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FDIC OKs Delay of FAS 166, 167 Effect on Capital

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The Company has applied its credit underwriting judgment, risk management skills and capital markets experience to offer insurance that protect holders of debt instruments and other monetary.

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 · 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 consolidated as a result of the accounting change.

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New rules by the Financial Accounting Standard Board, in the form of FAS 166 and 167. a potentially severe capital and credit shock to the financial system as of January 1st, when the new.

Such written acknowledgment must be issued without delay, and nothing in this section should be construed to give the office any power to approve or disapprove any acquisition or disposition of real property, improvements thereon, or other capital assets.

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The unprecedented stress testing, officially dubbed the Supervisory Capital Assessment Program, incorporated several accounting changes into its modeling, including the potential effects of FAS 166 and FAS 167.

The FASB ruling should mean securitization will be more transparent, banks will have to have more capital before they can securitize, and investors in asset-backed securities will be more discriminating because they will no longer be protected by the off-the-books businesses if the bank fails.

Updated with Rules, Notifications, Circulars and Orders till July 16, 2019, all presented at one place under the relevant section of Companies Act, 2013

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