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| RECENT NEWS |
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Conflict of Interest Reporting
We have heard from a number of you regarding the reporting provisions passed in the last legislative session. IBAT led a delegation of affected trade groups in a meeting with the bill author, Representative Beverly Woolley, to discuss our concerns. Representatives Woolley and Smithee asked the Attorney General for some clarification, and the opinion was released late last week. In a nutshell, if there is consideration either way (interest-bearing account or loan) that produces taxable income, it is a reportable event. We will be working with the Legislature in the Spring to amend this law to mitigate the unique issues created for bank relationships with public officials. Special thanks to Representative Woolley and her staff for their willingness to work with us on this issue.
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: We are taking a lien on a house that is in a flood zone. However, the house is on a small hill above the flood level. Can we waive flood insurance?
To find out the answer, click on the flashing question mark. And you can also check out our searchable database of other frequently asked questions. |
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| WELCOME NEW MEMBERS |
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| CONSUMER TIPS |
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This month's edition of Consumer Tips encourages consumers to explore the products and services that best fit their banking needs and to develop a long-term relationship with their community banker. |
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| SOLUTIONS FROM SERVICES |
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From all of us at the IBAT Bond Trust, we are pleased to announce the unveiling of the official Texas community banking team website. We are excited to go live with this new site in the hopes that we can further serve IBAT community banks. It is our objective to maintain the value of this site by keeping it “refreshed” through constant updating.
On our site, you will find information about the history of the IBAT Bond Trust, application information, and other useful information to both a banker and a Texan. Don't take our word for it...find out for yourself! Click here to be directed to IBAT Bond Trust home page. We value your opinions so please let us know if you have any suggestions or ideas. E-mail Anthony Landry at anthony.landry@usi.biz and let us know what you think. |
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| 32ND ANNUAL CONVENTION |
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October 1-3, 2006 - Westin La Cantera Resort, San Antonio
The IBAT Convention is one of our primary sources for raising PAC funds.
Here are some of the ways you can participate:
 Online, Silent and Live Auction - Thanks to all of you who have sent in your auction items. More items are coming in every day. For a sneak peek at some of the items, click here. And, for an Auction Pledge Form, click here. Dream Vacation - For a $10 investment, you have an opportunity to win $5000 cold hard cash toward your Dream Vacation or to fill up your car with gasoline a couple of times. To order tickets, click here or call Lindsey at 800.749.4228 for rules and ticket information.
Visit us online for more information. And don't forget...August 18 is the early bird registration deadline and cutoff for room reservations.
We'd also like to extend a big THANK YOU to all our sponsors and exhibitors for their generous support! Exhibit space is sold out, but we still have some sponsorship opportunities available. Don't miss this chance to promote your company to potential clients! |
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| BAKER WEEKLY |
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The Dow Jones is down 1.5% for the week, crude oil down about $0.50/bbl, and Treasury Yields are up about 7bp on the long end of the curve. Read more in this week's Baker Weekly. Although this information has been obtained from sources, which we believe to be reliable, we do not guarantee its accuracy. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
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| IBAT EDUCATION FOUNDATION |
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Question: Check out the announcement about the Texas Education Agency approving the IBAT Education Foundation's web site as a provider of approved materials for the Fall 2006 semester. In the article, "Pamela Yip: High Schools Focus on Financial Lessons" who says "Now, there's a very clear signal to all the public schools in Texas that these areas really need to be covered in economics before students graduate"?
Answer: Michelle Davidson Ungurait |
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ON THE EDUCATION FRONT |
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Advanced Bonds Analysis Summit
September 7, 2006 - Crowne Plaza Dallas near the Galleria
Hotel Deadline - August 23rd
Bond Analytics - A Hands-On approach to effectively utilizing the following tools: Relative Value Analysis, Yield, Average Life, Duration, Convexity, Total Return, OAS. After briefly defining each term, we will use Bloomberg to analyze different types of bonds with different tools to determine which tool works best with each bond type. We will also look at the assumptions each analytic tool uses.
Bloomberg Page Breakdown - Portfolio managers usually see Bloomberg pages from their broker before purchasing a bond so it becomes critical to understand what each page tells us and what assumptions affect the results. We will cover every piece of information on the most common Bloomberg pages such as Security Description, Yield Table, Option Adjusted Spread, GRADE and FFIEC High Risk Security Test.
Recent Regulatory Issues - Issues to be discussed include pronouncements pertaining to options risk and other than temporary impairment.
Active Portfolio Management - Utilizing everything discussed during the workshop, we will analyze sample investment portfolios and determine the strengths and weaknesses of each. We will see how to make relative value decisions between and among various alternatives using the tools and techniques previously discussed. We will then develop a written investment strategy to implement any necessary changes. The session will also focus on the integration of the investment portfolio into the overall Asset/Liability Management structure of the bank.
Bond Types - What are the characteristics of each type of bond including Treasury, Agency, Municipal, Corporate, MBS and CMO. We will discuss the risk/reward relationship of each type and determine which bonds perform best in various interest rate environments. For each sector, we will use Bloomberg to do a detailed pre-purchase analysis on several live bond offerings and determine which one we would buy today.
Who Should Attend: This summit was created for presidents and CFOs who feel they need a review or for assistants who help with the portfolio, but have never had the opportunity to be exposed to bond education. |
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COMING SOON |
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For a complete listing of upcoming events, click here. Meanwhile, please mark your calendar for some of our key events for 2006.
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August 23, 2006 - Fort Worth |
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August 24-25, 2006 - Arlington |
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August 28, 2006 - Amarillo |
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August 29, 2006 - San Angelo |
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September 1-4, 2006 - Coeur d'Alene, Idaho |
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September 7, 2006 - Crowne Plaza Dallas near the Galleria |
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October 1-3, 2006 - San Antonio |
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October 8-13, 2006 - Dallas | | |
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Contact IBAT or if you have comments or questions about this newsletter,
email or call Bonnie Kankel at (800) 749-4228. |
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