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The Federal Reserve began permitting commercial banks to reclassify accounts from transaction deposits to savings accounts (and money market accounts) in 1994.
Aphton Corporation (Nasdaq:APHT) today reported that it would reclassify certain items on its balance sheet to reflect a recalculation of the value of the beneficial conversion feature (BCF) attributable to the Company's issuance of $20.
Although the Company may reclassify certain balance sheet items in connection with the review, it is currently not aware of any issues that would adversely impact its previously reported financial results or shareholders' equity.
The Federal Reserve Bank of Chicago (the "Federal Reserve") and the Illinois Office of Banks and Real Estate (the "OBRE") concluded in a regulatory review of certain loans that the Company should reclassify the loans as nonaccrual as of September 30, 2002 and December 31, 2002, due to the regulators' assessment that the ultimate collectibility of the loans as of the end of the third and fourth quarters was doubtful.
District Court for the Southern District of New York dismissed a request to reclassify marijuana - currently a Schedule I drug, leaving the plaintiffs in a limbo after many states have legalized marijuana for medical and recreational purposes.
released the following statement today after the announcement of an agreement with Mylan, the manufacturer of EpiPen to reclassify the auto injection medical device, a move that will save taxpayers hundreds of millions of dollars.
Agriculture Secretary Emmanuel Pinol directed the agency to remove the heirloom rice from its regular rice program and reclassify it as a high-value crop, Caraguian said.
Until it occurred to them that perhaps they could reclassify and pay a lower tax rate.
Under the current plans, the contract will reclassify doctors' normal working week to include Saturdays and late evening working.
Global Banking News-September 25, 2015--RBI to allow domestic banks to reclassify loans
In response to the announcement, an attorney who has filed a lawsuit against Shyp, Shannon Liss-Riordan, told InsideCounsel, "I was very pleased to learn that Shyp is planning to reclassify its workers as employees.