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.

Additional Materials:


Office of Public Affairs
(202) 512-4800

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.

Nov 7, 2018

Jun 28, 2018

Jun 21, 2018

Apr 3, 2018

Feb 6, 2018

Oct 12, 2017

Oct 2, 2017

  • budget icon, source: GAO

    U.S. Territories:

    Public Debt Outlook
    GAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

Sep 20, 2017

May 3, 2017

Jan 18, 2017

Looking for more? Browse all our products here