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USCIB Introduces Certification Program

Through the U.S. Council on International Banking (USCIB) and the United Kingdom's Chartered Institute of Banking, a new designation is being offered for credit specialists. In 1998, they can seek the designation of Certified Documentary Credit Specialist (CDCS). Professional certification is proof that an individual has completed a training regimen, accumulated experience and passed a rigorous examination in a chosen field.

The Certified Documentary Specialist program will be a key topic at the USCIB's Annual Conference, scheduled for Sep-tember 14-18, 1997 in Palm Springs, CA. For more information, call 212/466-3352.

FASB Agrees to Move Ahead With Derivatives Standard The Financial Accounting Standards Board (FASB) will publish a final Statement on accounting for derivatives and hedging to take effect Jan. 1, 1999.

The statement will require derivatives to be recognized in financial statements and measured at fair value. Gains and losses would be accounted for depending on the uses of the derivative and whether it qualifies for hedge accounting.

"This approach to accounting for derivatives and hedging is a significant improvement over current accounting," said FASB Chairman Edmund L. Jenkins.

For more information, visit FASB's website www.fasb.org

In Memorium

Frank E. DuBrava, CBA

NACM respectfully announces the death of Frank E. DuBrava, retired credit manager of the Napier Company, Meridan, CT. A long-time member of NACM, Mr. DuBrava had served for many years on NACM's National Education Committee, chairing it from 1985-1987. He will be missed.

Frederick Donald "Don" Collins E 1928-1997

Mr. Collins was an active member of Credit Managers Association for many years, serving on its Board of Directors for more than 10 years and was President/Chief Elected Officer of CMA(S)C in 1986-87. Later he served as a Director of the National Association of Credit Management (NACM). In addition, he was an active member of the Roofing Wholesalers Credit Group, and while employed by both Gaffers & Satler and Motorola, was part of the TV & Appicance Credit Group. …

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