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FCA | RIN: 3052-AD36 | Publication ID: Fall 2021 |
Title: Implementation of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule and Conforming Amendments | |
Abstract:
This rulemaking addresses changes to U.S. generally accepted accounting principles (U.S. GAAP) described in Accounting Standards Update No. 201613, Topic 326, Financial Instruments Credit Losses (ASU 201613), including System institutions’ implementation of the current expected credit losses methodology. Specifically, the rule revises the Agency’s regulatory capital rules to identify which credit loss allowances under the new accounting standard are eligible for inclusion in regulatory capital. The rulemaking also makes conforming amendments to other regulations that reference credit loss allowances. |
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Agency: Farm Credit Administration(FCA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 628 | |
Legal Authority: 12 U.S.C 2154 12 U.S.C. 2154a 12 U.S.C. 2252 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Ryan Leist Associate Director, Office of Regulatory Policy Farm Credit Administration 1501 Farm Credit Drive, McLean, VA 22102-5090 Phone:703 883-4223 TDD Phone:703 883-4056 Fax:703 883-4477 Email: leistr@fca.gov |