Regulatory Alerts2020-05-08
Added · Updated
SR 20-12: Interagency Policy Statement on Allowances for Credit Losses
The Federal Reserve Board, FDIC, NCUA, and OCC issued this revised interagency policy statement to align supervisory expectations with GAAP changes under FASB ASC Topic 326. The guidance updates concepts for measuring expected credit losses using the current expected credit losses methodology and accounting for available-for-sale debt securities. This document replaces previous allowance for loan and lease losses policy statements for institutions that have adopted the new accounting standard.
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