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Bank regulatory agencies issue joint statement on new FASB standard on credit losses

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Jun 17, 2016

The U.S. bank regulatory agencies have issued a joint statement in response to the FASB’s recently issued Accounting Standards Update No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” The agencies’ joint statement summarizes key elements of the new accounting standard and provides initial supervisory views regarding the standard's implementation.

The joint statement is available on the Web site of the Office of the Comptroller of the Currency.

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