Dodd-Frank News Center

OFR issues reports on financial system, financial stability

This story appeared in Bank Digest.                                   

The Office of Financial Research has released its 2017 Annual Report to Congress, which assesses the state of the United States financial system, and its 2017 Financial Stability Report, which presents the OFR's annual assessment of U.S. financial stability. The reports say overall risks to financial stability remain moderate, similar to a year ago. New vulnerabilities have emerged over the past year, while financial-system resilience has improved, according to the reports.

OFR issues 2015 Annual Report to Congress

This story appeared in Bank Digest.

The Office of Financial Research has released its "2015 Annual Report to Congress," fulfilling its statutory responsibility to report on potential threats to U.S. financial stability, key research findings, and progress in meeting its mission. The report also describes the OFR's 2016 agenda. The report says threats to U.S. financial stability have edged higher since last year's report, they but remain in the medium, or moderate, range. That assessment has not changed since the Federal Reserve Board incrementally increased short-term interest rates last month.

Comments sought on TARP information collection activities

This story appeared in Bank Digest.

The Office of Financial Stability within the Treasury Department is soliciting comments concerning information collection requirements contained in Title 31 CFR Parts 30 and 31. The information collected under Parts 30 and 31 will be used to evaluate and minimize real and apparent conflicts of interest related to contractual or financial agent agreement services performed under the Troubled Asset Relief Program and evaluate the compensation practices of TARP recipients.

Treasury Issues Four-Year Retrospective Report on TARP

This story appeared in Bank Digest.

A four-year retrospective report on the Troubled Asset Relief Program issued by the Treasury Department's Office of Financial Stability notes that, during the past year, the OFS made “significant strides toward winding down TARP and recovering the taxpayers' outstanding investments.” The report highlights that:

• On Dec. 14, 2012, Treasury sold its final shares of AIG common stock;
• The OFS has substantially reduced the number of banks that remain part of TARP's Capital Purchase Program;
• On Dec. 21, 2012, General Motors repurchased 200 million shares of the company's common stock from Treasury, which intends to sell its remaining shares within the next 12-15 months; and
• The OFS has also substantially wound down TARP's credit market programs during 2012.

 

OFS Report Shows Continuing Effort to Exit Investments

By Sarah Borchersen-Keto, Washington News Bureau, Contributing Author, the Federal Banking Law Reporter and Bank Digest.

During fiscal year 2013 the Office of Financial Stability will continue to evaluate its options for exiting outstanding investments in banks, programs to restart credit markets and the two remaining participants in the Automotive Industry Financing Program (AIFP), GM and Ally Financial, according to the OFS Citizens Report. As of Sept. 30, 2012, the largest remaining outstanding Troubled Asset Relief Program investments were in AIFP. The report noted that, going forward, the collections or costs from the AIFP and the amount that is ultimately disbursed from Treasury housing programs under TARP are expected to “most significantly affect the lifetime cost of TARP.”

OFS Report Issued

This story appeared in Bank Digest.

The Office of Financial Stability has issued its Financial Report for Fiscal Year 2012, which describes the financial and performance results for the Troubled Asset Relief Program. The report contains the financial statements for TARP and the Government Accountability Office audit opinion on those financial statements, a separate opinion on OFS internal control over financial reporting and results of the GAO’s tests of OFS compliance with selected laws and regulations.