Bank examination (1 - 10 of 66 items)
Bank Regulation: Analysis of the Failure of Superior Bank, FSB, Hinsdale, Illinois
GAO-02-419T: Published: Feb 7, 2002. Publicly Released: Feb 7, 2002.
The Federal Deposit Insurance Corporation (FDIC) has projected that the failure of Superior Bank could cost the deposit insurance fund as much as $526 million. A major reason for the failure was Superior Bank's business strategy of originating and securing subprime loans on a large scale. In addition to the concentration in risky assets, the bank did not properly value and account for the interest...
Bank Supervision: Closure of the Rushville National Bank
GGD-98-80: Published: Jun 15, 1998. Publicly Released: Jun 15, 1998.
Pursuant to a congressional request, GAO reviewed the events leading up to the 1992 closure of the Rushville National Bank by the Office of the Comptroller of the Currency (OCC), focusing on whether OCC followed its policies and procedures in its: (1) net worth calculation and loan classifications, which led to Rushville's being declared insolvent; (2) decision to close the bank before implementat...
Post-Hearing Questions on the Federal Deposit Insurance Corporation's Year 2000 (Y2K) Preparedness
AIMD-98-108R: Published: Mar 18, 1998. Publicly Released: Mar 18, 1998.
Pursuant to a congressional request, GAO provided additional information on the efforts of the Federal Deposit Insurance Company (FDIC) to ensure that the bank systems it oversees and its own internal systems are ready for the year 2000, focusing on: (1) a comparison of the relative progress of the National Credit Union Administration (NCUA) and FDIC in both internal and external systems year 2000...
Allegations of Improper Management Practices at NCUA
GGD/OSI-97-44R: Published: Apr 8, 1997. Publicly Released: Apr 8, 1997.
Pursuant to a congressional request, GAO reviewed allegations of improper management practices at the National Credit Union Administration (NCUA), focusing on the: (1) internal operations of the NCUA Board and the role of the Chairman; (2) role of NCUA staff in establishing official NCUA policy; and (3) legality and propriety of NCUA actions in sponsoring and promoting a 1996 conference, "Serving...
Bank Regulatory Structure: Japan
GGD-97-5: Published: Dec 27, 1996. Publicly Released: Dec 27, 1996.
Pursuant to a congressional request, GAO reviewed the Japanese bank regulatory structure and its key participants, focusing on how: (1) the Japanese bank regulation and supervision is organized; (2) Japan's banking oversight structure functions, particularly with respect to bank licensing, regulation, and supervision; (3) Japanese banks are monitored by their supervisors; and (4) participants hand...
Bank and Thrift Regulation: Implementation of FDICIA's Prompt Regulatory Action Provisions
GGD-97-18: Published: Nov 21, 1996. Publicly Released: Nov 21, 1996.
GAO reviewed the Federal Reserve System's (FRS) and the Office of the Comptroller of the Currency's (OCC) efforts to implement the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) prompt regulatory action provisions and the impact of those provisions on federal oversight of depository institutions.GAO found that: (1) regulators have taken the required steps to implement FDICI...
Bank Oversight Structure: U.S. and Foreign Experience May Offer Lessons for Modernizing U.S. Structure
GGD-97-23: Published: Nov 20, 1996. Publicly Released: Nov 20, 1996.
Pursuant to a congressional request, GAO reviewed its previous work on the structure and operations of bank oversight in five countries, focusing on: (1) aspects of those systems that may be useful for Congress to consider in any future modernization efforts; (2) perceived problems with federal bank oversight in the United States; and (3) principles for modernizing the U.S. federal bank oversight...
Inspectors General: Mandated Studies to Review Costly Bank and Thrift Failures
GGD-97-4: Published: Nov 7, 1996. Publicly Released: Nov 7, 1996.
Pursuant to a legislative requirement, GAO reviewed the compliance of the Inspectors General (IG) offices of the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation (FDIC), and the Department of the Treasury with section 38(k) of the Federal Deposit Insurance Act of 1991, focusing on: (1) the findings of the material loss review (MLR) reports initiated between J...
Bank Oversight: Fundamental Principles for Modernizing the U.S. Structure
T-GGD-96-117: Published: May 2, 1996. Publicly Released: May 2, 1996.
GAO discussed efforts to modernize the U.S. federal bank oversight structure, focusing on: (1) how the U.S. oversight structure compares with five other industrialized countries; and (2) whether these countries' structures can be used to assist U.S. reform. GAO noted that: (1) U.S. structural reform should include a more consolidated and comprehensive oversight of companies owning federally insure...
Bank Regulatory Structure: Canada
GGD-95-223: Published: Sep 28, 1995. Publicly Released: Oct 3, 1995.
Pursuant to a congressional request, GAO reviewed the Canadian bank regulatory structure and its key participants.GAO found that: (1) the Office of the Superintendent of Financial Institutions (OSFI) is the primary supervisor of Canadian financial institutions and is responsible for incorporating financial institutions, issuing regulations and guidelines, taking enforcement actions, and resolving...