December 23, 2002 News Archive

Interagency Advisory on Accounting for AIRs Related to Credit Card Securitizations
The Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision issued an advisory (PDF) clarifying the appropriate accounting treatment of accrued interest receivables (AIRs) related to credit card securitizations.

BIS Issues Report on Insolvency Arrangements and Contract Enforceability
The Bank for International Settlements (BIS) issued a report (PDF) exploring the legal underpinnings of the international financial system in coping with cross-border financial insolvency. The report analyzes insolvency processes and presents in-depth, cross-country approaches for dealing with distressed financial institutions.

BIS Publishes Quarterly Review on International Banking and Financial Market Developments
The Bank for International Settlements published its quarterly review (PDF) featuring international banking and developments in the debt securities and derivatives markets.