Bank and Thrift Regulation: Implementation of FDICA's Prompt Regulatory Action Provisions
This report summarizes the results of a review of the implementation of the Fed. Deposit Insur. Corp. Improve. Act of 1991's (FDICIA) Prompt Regulatory Action provisions. Focuses on the Fed. Reserve System's and the Office of the Comptroller of the Currency's efforts to implement the provisions and the impact of the provisions on Fed. oversight of depository institutions. Also discusses other initiatives, contained in FDICIA or self-initiated by the regulators, that are intended to improve the supervision and early identification of institutions with safety problems.
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accounting reform Actions Under Sections addition adequately capitalized allows regulators amended assess asset quality bank insurance fund bank's banks and thrifts capital levels capital ratios capital restoration plan compliance plan Comptroller corrective action criteria crps December Deposit Insurance Corporation deposit insurance funds depository institutions deterioration Effectiveness of Sections failed fdic fdicia requires fdicia's Prompt Regulatory Federal Deposit Insurance Federal Reserve Federal Reserve System Financial Institutions implementation of section initiatives institution's capital interest rate risk market risk Mechanics National Bank occ and frs occ's Office of Thrift percent Prompt Regulatory Action regulators to take Regulatory Action provisions requires regulators result revise the risk-based risk-based capital standards safety and soundness safety-and-soundness problems section 38 capital Section 38 requires significantly undercapitalized specific Subject to Enforcement submit supervisory actions tangible equity thrift industry Thrift Supervision Tier 2 capital total assets traditional enforcement troubled institutions unsafe and unsound unsound conditions well-capitalized
Page 24 - Section 13(d), by filing specified forms with and pursuant to regulations of the Federal Reserve Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Home Loan Bank Board.
Page 12 - Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) and to make recommendations to promote uniformity in the supervision of financial institutions.
Page 1 - We recommend the creation of a National Monetary and Credit Council which would include the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Chairman of the Federal Deposit Insurance Corporation, and the heads of the other principal Federal agencies that lend and guarantee loans.
Page 66 - The professionalism and the level of cooperation between my staff and yours are greatly appreciated and we look forward to working with your staff again in the future.
Page 65 - GAO comments supplementing those in the report text appear at the end of this appendix. o Comptroller of the Currency Administrator of National Banks Washington, DC 20219 June 16, 1998 Mr.
Page 3 - The purpose of this section is to resolve the problems of insured depository institutions at the least possible long-term loss to the deposit insurance fund.
Page 18 - Board by order or regulation; (D) the acceptance of securities issued by the affiliate as collateral security for a loan or extension of credit to any person or company; or...
Page 18 - Act). (F) Paying excessive compensation or bonuses. (G) Paying interest on new or renewed liabilities at a rate that would increase the institution's weighted average cost of funds to a level significantly exceeding the prevailing rates of interest on insured deposits in the institution's normal market areas.