Agencies issue joint statement on new accounting standard on financial instruments-credit losses

[kreslik.news]

Board of Governors of the Federal Reserve System

Federal Deposit Insurance Corporation

National Credit Union Administration

Office of the Comptroller of the Currency

For release at 11:00 a.m. EDT
June 17, 2016
Agencies Issue Joint Statement on New Accounting Standard on Financial Instruments Credit Losses
The four federal financial institution regulatory agencies today issued a joint statement regarding the new accounting standard, Accounting Standards Update (ASU) No. 2016-13, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board. The joint statement also provides initial ... (read more)