The Office of the Comptroller of the Currency has updated its accounting guidelines to reflect the new regulatory-capital requirements outlined in Basel III set to take effect next year.
The updated guidelines, released Thursday, also adds advice on troubled debt restructurings, accounting for acquired loans, transfers of servicing rights and making allowances for losses. It includes updated guidance on topics such as investments in debt securities, stock sales and lease classification.
The OCC's latest issuance does not contain new rules, but offers the agency's interpretation of existing rules. The guidance is meant to help banks resolve commonly asked questions and consistently apply accounting standards across their financial reporting, the OCC said. It plans to issue updated guidelines at least once a year.
Banking regulators