BANK Wire – FASB backs off fair value proposal

Description

Abstract: This issue’s “BANK Wire” explains that FASB has tentatively decided to allow banks to continue reporting loans held for collection at amortized cost rather than at fair value. It also notes appraisal and evaluation policies and procedures in view of new guidelines issued by the five banking regulators in December; FASB’s deferral of the effective date for certain disclosures about troubled debt restructurings (TDRs); and the Secure and Fair Enforcement for Mortgage Licensing Act, which imposes strict licensing and registration requirements on mortgage loan originators (MLOs).