Information on Selected Issues Concerning Banking Activities

This letter responds to Congress's request for information on (1) selected federal expenditures, policies, and programs that affect the U.S. banking industry and (2) certain banking industry trends. These include the savings and loan industry crisis, trade finance, tax policies, and profits and executive compensation. Congress's letter also asked us for information on bank fees; as agreed with Congressional staff, we will discuss this topic in a separate report. On December 11, 2006, we briefed Congressional staff on information gathered during our preliminary work. This letter summarizes and updates the information presented at the briefing.