Regulatory Alerts2014-02-10
Added
Update of Disclosure of Credit Quality of Debts and Credit Loss Provision in Credit Cards Companies
The Supervision of Banks Department updates public reporting requirements for credit card companies and banking institutions regarding the disclosure of credit quality and credit loss provisions. The amendments revise disclosure formats for the Board of Directors' report and annual financial statements, introducing new metrics for impaired and non-impaired debts, including specific thresholds for 90+ days past due, and requiring separate reporting for consumer and commercial segments. These changes align with FASB standards and become effective for reports dated after March 31, 2014, with specific credit rating disclosures required after December 31, 2014.
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