We audited Treasury's role in the $535 million loan guarantee made to Solyndra in 2009. We found Treasury performed a consultation on the terms and conditions of the Solyndra loan guarantee as derived from law and regulation implementing the Department of Energy's Loan Guarantee Program. However, whether that consultation met the intent of the applicable law and regulation is not clear because Treasury's consultative role was not sufficiently defined. The consultation that did occur was rushed, and no documentation was retained as to how Treasury's serious concerns with the loan guarantee...

The Office of Audit plans to start 88 projects in fiscal year 2014 and complete 44 projects started in prior years. Our ability to initiate new self-directed audits and complete those in progress will be affected by mandated work. We have identified 126 high-priority projects that must be deferred beyond fiscal year 2014. Our in-progress and planned work and projects for future consideration are described in the Planned Projects by OIG Issue Area section of this document.

OIG performs independent, objective reviews of Treasury programs and operations, except for those of the Internal Revenue Service (IRS) and the Troubled Asset Relief Program (TARP), and keeps the Secretary of the Treasury and Congress fully informed of problems, deficiencies, and the need for corrective action. The Treasury Inspector General for Tax Administration (TIGTA) performs oversight related to IRS. A Special Inspector General and the Government Accountability Office (GAO) perform oversight related to TARP.

Treasury launched the SBLF program on December 20, 2010, but has not issued the program terms for all applicants. Currently, only insured depository institutions, bank holding companies, and savings and loan holding companies may apply for funding under the program. As of April 18, 2011, Treasury had received 626 applications from these institutions requesting approximately $9.2 billion. Approximately 43 percent of the applications were from Troubled Asset Relief Program (TARP) banks. Treasury officials estimate program terms will be released for S corporations, mutual institutions, and...

SSBCI is a $1.5 billion Treasury program that provides participating states, territories and eligible municipalities with funding to strengthen Capital Access Programs and other credit support programs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs. Each participating state is required to...

SSBCI is a $1.5 billion Treasury program that provides participating states, territories and eligible municipalities with funding to strengthen Capital Access Programs and other credit support programs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans, with a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs. Each participating state is required to...

SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funding to strengthen CAPs and other credit support programs that provide financial assistance to small businesses and manufacturers. CAPs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Other credit support programs include collateral support, loan participation, loan guarantee, and venture capital programs. Each participating state is required to designate specific departments,...

Enacted into law on September 27, 2010, the SBLF is a dedicated fund designed to encourage lending to small businesses by providing capital to qualified community banks3 and Community Development Loan Funds (CDLF). Treasury launched the SBLF program on December 20, 2010, and by the program's September 27, 2011, funding deadline had disbursed $4.03 billion to 332 financial institutions. The 332 institutions included 281 community banks and 51 CDLFs.

SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and OCSPs that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. OCSPs include collateral support, loan participation, loan guarantee, and venture capital programs.

SSBCI is a $1.5 billion Treasury program that provides participating states, territories, and eligible municipalities with funds to strengthen Capital Access Programs and other credit support programs (OCSP) that provide financial assistance to small businesses and manufacturers. Capital Access Programs provide portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. OCSPs include collateral support, loan participation, loan guarantee, and venture capital programs.