Observations on the Financial Institutions Reform, Recovery and Enforcement Act of 1989

T-AFMD-89-10: Published: Jun 1, 1989. Publicly Released: Jun 1, 1989.

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Pursuant to a congressional request, GAO discussed proposed legislation to help resolve the thrift crisis. GAO believes that the legislation: (1) urgently requires enactment, since delays will result in continued losses in investor confidence, diminishment of thrifts' franchise value, and thrift operating losses which will increase resolution costs; (2) should make its proposed Resolution Trust Corporation an on-budget entity, even if an on-budget approach increases difficulties in meeting deficit reduction targets; (3) does not significantly under- or over-estimate thrift resolution costs, projected at about $285 billion; and (4) needs to clearly establish and define the Resolution Trust Corporation's authority, responsibility, and accountability, appropriate GAO and congressional oversight, and guidance on how it should conduct activities.

Sep 23, 2020

Jan 23, 2020

Dec 19, 2019

  • budget icon, source: GAO

    State and Local Governments' Fiscal Outlook:

    2019 Update
    GAO-20-269SP: Published: Dec 19, 2019. Publicly Released: Dec 19, 2019.

Nov 14, 2019

Oct 16, 2019

Jun 26, 2019

Apr 10, 2019

Mar 27, 2019

Mar 22, 2019

Feb 27, 2019

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