Federal Financial Regulatory Agencies Issue Interagency Policy Statement on Allowances for Credit Losses and Interagency Guidance on Credit Risk Review Systems

Four federal financial regulatory agencies have approved a policy statement on allowances for credit losses. The statement will promote consistency in the interpretation and application of the Financial Accounting Standards Board’s credit losses accou…

Four federal financial regulatory agencies have approved a policy statement on allowances for credit losses. The statement will promote consistency in the interpretation and application of the Financial Accounting Standards Board's credit losses accounting standard, which introduces the current expected credit losses (CECL) methodology.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-60.html