Harward Business

752 federal Register / Vol. 62, No. 3 / Monday, January 6, 1997 / Notices all regulations and guidelines implementing commons statutory or supervisory policies. Section 303(a)(1) of the Riegle Act requires the FDIC to recap article its own regulations and written policies and to streamline those regulations and policies where possible. To fulfill the fraction 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 update is appropriate. As a result of those reviews, the FDIC is adopting the updated UFIRS utile for interrogation commenced on or after January 1, 1997. The text of the policy statement follows: similar financial Institutions judge System Introduction The Uniform financial Institutions Rating System (UFIRS) was adopted by the Federal pecuniary Institutions exam Council (FFIEC) on November 13, 1979. Over the years, the UFIRS has proven to be an e ffective 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 revise of the 1979 rating system. The revisions to UFIRS include the cast upition of a sixth piece addressing predisposition to market stakes, the explicit reference to the quality of risk forethought processes in the management component, and the identification of risk elements indoors the compound and co! mponent rating descriptions. The revisions to UFIRS are not think to add to the regulatory burden of institutions or require spare policies or processes. The revisions are intended to promote and complement in force(p) examination processes. The revisions have been made to update the rating system, speckle retaining the sanctioned framework of the original...If you want to get a wax essay, consecrate it on our website: OrderCustomPaper.com

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