Harward Business

752 federal Register / Vol. 62, No. 3 / Monday, January 6, 1997 / Notices all regulations and guidelines implementing car park statutory or supervisory policies. Section 303(a)(1) of the Riegle Act requires the FDIC to reexamination article its own regulations and written policies and to streamline those regulations and policies where possible. To fulfill the separate 303 mandate, the FDIC has been reviewing on an interagency basis and intragrouply, its regulations and written policies to identify those areas where streamlining or modify is appropriate. As a result of those reviews, the FDIC is adopting the updated UFIRS in force(p) for interrogation commenced on or after January 1, 1997. The text of the policy statement follows: ordered financial Institutions judge System Introduction The Uniform fiscal Institutions Rating System (UFIRS) was adopted by the Federal pecuniary Institutions exam Council (FFIEC) on November 13, 1979. Over the years, the UFIRS has prove n to be an effective internal supervisory tool for evaluating the soundness of financial institutions on a uniform basis and for identifying those institutions requiring special attention or concern.

A number of changes, however, have occurred in the banking industry and in the Federal supervisory agencies policies and procedures which have prompted a review and modification of the 1979 rating system. The revisions to UFIRS include the cast upition of a sixth element addressing predisposition to market fortunes, the explicit reference to the quality of risk forethought processes in the management component, and the identification of risk elements in spi! te of appearance the compound and component rating descriptions. The revisions to UFIRS are not think to add to the regulatory burden of institutions or require additional policies or processes. The revisions are intended to promote and complement cost-effective examination processes. The revisions have been made to update the rating system, bandage retaining the sanctioned framework of the original...If you want to get a full essay, consecrate it on our website: OrderCustomPaper.com

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