Bies on current issues in corporate governance
"Financial regulators want to encourage banking organizations to strengthen their processes and documentation associated with their determination of the adequacy of their allowance for loan and lease losses," Bies said in remarks to a conference sponsored by the Bank Administration Institute.
"Management of financial institutions should be reminded to take the time to review the estimation procedures for determining their loan-loss reserves," she added in the speech on corporate governance. She did not touch on the outlook for the economy or interest rates.
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Remarks by Federal Reserve Governor Susan Schmidt Bies at the Bank Administration Institute's Fiduciary Risk Management Conference 2004, Las Vegas, Nevada, 26 April 2004.
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