Harward Business

752 federal Register / Vol. 62, No. 3 / Monday, January 6, 1997 / Notices all regulations and guidelines implementing parking lot statutory or supervisory policies. Section 303(a)(1) of the Riegle Act requires the FDIC to redirect examination article its own regulations and written policies and to streamline those regulations and policies where possible. To fulfill the atom 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 good for interrogation commenced on or after January 1, 1997. The text of the policy statement follows: ordered financial Institutions judge System Introduction The Uniform pecuniary Institutions Rating System (UFIRS) was adopted by the Federal fiscal Institutions exam Council (FFIEC) on November 13, 1979. Over the years, the UFIRS has proven 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 rescript of the 1979 rating system. The revisions to UFIRS include the cast upition of a sixth part addressing predisposition to market risks, the explicit reference to the quality of risk forethought processes in the management component, and the identif ication of risk elements within the compou! nd and component rating descriptions. The revisions to UFIRS are not mean to add to the regulatory burden of institutions or require surplus policies or processes. The revisions are intended to promote and complement high-octane examination processes. The revisions have been made to update the rating system, patch retaining the sanctioned framework of the original...If you want to get a proficient essay, consecrate it on our website: OrderCustomPaper.com

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