Items Tagged with 'Financial Accounting Standards Board'


  • LoanScorecard launches new solution

    SimpleCECL utilizes Andrew Davidson & Co’s credit and prepayment model
    LoanScorecard announced it launched a new solution designed to provide loan-level analyses for current expected credit loss provisioning reserves. The company explained SimpleCECL will replace the current “incurred loss” model and goes into effect in 2020 for SEC-filing institutions and 2021 for all other financial institutions.
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  • The Future of Housing Finance: the GSEs as Landlords

    The conference yesterday at the Treasury in Washington was structured to herald in a new era of transparency in the mortgage finance markets. In this sense, it served as a decent starting point, though constant references to ancient Rome were of some concern (one panelist went so far as to compare himself to Marc Antony against, presumably, Tim Geithner's Caesar.)
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  • Regulators Propose Accounting Changes as 'Problem' Banks Grow

    Bank regulators on Wednesday issued a proposal on new accounting standards that would address the alignment of regulatory capital requirements with the actual risks of certain exposures, including securitized assets. The Federal Reserve, Federal Deposit Insurance Corp. (FDIC), Office of Thrift Supervision (OTS) and Office of the Comptroller of the Currency (OCC) issued the proposal on the standards, which would subject affected banking organizations to higher minimum capital requirements beginning in 2010.
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  • ABA Raises Concerns on FASB, IASB Accountancy Changes

    Major accountancy changes and overhauls may take several years to implement across wide markets due to the complex nature of the instruments affected. Therefore, financial accounting boards in markets across the globe are taking the opportunity to begin revising rules in the midst of a lull in the securitization markets.
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  • $150bn of Assets May Return to BofA's Balance Sheet in 2010

    Bank of America [stock BAC][/stock] may soon bring some $150bn of off-balance-sheet assets back onto its balance in Q110 with the implementation of a new accounting rule, FAS 167, potentially pressuring its capital reserves. Of the assets the bank says it may bring to its balance sheet, home equity conduits account for an estimated $12bn, while card securitizations account for $85bn, and other variable interest entities make up the remaining $53bn, according to an equity research note by Keefe, Bruyette & Woods' (KBW) Jefferson Harralson.
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  • Levitt: Proposed Accounting Changes Will 'Obscure' Impairments

    Former Securities and Exchange Commission chairman Arthur Levitt fired a strong volley Thursday morning against the so-called mark-to-market lobby in a Washington Post op-ed, saying that proposed changes to key accounting rules governing the valuation of distressed assets would "obscure" and potentially "bury" the full extent of impairments on bad loans and ill-advised investments made by banks and other financial institutions.
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  • FASB Acts!

    At last week’s House hearing on mark-to-market accounting, representatives from both sides of the aisle blamed accounting standards for skewering bank balance sheets and demanded, as Congressman Paul Kanjorski (D-PA) put it, that “the Financial Accounting Standards Board and the Securities and Exchange Commission to do the jobs they are required to do. Emergency situations require expeditious action, not academic treatises. They must act quickly.”
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  • OTTI Rules Tweaked or Sharpened?

    It appears a cranky FASB, responding to a flood of comments -- some ill-informed, a bunch form letters -- added a few teeth to what had been looking like a technical fix to other-than-temporary-impairment guidance for securitized assets. Last week the Financial Accounting Standards Board voted to issue FSP EITF 99-20-a, Amendments to the Impairment and Interest Income Measurement Guidance of EITF 99-20, but with additional language not included in the exposure draft.
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