| NEWS |
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A recently enacted accounting rule, FASB Statement 159, affords banks a "fair value option" in valuing financial assets and liabilities. The statement contains provisions for early adoption allowing banks to implement the new rule as of December 31, 2006 and reflect market adjustments against retained earnings rather than impacting 2007 earnings.
Some industry observers and securities firms took a very aggressive position in urging banks to initiate balance sheet and securities portfolio restructuring under the early adoption provisions without the benefit of clear guidance or interpretation from the accounting industry or banking regulators. We have first hand knowledge that many of those banks are now facing regulatory and accounting scrutiny due to the advice they received from these firms.
The Baker Group, one of our endorsed providers, on the other hand observed that the rule changes were extremely complex and could have a major impact on a bank’s financial reporting. Baker took a very cautious stance on the early adoption expressing the concern that many of the portfolio recommendations being promoted were “gaming the rules” and were not consistent with the intent of the accounting statement. Banks that took this advice were well served.
The Baker Group is representative of the quality of all of our endorsed partners and why the IBAT Services Board and staff go through months of due diligence before a company and/or product is recommended to the IBAT Board for endorsement.
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| IBAT LEADERSHIP DIVISION |
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Click the links below to read the press releases from our recent Leadership Conference:
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| IBAT 33RD ANNUAL CONVENTION |
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Watch your mail in early July for the official convention brochure. Or check out the preliminary schedule and early bird registration form available on our web site now.
More information... |
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: When we request funds verification from another bank, we are being told that they can't verify...that there is a GLBA privacy issue. What can we do?
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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| SOLUTIONS FROM SERVICES |
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Mark your calendar for The Baker Group's Investment Strategies for 2007's 2nd Quarter conference call on Thursday, July 12, 2007 11:00 am CDT. Contact Chris Wilson at the Baker Group to register or for more information at cwilson@gobaker.com.
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| IBAT EDUCATION FOUNDATION |
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CRA Credit Granted by FDIC!
The IBAT Education Foundation received great news recently! Based upon requests made to the federal regulators, the FDIC has informed us that Community Reinvestment Act (CRA) consideration will be granted for any volunteer time contributions (Service Credit) to the Foundation for financial education classes taught by bankers as part of the Junior Achievement curriculum across Texas; and for financial contributions (Investment Credit) to help build and support the planned Junior Achievement experiential center in a low- to moderate-income area of Austin.
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| BAKER WEEKLY |
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Leading economic indicators rose to 0.3%, indicating that the prospect of economic growth over the next three to six months is slightly positive, as opposed to April’s figure which suggested a contraction...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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| ON THE EDUCATION FRONT |
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Advanced Bonds Summit
August 2, 2007
Omni La Mansion del Rio, San Antonio
At the end of the summit, attendees will be able to:
 Explain basic principles of interest rate and bond market dynamics
Apply proper analysis of individual bonds
Identify techniques for comparison of different bond types
Create a method for investment portfolio management within the context of overall Asset/Liability Management |
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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 2007.
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September 29 - October 2, 2007 - Fort Worth |
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FDIC Banker Outreach
October 23 - Richardson
October 25 - Arlington |
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Financial Literacy Summit
December 4-5 - TBD | | |
