OCC BULLETIN 2018-13
Subject: Current Expected Credit Losses
Date: May 16, 2018
To: Chief Executive Officers of All National Banks and Federal Savings Associations; Federal Branches and Agencies of Foreign Banks; Department and Division Heads; All Examining Personnel; and Other Interested Parties
Description: Notice of Proposed Rulemaking
On May 14, 2018, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the agencies) published a notice of proposed rulemaking (NPR) to implement the Financial Accounting Standards Board’s Accounting Standards Update (ASU) 2016-13, “Financial Instruments—Credit Losses,” in their rules. The proposed revisions would conform definitions in the agencies’ capital and non-capital rules to the current expected credit losses (CECL) standard and provide an optional transition framework for banks that experience a decrease in capital as a result of adopting the CECL standard.
The proposed rule would
Please contact Mark Ginsberg, Senior Risk Expert, Capital Policy Division, at (202) 649-6489; Jeffrey Geer, Associate Chief Accountant, at (202) 649-6280; or Kevin Korzeniewski, Counsel, Legislative & Regulatory Activities Division, at (202) 649-5490.