Ensuring a safe and sound banking system
The current financial crisis has made the task of ensuring a safe and sound banking system more important and more difficult. Recent events including the collapse of the investment bank model have resulted in banking regulators having to regulate and supervise larger, more complex institutions. Moreover, the ongoing financial crisis has also led to an increase in the number of bank failures raising questions about the stability of the deposit insurance fund.
While the actions of the federal financial regulatory agencies in response to today's financial crisis necessarily have proceeded with urgency, there are a number of ongoing issues that will have to be addressed to ensure the continued safety and soundness of the banking system. GAO has a number of planned and ongoing engagements that should provide useful insights and perspectives about these issues going forward, including ongoing and planned work on Treasury's decision to authorize FDIC to guarantee transaction accounts and certain types of preferred debt, regulation of complex financial instruments, and examining the effectiveness of risk management systems. Moreover, as the financial auditor of FDIC, GAO will render an opinion on the financial statements of the Corporation and deposit insurance fund. Ensuring a safe and sound banking system should include
GAO plans to issue work in the coming months that should provide additional information and insights about the banking system and its regulators including work on FDIC's new guarantee activities and the results of the FDIC financial audit among others.
- Deposit Insurance: Assessment of Regulators' Use of Prompt Corrective Action Provisions and FDIC's New Deposit Insurance System
- GAO-07-242, February 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 68 pages) Accessible Text
- Federal Deposit Insurance Corporation: Human Capital and Risk Assessment Programs Appear Sound, but Evaluations of Their Effectiveness Should Be Improved
- GAO-07-255, February 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 71 pages) Accessible Text Recommendations (HTML)
- Risk-Based Capital: Bank Regulators Need to Improve Transparency and Overcome Impediments to Finalizing the Proposed Basel II Framework
- GAO-07-253, February 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 109 pages) Accessible Text Recommendations (HTML)
- Risk-Focused Bank Examinations: Regulators of Large Banking Organizations Face Challenges
- GGD-00-48, January 24, 2000
- Summary (HTML) Full Report (PDF, 64 pages)
More Reports
- Hedge Funds: Overview of Regulatory Oversight, Counterparty Risks, and Investment Challenges
- GAO-09-677T, May 7, 2009
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 18 pages) Accessible Text
- Financial Regulation: Review of Regulators' Oversight of Risk Management Systems at a Limited Number of Large, Complex Financial Institutions
- GAO-09-499T, March 19, 2009
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 34 pages) Accessible Text
- Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues
- GAO-09-484T, March 19, 2009
- Summary (HTML) Full Report (PDF, 22 pages) Accessible Text
- Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues
- GAO-09-474T, March 11, 2009
- Summary (HTML) Full Report (PDF, 16 pages) Accessible Text
- Systemic Risk: Regulatory Oversight and Recent Initiatives to Address Risk Posed by Credit Default Swaps
- GAO-09-397T, March 5, 2009
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 32 pages) Accessible Text
- Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues
- GAO-09-417T, February 24, 2009
- Summary (HTML) Full Report (PDF, 15 pages) Accessible Text
- Financial Regulation: A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System
- GAO-09-349T, February 4, 2009
- Summary (HTML) Full Report (PDF, 30 pages) Accessible Text
- Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues
- GAO-09-296, January 30, 2009
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 112 pages) Accessible Text Recommendations (HTML)
- Financial Regulation: A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System
- GAO-09-314T, January 21, 2009
- Summary (HTML) Full Report (PDF, 30 pages) Accessible Text
- Financial Regulation: A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System
- GAO-09-310T, January 14, 2009
- Summary (HTML) Full Report (PDF, 30 pages) Accessible Text
- Financial Regulation: A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System
- GAO-09-216, January 8, 2009
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 107 pages) Accessible Text
- Risk-Based Capital: New Basel II Rules Reduced Certain Competitive Concerns, but Bank Regulators Should Address Remaining Uncertainties
- GAO-08-953, September 12, 2008
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 74 pages) Accessible Text Recommendations (HTML)
- Private Equity: Recent Growth in Leveraged Buyouts Exposed Risks That Warrant Continued Attention
- GAO-08-885, September 9, 2008
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 133 pages) Accessible Text Recommendations (HTML)
- Fair Lending: Race and Gender Data Are Limited for Nonmortgage Lending
- GAO-08-1023T, July 17, 2008
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 21 pages) Accessible Text
- Fair Lending: Race and Gender Data Are Limited for Nonmortgage Lending
- GAO-08-698, June 27, 2008
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 42 pages) Accessible Text
- Securities and Exchange Commission: Opportunities Exist to Improve Oversight of Self-Regulatory Organizations
- GAO-08-33, November 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 73 pages) Accessible Text Recommendations (HTML)
- Credit Derivatives: Confirmation Backlogs Increased Dealers' Operational Risks, but Were Successfully Addressed after Joint Regulatory Action
- GAO-07-716, June 13, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 48 pages) Accessible Text
- Financial Market Preparedness: Significant Progress Has Been Made, but Pandemic Planning and Other Challenges Remain
- GAO-07-399, March 29, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 54 pages) Accessible Text Recommendations (HTML)
- Financial Market Regulation: Agencies Engaged in Consolidated Supervision Can Strengthen Performance Measurement and Collaboration
- GAO-07-154, March 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 86 pages) Accessible Text Recommendations (HTML)
- Federal Deposit Insurance Corporation: Human Capital and Risk Assessment Programs Appear Sound, but Evaluations of Their Effectiveness Should Be Improved
- GAO-07-255, February 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 71 pages) Accessible Text Recommendations (HTML)
- Deposit Insurance: Assessment of Regulators' Use of Prompt Corrective Action Provisions and FDIC's New Deposit Insurance System
- GAO-07-242, February 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 68 pages) Accessible Text
- Risk-Based Capital: Bank Regulators Need to Improve Transparency and Overcome Impediments to Finalizing the Proposed Basel II Framework
- GAO-07-253, February 15, 2007
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 109 pages) Accessible Text Recommendations (HTML)
- Bank Secrecy Act: FinCEN and IRS Need to Improve and Better Coordinate Compliance and Data Management Efforts
- GAO-07-212, December 15, 2006
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 59 pages) Accessible Text Recommendations (HTML)
- Bank Secrecy Act: Opportunities Exist for FinCEN and the Banking Regulators to Further Strengthen the Framework for Consistent BSA Oversight
- GAO-06-386, April 28, 2006
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 135 pages) Accessible Text Recommendations (HTML)
- Loan Commitments: Issues Related to Pricing, Trading, and Accounting
- GAO-05-131, February 14, 2005
- Summary (HTML) Highlights Page (PDF) Full Report (PDF, 52 pages) Accessible Text