CONTENTS Response to written questions of Senator Mack William Seidman, Chairman, Federal Deposit Insurance Corporation....... Differences in bank and thrift capital standards Reliability of financial information Recommendations on accounting and reporting standards... Improving auditing of federally insured depository institutions....... Response to written questions of: Senator Riegle. Senator Mack Response to written questions of Senator Mack Wayne D. Angell, Member, Board of Governors, Federal Reserve System Page 180 182 197 200 Page Richard C. Breeden, Chairman, Securities and Exchange Commission-Con- 118 I. The role of capital requirements and business expansion in the 121 II. How the thrift accounting techniques facilitated expansion with- 131 III. The proper role of financial reporting: market based accounting Charts 1-7 |