Credit Reform: Case-by-Case Assessment Advisable in Evaluating Coverage
and Compliance (Letter Report, 07/28/94, GAO/AIMD-94-57).

This report evaluates several highly technical issues related to
implementation of the Federal Credit Reform Act of 1990. GAO discusses
(1) whether the budgetary treatment of the Government National Mortgage
Association conformed to credit reform requirements; (2) whether the
cost of programs that reduce the credit subsidy rate should be
considered in determining total credit subsidy costs and, if so, whether
the cost of the rental assistance provided to participants in the
Farmers Home Administration's section 515 direct loan program should be
added to the cost of the credit program; and (3) whether the 1990 act's
exclusion of the credit activities of the Resolution Trust Corporation
and the Federal Deposit Insurance Corporation from its requirements was
appropriate.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  AIMD-94-57
     TITLE:  Credit Reform: Case-by-Case Assessment Advisable in 
             Evaluating Coverage and Compliance
      DATE:  07/28/94
   SUBJECT:  Accounting procedures
             Financial management systems
             Credit
             Lending institutions
             Reporting requirements
             Cost accounting
             Budget administration
             Rent subsidies
             Rural housing programs
             Low income housing
IDENTIFIER:  FmHA Rural Rental Assistance Program
             FmHA Rental Assistance Program
             FmHA Section 515 Program
             RTC Affordable Housing Program
             
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