Kan. Admin. Regs. § 17-17-8 - Hedging of mortgage banking operations

Current through Register Vol. 40, No. 39, September 30, 2021

(a) The bank shall account for financial futures contracts associated with bona fide hedging of mortgage banking operations in accordance with generally accepted accounting principles applicable to the activity.
(b) As used in this regulation, "contracts associated with bona fide hedging of mortgage banking operations" means the origination and purchase of mortgage loans for resale to investors or the issuance of mortgage-backed securities.

Notes

Kan. Admin. Regs. § 17-17-8
Authorized by K.S.A. 9-1713; implementing K.S.A. 1995 Supp. 9-1101; effective, T-85-20, July 2, 1984; effective May 1, 1985; amended Aug. 9, 1996.

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