Regulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances; Correction
Fed · other · Published 2020-05-19 · Effective 2020-05-19 · 85 FR 29839
Document
Document number
2020-08789
Federal Register citation
85 FR 29839
CFR reference
12 CFR 3
Type
Rule
Action
Correcting amendment.
Category
other
Agency
US Federal Reserve System
Publication date
2020-05-19
Effective date
2020-05-19
Docket
Docket ID OCC-2020-0015
Abstract
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation published an interim final rule in the Federal Register on March 31, 2020, that delays the estimated impact on regulatory capital stemming from the implementation of Accounting Standards Update No. 2016-13, Financial Instruments--Credit Losses, Topic 326, Measurement of Credit Losses on Financial Instruments (CECL). This correcting amendment corrects errors in and clarifies the March 31, 2020, interim final rule.