Federal corporations (1 - 10 of 45 items)
Financial Audit: Federal Deposit Insurance Corporation Funds' 2010 and 2009 Financial Statements
GAO-11-412: Published: Mar 18, 2011. Publicly Released: Mar 18, 2011.
Created in 1933 to insure bank deposits and promote sound banking practices, the Federal Deposit Insurance Corporation (FDIC) plays an important role in maintaining public confidence in the nation's financial system. FDIC administers the Deposit Insurance Fund (DIF), which protects bank and savings deposits, and the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF), whic...
AIMD-95-154R: Published: May 31, 1995. Publicly Released: May 31, 1995.
Pursuant to a congressional request, GAO provided information on the designated reserve ratio established for the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF). GAO noted that: (1) there is a minimum ratio of reserves to insured deposits of 1.25 percent or higher for BIF and SAIF; (2) the Federal Deposit Insurance Corporation may increase the designated ratio for any...
Federal Home Loan Bank System: Reforms Needed to Promote Its Safety, Soundness, and Effectiveness
GGD-94-38: Published: Dec 8, 1993. Publicly Released: Dec 8, 1993.
Pursuant to a congressional request, GAO reviewed various aspects of the Federal Home Loan Bank (FHLBank) System, focusing on: (1) whether the FHLBank System can pay its assessments for affordable housing and help finance the savings and loan cleanup while carrying out its mission; (2) appropriate capital standards for the FHLBank System; (3) whether the terms of FHLBank membership should be chang...
Thrift Failures: Actions Needed to Stabilize RTC's Professional Liability Program
GGD-93-105: Published: Jun 28, 1993. Publicly Released: Jul 19, 1993.
Pursuant to a congressional request, GAO provided information on: (1) various management changes to the Resolution Trust Corporation's (RTC) Professional Liability Section (PLS) program; (2) PLS staffing and the filing and disposition of PLS cases; and (3) actions RTC needs to take to maintain the PLS program as its functions are transferred to the Federal Deposit Insurance Corporation (FDIC).GAO...
Resolution Trust Corporation: Asset Purchase Option for Resolution of City Federal Savings Bank
GGD-93-77: Published: Apr 30, 1993. Publicly Released: Apr 30, 1993.
Pursuant to a congressional request, GAO reviewed the Resolution Trust Corporation's (RTC) asset purchase option agreement to determine whether the selection and sale of assets complied with asset disposition statutory requirements, focusing on: (1) the City Federal Savings Bank resolution transaction and asset purchase option; and (2) RTC obligations and efforts to satisfy the requirements of the...
Resolution Trust Corporation: Recoveries on Asset Sales Through September 1992
GGD-93-51FS: Published: Jan 8, 1993. Publicly Released: Jan 27, 1993.
Pursuant to a congressional request, GAO reviewed the: (1) Resolution Trust Corporation's (RTC) method for estimating asset sales losses; and (2) availability of current sales information.GAO found that: (1) the RTC methodology for estimating asset recoveries was reasonable; (2) the Real Estate Owned Management System (REOMS) had slow response times during data input and retrieval, cumbersome comp...
RTC Western Storm Follow-up
GGD-93-8R: Published: Dec 4, 1992. Publicly Released: Jan 4, 1993.
Pursuant to a congressional request, GAO provided: (1) an assessment of the Resolution Trust Corporation's (RTC) efforts to correct contracting deficiencies in the Western Storm Project; and (2) the results of its inquiry into alleged criminal conduct relating to the award and performance of the Western Storm contract. GAO noted that: (1) poor planning, poor oversight, and the use of an improper c...
Thrift Resolutions: FSLIC 1988 and 1989 Assistance Agreement Costs Subject to Continuing Uncertainties
AFMD-92-78: Published: Aug 3, 1992. Publicly Released: Aug 3, 1992.
GAO provided information on the costs of the Federal Savings and Loan Insurance Corporation's (FSLIC) 1988 and 1989 assistance agreements.GAO found that: (1) FSLIC 1988 and 1989 assistance agreements payments totalled $56.1 billion; (2) 1990 total estimated payments decreased by $9.3 billion, largely resulting from future interest cost savings and a $15.7-billion Resolution Trust Corporation (RTC)...
Obligations Limitation: Resolution Trust Corporation's Compliance as of March 31, 1991
AFMD-92-39: Published: Mar 11, 1992. Publicly Released: Apr 13, 1992.
Pursuant to a congressional request, GAO provided its quarterly review of the Resolution Trust Corporation's (RTC) compliance with the maximum obligation limit set forth by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA).GAO found that: (1) FIRREA established a formula for calculating the maximum allowable obligations outstanding and provided $50 billion in financ...
Resolution Trust Corporation: Review of Information Reporting Requirements for Asset Management Contractors
IMTEC-92-37BR: Published: Mar 5, 1992. Publicly Released: Mar 5, 1992.
Pursuant to a congressional request, GAO assessed the Resolution Trust Corporation's (RTC) reporting requirements for Standard Asset Management and Disposition Agreement (SAMDA) contractors who assist in the management and disposition of assets of failed thrifts.GAO found that RTC: (1) requires SAMDA contractors to provide to RTC oversight managers up to 20 monthly reports and 7 quarterly, annual,...