Developments Since the Market Crash of October 1987
T-GGD-88-33: Published: Apr 27, 1988. Publicly Released: Apr 27, 1988.
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GAO discussed federal and self-regulatory organizations' efforts to improve stock market operations following the October 1987 market crash. GAO found that the New York Stock Exchange (NYSE): (1) upgraded its order processing systems; (2) installed new equipment to handle odd-lot orders; (3) installed additional automated specialist books to reduce its reliance on card printers; and (4) added more specialist trading posts. GAO also found that NYSE planned to: (1) increase system handling capability to 1 billion shares daily by December 1989; (2) test its automated order processing systems in a 600-million-share day by April 1988; and (3) develop its system's capability to differentiate between basket trading strategies. GAO also found that there were conflicting views: (1) over the use of daily price limits on index products to control price swings; and (2) regarding NYSE restrictions on the use of the Designated Order Turnaround System for index arbitrage when the Dow Jones average moves 50 points in a day. GAO believes that the President's Working Group on Financial Markets has the potential to resolve intermarket regulatory disagreements.
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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