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Informational Memorandum
Subject:FCA Examination Manual Update
Date of Memorandum:04/13/1999
Expiration Date:
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:Section EM-135 (Financial Institution Rating System) and
EM-199 Supplement 5 (Financial Institution Rating System Guide)


April 13, 1999

To: FCA Examination Manual Subscribers

From: Roland E. Smith, Director /s/
Office of Examination

Subject: FCA Examination Manual Update

Attached is the revised FCA Examination Manual section EM-135 entitled Financial Institution Rating System, and the Financial Institution Rating System (FIRS) Guide. FCA examiners use the FIRS to evaluate and categorize the safety and soundness of Farm Credit System institutions on an ongoing, uniform, and comprehensive basis. Section EM-135 describes the FIRS and its objectives. The FIRS Guide provides examiners further guidance concerning the evaluation and rating of capital, assets, management, earnings, liquidity, and sensitivity.

Under Module: General

Remove the existing section, entitled Financial Institution Rating System (EM-135), and insert the revised section.

Add the Financial Institution Rating System (FIRS) Guide (EM-199 Supplement 5) after Supplement 4 at the end of the module.