Bank and Savings and Loan Insurance Funds:
Financial Condition and Proposed Reforms
T-AFMD-89-3: Published: Mar 10, 1989. Publicly Released: Mar 10, 1989.
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GAO discussed the financial condition of the banking industry and the savings and loan (S&L) industry, and recommendations for solving the S&L crisis. GAO found that: (1) despite the adverse events of the last decade, the banking industry and its insurer, the Federal Deposit Insurance Corporation (FDIC), remain fairly healthy; (2) U.S. banks in general have curtailed or eliminated new loans to less-developed countries and increased their capital and loan loss allowances; and (3) as of September 30, 1988, less than 2 percent of all FDIC-insured banks, with about 1 percent of industry assets, were insolvent. However, GAO also found that: (1) the S&L industry and its insurer, the Federal Savings and Loan Insurance Corporation (FSLIC), were adversely affected by their expanded lending and investment powers as they diversified their portfolios away from traditional residential mortgage loans into more profitable but riskier activities, such as acquisition, development, and construction; and (2) the FSLIC deficit has at least quadrupled from its 1987 deficit of $14 billion. GAO believes that: (1) future industry earnings should first be used to capitalize the new insurance fund; (2) supervisors and examiners should be placed under the control of the insurer; (3) an on-budget approach should be used to raise a portion of the funds needed to resolve the crisis; and (4) non-governmental sources can be expected to provide funds to defease principal on bonds and pay interest costs.
Sep 22, 2020
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.
Apr 21, 2020
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Priority Open Recommendations:
Securities and Exchange CommissionGAO-20-502PR: Published: Apr 14, 2020. Publicly Released: Apr 21, 2020.
Apr 20, 2020
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Terrorism Risk Insurance:
Market Is Stable but Treasury Could Strengthen Communications about Its ProcessesGAO-20-364: Published: Apr 20, 2020. Publicly Released: Apr 20, 2020. -
Terrorism Risk Insurance:
Program Changes Have Reduced Federal Fiscal ExposureGAO-20-348: Published: Apr 20, 2020. Publicly Released: Apr 20, 2020.
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