Deposit Insurance: Assessment of Regulators’ Use of Prompt Corrective Action Provisions & FDIC’s New Deposit Insurance System

Front Cover
DIANE Publishing
0 Reviews

What people are saying - Write a review

We haven't found any reviews in the usual places.

Common terms and phrases

Popular passages

Page 66 - Office, the audit, evaluation and investigative arm of Congress, exists to support Congress in meeting its constitutional responsibilities and to help improve the performance and accountability of the federal government for the American people.
Page 59 - We will also make copies available to others upon request. In addition, the report will be available at no charge on GAO's Web site at If you or your staff have any questions about this report, please contact me at (202) 512-7215 or
Page 59 - 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...
Page 67 - GAO's commitment to good government is reflected in its core values of accountability, integrity, and reliability. The fastest and easiest way to obtain copies of GAO documents at no cost is through GAO's Web site ( Each weekday, GAO posts newly released reports, testimony, and correspondence on its Web site. To have GAO e~mai.i you a list of newly posted products every afternoon, go to and select, "Subscribe to Updates.
Page 60 - 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 59 - Contact points for our Offices of Congressional Relations and Public Affairs may be found on the last page of this report.
Page 24 - 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.
Page 24 - ... usual course of business, including any investment, expansion, acquisition, sale of assets, or other similar action with respect to which the depository institution is required to provide notice to the appropriate Federal banking agency.
Page 23 - ... of the effective period of the prior determination. (C) Appointment of receiver required if other action fails to restore capital. (i) In general. Notwithstanding subparagraphs (A) and (B), the appropriate Federal banking agency shall appoint a receiver for the insured depository institution if the institution is critically undercapitalized on average during the calendar quarter beginning 270 days after the date on which the institution became critically undercapitalized. (ii) Exception. Notwithstanding...
Page 5 - I provides a more detailed description of our scope and methodology. We conducted our work from January 2005 through December 2005 in accordance with generally accepted government auditing standards.

Bibliographic information