Department of the Treasury, Office of the Comptroller of the Currency; Federal Reserve System; Federal Deposit Insurance Corporation; Department of the Treasury, Office of Thrift Supervision: Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory Capital; Impact of Modifications to Generally Accepted Accounting Principles; Consolidation of Asset-Backed Commercial Paper Programs; and Other Related Issues
GAO-10-416R: Feb 17, 2010
- Full Report:
GAO reviewed the Department of the Treasury, Office of the Comptroller of the Currency's; Federal Reserve System's; Federal Deposit Insurance Corporation's; Department of the Treasury, Office of Thrift Supervision's new rule on risk-based capital guidelines; capital adequacy guidelines; capital maintenance: regulatory capital; impact of modifications to generally accepted accounting principles; consolidation of asset-backed commercial paper programs; and other related issues. GAO found that (1) the final rule eliminates the exclusion of certain consolidated asset-backed commercial paper (ABCP) programs from risk-weighted assets and provides for an optional two-quarter implementation delay followed by an optional two-quarter partial implementation of the effect on risk-weighted assets that will result from changes to U.S. generally accepted accounting principles (GAAP); and (2) the agencies complied with the applicable requirements in promulgating the rule.