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Thrift Industry: Net Worth and Income Capital Certificates

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Report Type Reports and Testimonies
Report Date June 23, 1986
Report No. GGD-86-100FS
Subject
Summary:

In response to a congressional request, GAO provided information on the Net Worth Certificate Program, specifically: (1) its participants; and (2) the Federal Savings and Loan Insurance Corporation's use of income capital certificates to support the net-worth levels of thrift institutions.

GAO found that: (1) Congress is currently considering reauthorizing the program; and (2) two institutions should not be included in the set of eligible participants because they were acquired by bank holding companies and, therefore, showed large increases in asset size and net worth.

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