Allowances for Credit Losses: Revised Comptroller’s Handbook Booklet and Rescissions
Why this matters
This is an informational bulletin updating the Comptroller's Handbook to reflect the now-mandatory CECL accounting standard (ASC Topic 326) and interagency policy revisions. It rescinds prior guidance and provides examiners with current supervisory expectations for credit loss allowances. While not a new binding rule, it represents a significant consolidation of supervisory guidance affecting all national banks and federal savings associations, warranting a score of 3 for noteworthy regulatory guidance with concrete supervisory signals.
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What the OCC said
The Office of the Comptroller of the Currency (OCC) issued version 2.0 of the "Allowances for Credit Losses" booklet of the Comptroller's Handbook. The booklet provides information for examiners regarding allowances for credit losses under Accounting Standards Codification Topic 326, "Financial Instruments-Credit…
Extract from OCC . Read the full notice at the source for the authoritative text.
Context
Office of the Comptroller of the Currency (OCC) — Charters and supervises US national banks and federal savings associations. We track 49 updates from them.
US financial regulation is overseen by multiple agencies including the SEC, CFTC, Federal Reserve, OCC and FDIC. Browse all United States updates.
This update is classified under Reporting & Disclosure, Prudential / Capital Requirements and Banking & Credit.