Financial Instruments and Institutions : Accounting and Disclosure Rules

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  • Edition: 2nd
  • Format: Hardcover
  • Copyright: 2007-04-20
  • Publisher: Wiley
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This book is an authoritative guide to the accounting and disclosure rules for financial institutions and instruments. It provides guidance from a "fair value" perspective and demonstrates the simplest and most natural measurement basis for reporting financial instruments, as is relevant for thrifts, mortgage banks, commercial banks, and property-casualty and life insurers.

Author Biography

Stephen G. Ryan is an Associate Professor of Accounting and Robert Stovall Faculty Fellow at the SternSchool of Business, New York University. Prior to that position, he was an assistant professor of accounting at the Yale School of Organization and Management and has been an associate consultant with Bain & Company. He has written numerous articles that have appeared in such publications as Accounting Horizons, Financial Analysts Journal, the Accounting Review, and the Journal of Financial Statement Analysis. He is an Editor of the Review of Accounting Studies. In addition, he is on the FASB's Financial Institutions Advisory Group and its Liabilities and Equity Resource Group.

Table of Contents

Prefacep. ix
Acknowledgmentsp. xvii
Financial Instruments and Institutionsp. 1
Main Ingredients of the Analysis of Financial Instrumentsp. 4
Activities and Risks of Financial Institutionsp. 11
Valuation of Financial Institutions in Practicep. 16
Nature and Regulation of Depository Institutionsp. 19
Activities of Depository Institutionsp. 19
Bank Regulationp. 22
Bank Subtypesp. 35
Recent Trendsp. 38
Thriftsp. 45
Financial Statement Structurep. 46
Main Risk-Return Trade-Offs and Financial Analysis Issuesp. 56
Interest Rate Risk and Net Interest Earningsp. 63
Views of Interest Rate Riskp. 64
Interest Rate Risk Conceptsp. 66
Analysis of Net Interest Earningsp. 78
Rate-Volume Analysisp. 81
Repricing Gap Disclosuresp. 84
Credit Risk and Lossesp. 93
Economics of Credit Riskp. 95
Accounts for Loans and Loan Lossesp. 97
Accounting and Disclosure Rules for Unimpaired Loansp. 100
Accounting and Disclosure Rules for Impaired Loansp. 107
Loan Portfolio Quality and Loan Loss Reserve Adequacyp. 110
Research on Banks' Loan Loss Reservesp. 118
SunTrust Banks-After the Restatementp. 119
Fair Value Accounting for Financial Instruments: Concepts, Disclosures, and Investment Securitiesp. 131
Fair Value Accounting for Financial Instrumentsp. 133
Disclosures of the Fair Value of Financial Instrumentsp. 141
Investment Securitiesp. 149
Washington Federal's Big Gapp. 158
Mortgage Banksp. 161
Mortgage Banking Industry, Major Players, and Activitiesp. 162
Financial Statement Structurep. 167
Main Risk-Return Trade-Offs and Financial Analysis Issuesp. 174
Accounting for Fees and Costsp. 186
Securitizationsp. 189
Why and What?p. 192
Securitization Structuresp. 196
SFAS No. 140p. 204
Financial Analysis Issuesp. 216
Empirical Research on Securitizationsp. 221
Servicing Rights and Prepayment-Sensitive Securitiesp. 222
Doral Financial's Interesting Interest-Only Stripsp. 224
Elements of Structured Finance Transactionsp. 235
Special-Purpose/Variable-Interest Entitiesp. 236
Related Transactionsp. 244
Hybrid Financial Instrumentsp. 248
Financial Guaranteesp. 251
Recent SEC Decisions Regarding Structured Finance Transactionsp. 253
Commercial Banksp. 255
Balance Sheetp. 257
Income Statementp. 261
Cash Flow Statementp. 265
Derivatives and Hedgingp. 269
Derivativesp. 272
Hedgingp. 282
SFAS No. 133 (1998), as Amendedp. 285
Framework for Assessing Financial Institutions' Derivatives and Hedgingp. 308
Market Risk Disclosuresp. 311
Overview of FRR No. 48 (1997)p. 312
Tabular Formatp. 315
Sensitivity Approachp. 322
Value-at-Risk Approachp. 326
Comparison of Disclosure Approachesp. 331
Effect of SunTrust's Derivatives and Hedging on Its Market Riskp. 332
Researchp. 337
Bank of America's Derivatives, Hedging, and Market Riskp. 337
Lessors and Lease Accountingp. 347
Competitive Advantages of Leasingp. 350
Lease Structures and Contractual Termsp. 352
Lessors' Risksp. 355
Lease Accounting Methodsp. 357
Analysis Issues Regarding Lease Accounting Methodsp. 366
Special Lease Transactionsp. 369
Lessors' Financial Statementsp. 374
Lease Disclosuresp. 379
Possible Future Changes in Lease Accountingp. 387
Insurers and Insurance Accountingp. 389
Productsp. 391
Risk-Return Trade-Offsp. 396
Regulationp. 403
Primary Insurance Accounting Standardsp. 405
Accounting Standards Governing Embedded Derivatives and Other Life Insurance Policy Featuresp. 421
Financial Statementsp. 423
Line of Business Disclosuresp. 428
Other Insurance Accounting Systemsp. 429
Property-Casualty Insurers' Loss Reserve Disclosuresp. 435
Loss Reserve Footnotep. 438
Loss Reserve Development Disclosuresp. 440
Calculating Loss Reserves by Accident Yearp. 444
Calculating Loss Reserve Revisions by Accident Yearp. 446
Calculating Claim Payments by Accident Year and Tailp. 448
Constructing Accident Year Loss Reserve T Accountsp. 452
Property-Casualty Expense Ratiosp. 453
Reinsurance Accounting and Disclosurep. 457
Accounting and Analysis Issuesp. 459
Reinsurance Contractsp. 462
Accounting for Reinsurance Contractsp. 472
Reinsurance Disclosures and Analysisp. 487
Evolution of Financial Reporting for Reinsurancep. 493
Indexp. 497
Table of Contents provided by Ingram. All Rights Reserved.

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