Recent market conditions have contributed to an increase in bargain purchases, such as the acquisition of failed bank assets and liabilities.
According to recent filings with the Securities and Exchange Commission, at least one bank has found an opportunity to improve its capital position through changes to its employee stock ownership plan (ESOP).
On December 16, the Board of Directors of the Federal Deposit Insurance Corporation finalized the regulatory capital rule related to the Financial Accounting Standards Board’s adoption of Statements of Financial Accounting Standards Nos. 166 and 167.
On December 9, the Office of Thrift Supervision (OTS) issued a reminder regarding the importance of accurately accounting for credit losses or impairments of investments in the form of a CEO letter.
On August 19 the Federal Deposit Insurance Corporation (FDIC) gave notice that it will discuss in an open board meeting to be held on August 26 the following three highly publicized initiatives.
On August 3, the Federal Deposit Insurance Corporation (FDIC) released a Financial Institution Letter entitled "Allowances for Loan and Lease Losses in the Current Economic Environment: Loans Secured by Junior Liens on 1-4 Family Residential Properties" to FDIC-supervised institutions.
On May 22, the Office of Thrift Supervision (OTS) released a letter to the chief executive officers of OTS-regulated institutions related to the agency’s findings after a "horizontal review" it performed with respect to allowance for loan and lease losses (ALLL) at some of the larger thrift institutions (savings banks and savings and loan associations) regulated by the OTS.
On May 14, the Office of Thrift Supervision, which regulates savings banks and their holding companies, issued a CEO Bulletin (Bulletin) that alerts institutions to the recent change to generally accepted accounting principles (GAAP) with respect to available-for-sale and held-to-maturity debt securities.
On March 18, the Financial Accounting Standards Board issued two proposed staff positions (FSPs) on application guidance for fair value measurements and impairments of securities.