan systems and contractor loan servicing systems it relies on to manage and sell its loan assets; and (6) until modifications are complete, AMS will likely continue to experience inadequate system interfaces between RTC and the asset managers to account for the contractors' income and expenses, insufficient security controls and reconciliation reports to ensure proper electronic funds transfers, and difficulty in calculating management and disposition fees for certain types of asset manager contracts.
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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