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FRS | RIN: 7100-AF04 | Publication ID: Fall 2018 |
Title: ●Regulation Q--Regulatory Capital Rules: Implementation and Transition of the Current Expected Credit Losses Methodology (Docket No: R-1605) | |
Abstract:
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (the agencies) are inviting public comment on a joint proposal to address changes to U.S. generally accepted accounting principles (U.S. GAAP) described in Accounting Standards Update No. 2016-13, Topic 326, Financial Instruments - Credit Losses (ASU 2016-13), including banking organizations' implementation of the current expected credit losses methodology. Specifically, the proposal would revise the agencies' regulatory capital rules to identify which credit loss allowances under the new accounting standard are eligible for inclusion in regulatory capital and to provide banking organizations the option to phase in the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard. The proposal also would amend certain regulatory disclosure requirements to reflect applicable changes to U.S. GAAP covered under ASU 2016-13. Finally, the agencies are proposing to make conforming amendments to their other regulations that reference credit loss allowances. |
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Agency: Federal Reserve System(FRS) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 12 CFR 217 | |
Legal Authority: 12 U.S.C. 1831 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Constance Horsley Deputy Associate Director Federal Reserve System Division of Supervision and Regulation, Washington, DC 20551 Phone:202 452-5239 Juan Climent Assistant Director Federal Reserve System Division of Supervision and Regulation, Washington, DC 20551 Phone:202 872-7526 Andrew Willis Lead Financial Institution Policy Analyst Federal Reserve System Division of Banking Supervision and Regulations, Washington, DC 20551 Phone:202 912-4323 Noah Cuttler Sr Fin Inst Policy Analyst II Federal Reserve System Division of Supervision and Regulation, Washington, DC 20551 Phone:201 912-4678 Benjamin McDonough Associate General Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2036 David Alexander Special Counsel Federal Reserve System Legal Division, Washington, DC 20551 Phone:202 452-2877 |