ROFL! FDIC "Tells Banks" To Quit Cooking The Books!
• The Market TickerOh My God. I write two Tickers on The FDIC and banks' refusal to take their marks, and gee, you'd think someone over there might have read them! SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corp. said late Monday that banks should recognize losses on home loans promptly and warned that failure to do so could delay efforts to mitigate the financial impact. Institutions must analyze the collectibility of the loans they hold for investment at least every quarter, the FDIC said in a statement on its Web site. Banks then have to keep an appropriate allowance for loan and lease losses, covering estimated credit losses on individually evaluated loans that are deemed to be impaired, and on groups of loans with similar risk characteristics, the regulator said.
