Federal Home Loan Bank System: Reforms Needed to Promote Its Safety,
Soundness, and Effectiveness (Chapter Report, 12/08/93, GAO/GGD-94-38).
In response to the savings and loan disaster, Congress overhauled
federal regulation of the thrift industry. Many of these changes
directly affected the Federal Home Loan (FHL) Bank System, which was
established in the 1930s to facilitate mortgage lending to homebuyers.
This report answers the following questions: Can the FHL Bank System pay
its assessment for affordable housing and for cleaning up the savings
and loan mess while carrying out its mission? What are appropriate
capital standards for the FHL Bank system? Should the terms of
membership in the FHL Bank System be changed? What is, and what should
be, the role of the FHL Bank system in affordable housing, and how would
system consolidation affect this? Should the FHL Bank System be allowed
to offer new products and services? GAO also discusses needed changes in
the corporate governance and regulation of the system.
--------------------------- Indexing Terms -----------------------------
REPORTNUM: GGD-94-38
TITLE: Federal Home Loan Bank System: Reforms Needed to Promote
Its Safety, Soundness, and Effectiveness
DATE: 12/08/93
SUBJECT: Government sponsored enterprises
Financial management systems
Federal corporations
Regulatory agencies
Mortgage loans
Banking regulation
Insured commercial banks
Federal aid for housing
Mortgage programs
Financial institutions
IDENTIFIER: Federal Home Loan Bank Modernization Act of 1993
FHFB System 2000 Plan
RTC Affordable Housing Program
Bank Insurance Fund
RTC Community Investment Program
Farm Credit System
Savings Association Insurance Fund
BIF
SAIF
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