New US rules on loan loss provisions apply to IAS filers

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11 Jul 2001

The US SEC has issued Staff Accounting Bulletin 102, Selected Loan Loss Allowance Methodology and Documentation Issues.

It sets out SEC staff views on loan and lease losses, focusing particularly on the documentation the SEC normally would expect registrants to maintain in support of their allowances for loan losses. Concurrently, US federal bank regulatory agencies issued essentially identical guidance. The guidance would apply to international registrants as well as domestic ones.

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