Preliminary Observations on the Market Crash of October 1987
T-GGD-88-8: Published: Feb 3, 1988. Publicly Released: Feb 3, 1988.
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GAO discussed issues and problems concerning the October 1987 stock market crash. GAO noted that: (1) the Federal Reserve System (FRS) effectively met its responsibilities during the crisis, but could face difficulties with future crises if Congress relaxed Banking Act of 1933 restrictions; (2) the equity and futures markets have developed intermarket and international linkages; (3) the U.S. markets' automated trading systems were severely strained by trading volumes and market pressures; (4) individual investors faced unnecessary difficulties in gaining access to trading systems; and (5) no intermarket interagency contingency plans existed to facilitate regulatory agencies' decisionmaking or communication processes. GAO believes that the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), FRS, and the Department of the Treasury should immediately develop contingency plans and agreements concerning: (1) dissemination of information about CFTC and SEC decisionmaking and communication processes; (2) crisis intervention procedures; and (3) FRS liquidity support mechanisms for market participants.
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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