Deloitte US has enhanced its LDC Suite
software to help institutions making acquisitions in Federal
Deposit Insurance Corporation-assisted transactions meet their loss
share reporting requirements.
Deloitte originally designed the LDC Suite
software to assist financial institutions that purchase distressed
debt with their accounting for loans and debt securities that fall
within the scope of American Institute of Certified Public
Accountants Statement of Position 03-3, Accounting for Certain
Loans or Debt Securities Acquired in a Transfer.
“We believe that having a common database
platform to address these two challenging topics – loss share
reporting and distressed debt accounting – creates efficiency and
helps to reduce risk through data consistency and reduced
system-to-system interfaces,” said Deloitte LDC Suite practice
leader Hillel Caplan.
The LDC Suite is loan and debt security
calculation software that uses a structured query language database
application. It was originally based on Deloitte’s CDO Suite, which
is the firm’s software system for collateralised debt