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IMTEC-92-60R 1 (1992-05-28)

handle is hein.gao/gaobackbi0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Information Management and Technology Division B-242522 May 28, 1992 i il The Honorable Donald W. Riegle, Jr. 146733 Chairman, Committee on Banking, Housing, and Urban Affairs United States Senate Dear Mr. Chairman: Vital indicators used by bank regulators--the Federal Deposit Insurance Corporation (FDIC), Federal Reserve System (FRS), and the Office of the Comptroller of the Currency (OCC)--to monitor the safety and soundness of our nation's banking system are quarterly call reports, which provide financial information on the operating conditions of banks. These bank-generated reports are required by regulators to help determine whether banks may be experiencing problems, so that corrective action can be taken. In February 1991 we reported on call-report processing delays by FRS and the Office of Thrift Supervision (OTS) for the first quarter of 1990.1 Earlier this year, we reported on a subsequent delay by OTS--the federal regulator for thrift institutions--for the third quarter of 1990.2 Consequently, we recommended that OTS strengthen call-report system controls. This letter responds to your request for information on whether automation is being used to expeditiously make call reports available to the bank regulators and public for review. As agreed with your office, we focused on determining the methods used by banks to submit call reports and the efforts taken by FDIC, FRS, and OCC to expedite how these submissions are entered into their systems. To accomplish this, we met with officials representing bank regulators and the banking industry in Washington, D.C. Our work was ' Banks and Thrifts: Cause of Federal Regulators' Delays in Releasing Timely Call Report Data (GAO/IMTEC-91-26BR, Feb. 26, 1991). 2 Office of Thrift Supervision: Stronger System Controls Needed to Prevent Call Report Delays (GAO/IMTEC-92-22, Feb. 14, 1992). GAO/IMTEC-92-60R, Banks: Call Report Automation !E5453~INa

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