The Office of the Comptroller of the Currency today released its annual update to the Bank Accounting Advisory Series, a document containing staff responses to frequently asked questions from the banking industry and bank examiners on a variety of accounting issues. The document assumes all banks are using the CECL. Topics covered include loan modifications, credit losses and the elimination of accounting for troubled-debt restructurings by creditors that have adopted updated FASB standards.
ABA urges OCC to provide stronger safeguards, clearer rules for charter applicants
As the OCC considers revising its chartering rules, the agency should seek to uphold strong safety and soundness standards, increase transparency in the chartering process, and move cautiously as new regulatory frameworks develop, ABA said. The association also...










