FDIC OKs Delay of FAS 166, 167 Effect on Capital

The Office of the Comptroller of the Currency, the Board of Governors of the federal reserve system, the Federal deposit insurance corporation, and the Office of Thrift Supervisio

FAS 157 was required for financial statements filed after Nov 2007. It was effectively suspended (I don’t know the term of art here) as of March 2008 (Bear crisis). Level 3 assets jumped sharply for all firms during that reporting period. Similarly, the FDIC has agreed to delay implementation of FAS 167, see

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FAS 166 or that is consolidated under FAS 167 to be either brought back or remain on balance sheet, with a resulting effect on a bank’s risk-based capital requirements. To address this, the FDIC’s final rule provides for (a) a two-quarter delay, at the option of the bank, for the implementation by a bank in recognizing prior existing

implements FAS 166 and FAS 167. Thereafter, a banking organization that opted for the delay may elect to phase in the risk-based capital requirements resulting from the implementation of FAS 167 over the third and fourth quarters after the implementation date. However, a bank

FDIC finalizes risk-based capital rule related to FAS 166/167. – The final rule provides an optional delay and phase-in for a maximum of one year for the effect on risk-based capital and the allowance for lease and loan losses related to the assets that must be.

The following discussion and analysis of the Company’s financial condition and results of operations should be read in. This executive summary of management’s discussion and analysis highlights.

The House has passed legislation requiring the Federal Reserve Board, in consultation with the SEC, to conduct a study and report to Congress on the impact on individual classes of asset-backed securities of FASB’s new securitization accounting standards, FAS 166 and 167, and the Act’s new credit risk retention requirements.

The NPR also requests comment on various matters involving the effect of FAS 166 and FAS 167 on securitizations and related activities by banks and any accounting treatment and risk-based capital requirements involving those activities.

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potentially drastic effects on securitization contracts where the failed bank is the sponsor or at. Modifications to GAAP through FAS 166 and 167 have. FDIC ISSUES ANPR ON ITS ROLE AS RECEIVER OR CONSERVATOR OF ASSETS TRANSFERRED IN CONNECTION WITH A BANKSPONSORED SECURITIZATION – Banking Law Committee Journal, March 2010.