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Washington
Inside Washington (08/04/2009)
* WASHINGTON (8/5/09)--The Federal Deposit Insurance Corp. (FDIC) issued a letter Monday urging financial institutions to look at potential loan losses. Each institution should “analyze the collectibility of its loans held for investment and maintain an allowance for loan and lease losses. After determining the appropriate historical loss rate for each group, management should consider those current qualitative or environmental factors that are likely to cause the estimated credit losses on the loans,” FDIC said. Failure to recognize losses could delay loss mitigation activity--such as restructuring junior lien loans to more affordable payments or reducing principal on such loans, the agency warned ...


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