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The Balance Sheet - Volume 9-4
Friday, November 04, 2011
Volume 9-4
For All U.S.-Based Banks, Higher Capital Standards That Include a New Conservation Buffer are a Major Change under the Dodd-Frank Act By Frank Gonzalez, CPA/CFF (fgonzalez@mbafcpa.com)The challenges of managing capital and of meeting regulators' required capital-to-asset ratios could soon become more difficult and complex for banks as they prepare for the new capital rules of the Federal Reserve and other regulators under the Dodd-Frank Act and the Basel III Accords
Many Foreign Banks That Have U.S. Offices Will Need to Prepare Dodd-Frank Resolution Plans Known as "Living Wills" By Frank Gonzalez, CPA/CFF (fgonzalez@mbafcpa.com) As part of the Dodd-Frank Act's rules for monitoring systemic risk, foreign bank holding companies (BHCs) that have $50 billion or more in consolidated worldwide assets and one or more offices in the United States are among banking companies that must start preparing so-called "living will" plans.
The IRS is Closely Examining Tax Accounting on Foreclosures By Manuel E. Pravia, CPA (mpravia@mbafcpa.com) In the May 2011 issue of The Balance Sheet, we noted that the IRS has been expanding its examinations of banks as part of its goal of increasing revenues to help offset federal budget deficits.
For Privately Held Banks, New Disclosures are Due on Receivables and Allowance for Credit Losses By Yvette Garcia, CPA(ygarcia@mbafcpa.com)For privately held banks, the deadline is at hand for complying with an Accounting Standards Update (ASU) that requires new disclosures about the credit quality of financing receivables and the allowance for credit losses.
Cloud Computing for Financial Institutions: With the Benefits Come Security Concerns By Trevor Foo, CISA, CISM, CRISC(tfoo@mbafcpa.com)Many financial institutions are finding that they can obtain significant cost savings and operating efficiencies by using cloud computing, in which they share servers and various processes with other businesses that are part of a pool of configurable computing resources.
Many Foreign Banks That Have U.S. Offices Will Need to Prepare Dodd-Frank Resolution Plans Known as "Living Wills" By Frank Gonzalez, CPA/CFF (fgonzalez@mbafcpa.com) As part of the Dodd-Frank Act's rules for monitoring systemic risk, foreign bank holding companies (BHCs) that have $50 billion or more in consolidated worldwide assets and one or more offices in the United States are among banking companies that must start preparing so-called "living will" plans.
The IRS is Closely Examining Tax Accounting on Foreclosures By Manuel E. Pravia, CPA (mpravia@mbafcpa.com) In the May 2011 issue of The Balance Sheet, we noted that the IRS has been expanding its examinations of banks as part of its goal of increasing revenues to help offset federal budget deficits.
For Privately Held Banks, New Disclosures are Due on Receivables and Allowance for Credit Losses By Yvette Garcia, CPA(ygarcia@mbafcpa.com)For privately held banks, the deadline is at hand for complying with an Accounting Standards Update (ASU) that requires new disclosures about the credit quality of financing receivables and the allowance for credit losses.
Cloud Computing for Financial Institutions: With the Benefits Come Security Concerns By Trevor Foo, CISA, CISM, CRISC(tfoo@mbafcpa.com)Many financial institutions are finding that they can obtain significant cost savings and operating efficiencies by using cloud computing, in which they share servers and various processes with other businesses that are part of a pool of configurable computing resources.
In This Issue For All U.S.-Based Banks, Higher Capital Standards That Include a New Conservation Buffer are a Major Change under the Dodd-Frank Act »
Many Foreign Banks That Have U.S. Offices Will Need to Prepare Dodd-Frank Resolution Plans Known as "Living Wills" »
The IRS is Closely Examining Tax Accounting on Foreclosures »
For Privately Held Banks, New Disclosures are Due on Receivables and Allowance for Credit Losses»
Cloud Computing for Financial Institutions: With the Benefits Come Security Concerns»
Up Close: Emilio Escandon, CPA»
Up CloseEmilio Escandon, CPA
The purpose of this newsletter is to provide general information on tax, audit and other issues related to the financial services industry. The information contained herein may not apply to all institutions or organizations and their specific circumstances. Financial services organizations are encouraged to consult directly with an accounting expert before making tax and accounting decisions.
