Regulatory Alerts2023-04-27 | 2023-08876Added · Updated
Interagency Policy Statement on Allowances for Credit Losses (Revised April 2023)
The OCC, Federal Reserve, FDIC, and NCUA issued a revised interagency policy statement to align regulatory guidance with FASB Accounting Standards Update 2022-02. The agencies removed references to Troubled Debt Restructurings (TDRs) from the original 2020 statement to maintain conformance with updated U.S. GAAP requirements. The revised document continues to provide guidance on the Current Expected Credit Losses methodology, internal controls, and examiner reviews for allowances for credit losses.
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