Resolution Trust Corporation:
Update on Funding and Performance
T-GGD-91-47: Published: Jun 17, 1991. Publicly Released: Jun 17, 1991.
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GAO discussed the: (1) Resolution Trust Corporation's (RTC) estimates for future funding; (2) status of RTC operations and initiatives; and (3) reconstruction of RTC. GAO noted that: (1) the $80 billion Congress provided will not be sufficient to resolve all expected thrift failures; (2) since RTC sales of troubled assets were slower than hoped and future proceeds will be lower than anticipated, resolution costs are likely to exceed RTC and Oversight Board estimates; (3) RTC would need at least an additional $50 billion in 1992, which could increase significantly if RTC accelerates its resolution schedule; (4) it is likely that some RTC working capital will not be repaid from asset sales, due to RTC policy that allows it to aggressively discount distressed properties; (5) such practices mean that RTC could receive much less for an asset than it borrowed to purchase it at resolution; (6) RTC had difficulty in reconciling its accounts and was late in supplying its financial statements; (7) any plans to recapitalize the Bank Insurance Fund or provide additional resolution funding to RTC without reforms to correct accounting and internal control problems will only perpetuate the insurance problems; (8) if the proposed expanded bank powers are enacted without accounting and internal control reforms, Fund losses are likely to worsen; and (9) RTC has taken a number of actions to improve management and strengthen internal controls.
Jan 28, 2021
Macroprudential Oversight:
Principles for Evaluating Policies to Assess and Mitigate Risks to Financial System StabilityGAO-21-230SP: Published: Jan 28, 2021. Publicly Released: Jan 28, 2021.
Dec 16, 2020
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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.
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