What's New with the Division of Corporate Finance? (SEC Presentation on Banks Savings Institutions)

The SEC Division of Corporate Finance ("DCF") has released this presentation given by Stephanie Ciboroski, Senior Assistant Chief Accountant and Mark Shannon, Associate Chief Accountant. Their (almost 50-page) PowerPoint presentation provides (i) a general update on the DCF and its organization, (ii) a description of the DCF comment process, and (iii) an overview of frequent areas of staff comment on accounting and disclosure matters. The frequent areas of staff comment included (i) a general update, and (ii) an overview of frequent areas of staff comment on accounting and disclosure matters.

Areas of frequent staff comment include the following:

• Loans and Allowances
• Troubled Debt Restructurings
• Deferred Tax Assets
• Purchased Credit Impaired Loans
• Goodwill Impairment Testing
• FDIC-Assisted Acquisitions
• Fair Value Disclosures
• Mortgage Repurchase Reserves
• MD&A Disclosures
• Item 4.02 Form 8-Ks
• MSR Disclosures
• Basel III Capital/Liquidity Ratios
• Reporting for BHCs under the JOBS Act
• Sovereign Debt Exposures
• VAR Disclosures.