Regulatory Alerts2020-05-08
Added · Updated
SR 20-13: Interagency Guidance on Credit Risk Review Systems
The Federal Reserve Board, FDIC, NCUA, and OCC issued updated interagency guidance replacing the 2006 Loan Review Systems policy to align with the Current Expected Credit Losses accounting standard. The guidance establishes safety-and-soundness standards for the independent, ongoing review of credit risk and the communication of loan portfolio performance to management and boards of directors. Supervised institutions are expected to implement these practices to ensure robust credit risk management frameworks.
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