tailieunhanh - 1GA Report to the Congress December 1988 FINANCIAL AUDIT Federal Home Loan Banks 1987_part6

Báo cáo Subsequrnt tháng 2 năm 1987, các FHLBanks, nói chung, có qalns rncluded và thiệt hại về giao dịch đầu cơ bằng cách sử dụng các securltles thị trường tiền mặt trong thu nhập từ đầu tư I "orlty xem theo ma) của Tổ công tác đang nổi lên vấn đề của Ban Chuẩn mực Kế toán Frnanclal. Điều này thay đổi ln kế toán kết quả L "giảm lưới ~" đến khoảng $ cho năm kết thúc vào ngày 31 Tháng 12 1987 . | Financial Statements Subsequent to February 1987 the FHLBanks generally have included gains and losses on hedge transactions using cash market securities in income from investments in accordance with the majority view of the Emerging Issues Task Force of the Financial Accounting Standards Board. This change in accounting resulted in a reduction of net income of approximately 1 588 000 for the year ended December 31 1987 Prepayment. Fee 5 A prepayment fee IS charged by the FHLBanks when an advance with an original term of one year or more IS paid prior to Its original maturity. Such fees are credited to income when received. Commitment Fees Commitment fees for advances and letters of credit are recorded as deferred credits when received. Nonrefundable fees of less than 5 000 are recognized as income immediately. Fees of 5 000 or more are amortized to income over the period of the commitment on the straight-line basis. Refundable fees are deferred until the commitment expires the advance IS made or the letter of credit IS issued. In December 1986 the Financial Accounting Standards Board issued Statement No. 91 Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases. This statement will be effective for the 1988 fiscal year of the FHLBanks. The effect of adopting the statement has not yet been determined. FHLBanks receive service fees from borrowers for AID guaranteed loans against which the direct expenses associated with the financing axrangements are charged. The balance is deferred and amortized to income at 1 of the unamortized balance per month. Amounts distributed by the FHLBanks for FICO s redeemable capital stock are accounted for as capital distributions within an affiliated group and are recorded as a subtractive component of capital m the accompanying combined statement of condition. Transactions among the FHLBanks and related interbank balances have been eliminated m arriving at .