Banking


Bank and thrift regulators issue an advisory letter containing techniques that financial institutions can use to manage risks associated with mortgage banking activities ( www.federalreserve.gov/boarddocs/press/bcreg/2003/20030225/attachment.pdf ). Prepared by the Office of the Controller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of Thrift Supervision, the guidance addresses the accounting for and valuation and hedging of mortgage-related assets as well as management information systems and internal auditing considerations. The agencies say they may increase capital reserve requirements for financial institutions that ignore these recommendations.

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The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.