Financial Institution Letter – FIL-51-2013 – October 29, 2013: “The FDIC and the other federal banking agencies are issuing the attached joint statement to update and revise the 2004 Uniform Agreement on the Classification of Assets and Appraisal of Securities Held by Banks and Thrifts (2004 Agreement). The statement reiterates the importance of a robust investment analysis process and the agencies’ longstanding asset classification definitions. It also addresses Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which directed the agencies to remove any reference to or requirement of reliance on credit ratings in the regulations and replace them with appropriate standards of creditworthiness. State nonmember institutions should use this statement for the classification and treatment of investment securities.  Statement of Applicability to Institutions With Total Assets Under $1 Billion: This Financial Institution Letter  applies to all FDIC-supervised banks and savings associations, including community institutions. “