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ARTICLE · 29 MARCH 2006

FASB Issues Statement on Accounting for Servicing of Financial Assets

Goodwin Procter LLP
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OCC Permits National Banks to Hold Sub-Investment Grade Debt to Hedge Derivative Risks; SEC Approves Amendment to NASD Interpretive Material 3013 Regarding Timing of Report Related to Annual CEO Compliance Certification; FRB Issues Final Rule Concerning Shift of Liability for Unauthorized "Remotely Created Checks" from Paying Bank to Depositary Bank

United StatesFinance and Banking

Contents:

Developments of Note

1. FASB Issues Statement on Accounting for Servicing of Financial Assets

2. OCC Permits National Banks to Hold Sub-Investment Grade Debt to Hedge Derivative Risks

3. SEC Approves Amendment to NASD Interpretive Material 3013 Regarding Timing of Report Related to Annual CEO Compliance Certification

4. FRB Issues Final Rule Concerning Shift of Liability for Unauthorized "Remotely Created Checks" from Paying Bank to Depositary Bank

5. OCC Publishes Response to National Association of Realtors’ Letter Challenging Real Estate and Investment Powers of National Banks

6. FinCEN and Federal Banking Agencies Propose Revisions to SAR for Depository Institutions

7. SEC Commissioner Atkins Provides Views on Regulatory Matters at Industry Conference

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