- Federal Reserve System – Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance, GAO-11-696, July 21, 2011 – “On numerous occasions in 2008 and 2009, the Federal Reserve Board invoked emergency authority under the Federal Reserve Act of 1913 to authorize new broad-based programs and financial assistance to individual institutions to stabilize financial markets. Loans outstanding for the emergency programs peaked at more than $1 trillion in late 2008. The Federal Reserve Board directed the Federal Reserve Bank of New York (FRBNY) to implement most of these emergency actions. In a few cases, the Federal Reserve Board authorized a Reserve Bank to lend to a limited liability corporation (LLC) to finance the purchase of assets from a single institution. In 2009 and 2010, FRBNY also executed large-scale purchases of agency mortgage-backed securities to support the housing market. The table provides an overview of all emergency actions covered by this report.”
- Financial Markets and Institutions, Securities Fraud Liability of Secondary Actors, GAO-11-664, July 21, 2011
- Afghanistan – Actions Needed to Improve Accountability of U.S. Assistance to Afghanistan Government, GAO-11-710, July 21, 2011
- Space and Missile Defense Acquisitions – Periodic Assessment Needed to Correct Parts Quality Problems in Major Programs, GAO-11-404, July 21, 2011
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