I can't believe I haven't posted an entry since the end of August. All I can say is we have been really busy.
We finally took a necessary breather last Sunday and sailed up the coast. We stumbled across 'Friendship' returning from the Gloucester Schooner Festival. 'Friendship' is a reconstruction of a 1797 171-foot three-masted Salem East Indiaman.
So why have we been so busy? Well, we're getting ready to publish June 2006 content.
iBanknet.com is built on dual XML(extensible markup language) and XBRL(extensible business reporting language) foundation. Each quarter we maintain 7 banking taxonomies. There were not a lot of changes to the taxomonies this quarter:
- Credit Unions - No changes this quarter.
- Thrifts - June features Schedule SB Consolidated Small Business Loans.
- Banks and Holding Companies: A new fixed item 'F465' replaced text/reporting item '5351'. The caption is 'Cumulative - effect adjustment resulting from the initial adoption of FAS 159, Fair Value Option'. There were also some modified parenthetical changes to clarify applicability to tiered bank holding companies.
The biggest changes are our back-office processes. All the back-office processes have been now fully automated. I am now redundant. I feel a certain loss of control as a result. But in business, this is what you strive for. Now I can spend more time on strategic things.
I hope you enjoyed your summer and have a great autumn. I know we're looking forward to increasing our content significantly over the next quarter.
Cheers,
Chris
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