Government Agency Transactions with the Federal Financing Bank Should Be Included on the Budget
PAD-77-70: Published: Aug 3, 1977. Publicly Released: Aug 3, 1977.
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Excluding the Federal Financing Bank from federal budget totals and other questionable budget practices combine to produce an inadequate and incomplete picture of federal credit assistance.
In its 4 years of operation, the Federal Financing Bank has helped agencies to borrow money at a cost savings. Although it was originally thought that the Bank would finance its activity by issuing its own securities in the private money and capital markets, nearly all of the Bank's borrowing has been from the Department of the Treasury. This borrowing arrangement saves money for agency borrowers and at present has small effect upon debt management and monetary policy. Problems created by the off-budget status of the Bank combine with other deviations of current budget practices to provide an understatement of federal outlays. Purchase of government-guaranteed borrowings is one of the most troublesome aspects of the Bank's off-budget status.
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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