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Alabama Bankers Association
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Recorded Wednesday, March 12th, 2008
The Institute of Certified BankersTM(ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. This webinar has been approved for 2.5 CRCM credits.
The regulators have proposed changes for 2008 that affect reporting of 1-4 residential real estate loans (income, averages, restructured), RC-P, and RC-Q. The comment period for the 2008 proposed changes closed November 13, 2007. Other significant changes to Call Report line items were approved for 2007 and subsequent years. Annual changes in accounting standards and regulatory interpretations also affect the data submitted. This two hour program provides a review of revisions of line items, accounting standards, and regulatory interpretations, as well as a review of some common errors made during call report preparation. It will insure that the Call Report preparer knows what has changed and will change and can prepare to accurately report the required data.
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- Proposed Call Report Revisions:
- March, 2008 Changes
- 1-4 Family Residential Real Estate Loans
- Restructured 1-4 Family Residential Real Estate Loans
- 1-4 Family Residential Real Estate Loans in Process of Foreclosure
- Revised Reporting Threshold for Noninterest Income and Expense
- Revised Reporting Threshold for RC-D
- RC-P Revisions
- Separate items for originations, purchases, and sales of open end 1-4 family mortgages
- Mortgage loan repurchases and indemnifications
- Schedule RC-Q, Financial Assets & Liabilities Measured at Fair Value
- Schedule revisions so consistent with other financial reporting
- May elect to report loans at fair value
- Approved Call Report Revisions:
- March, 2007 (2008)
- Real Estate Secured Loans, RC-C, RC-L, RC-N, RI-B
- 1-4 Construction
- All Other Construction, Land Development, and Vacant Land Loans
- Real Estate Secured Loans, RC-C, RC-N, RI-B
- Owner-Occupied Non-farm, Non-residential
- Other Non-farm, Non-residential
- Retail and Commercial Leases
- Income from Annuity Sales
- Investment Banking, Advisory, Brokerage, Underwriting Income
- Schedule RC-Q, Financial Assets & Liabilities Measured at Fair Value
- September, 2006
- FHLB Advances & Other Borrowings
- Nonaccrual Assets
- Secured Borrowings
- Closed End 1-4 Mortgage Banking Activities (RC-P)
- Officer Signature Requirements
- March, 2006
- Reduced reporting on Uninsured Deposits, Asset Backed Securities, and Bankers Acceptances
- Life Insurance Assets
- Credit Derivatives
- Other Real Estate from GNMA Loans
- Recent Guidance and Proposed Changes
- Recent Regulatory Guidance on Overdrafts and Overdraft Protection Programs
- Recent Accounting Changes affecting commitments to originate mortgage loans for resale
- Proposed Risk Based Capital Modifications
- Common Errors in Call Report Preparation
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This update will benefit the more experienced Call Report preparers, reviewers, and auditors. It will supplement annual comprehensive Call Report training recommended by bank regulators.
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Ann Thomas has twenty-five years of experience in bank accounting and control. She received a BA in Accounting from the University of Houston in 1982. From 1982 through 1997 she worked with Judith Alexander Jenkins, as Alexander & Associates and subsequently Alexander & Leavelle, providing planning, financial reporting, regulatory reporting, and operational and compliance auditing services to over ninety independent banks.
In 1998, she organized Thomas Consulting. At Thomas Consulting she now prepares bank plans, monthly financial reports, performs regulatory compliance audits and training and internal control audits for several banks. Additionally, she prepares and reviews Call Reports for various banks. Ms. Thomas has taught numerous call report seminars for state banking associations. She has presented the Call Report Seminar to and has responded to questions from thousands of bankers in over 16 states. Her experience in working with a broad range of independent financial institutions is of unique value in understanding Call Report questions and in communicating with bankers in their language.
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