Accounting Requirements for RUS Telecommunications Borrowers

The Rural Utilities Service (RUS) is amending its regulations on accounting policies and procedures for RUS telecommunications borrowers as set forth in RUS's regulations concerning Accounting System Requirements for RUS Telecommunications Borrowers. This rule establishes an accounting interpretation for postretirement benefits that addresses both the requirements of the Financial Accounting Standards Board (FASB) and the Federal Communications Commission (FCC). It also sets forth accounting interpretations that establish uniform accounting procedures for Rural Telephone Bank (RTB) stock, cushion of credit investments, Rural Economic Development loans and grants, and satellite or cable television service investments.