What is the Interagency Policy Statement on the Allowance for Loan Losses (ALL)?
^ In December 2006, the federal financial institution regulatory agencies issued a revised Interagency Policy Statement on the Allowance for Loan Losses (ALL). The policy statement revises and replaces the banking agencies’ 1993 policy statement on the ALL to ensure consistency with GAAP and more recent supervisory guidance. In addition, the agencies issued a supplemental Frequently Asked Questions (FAQs) document to assist institutions in complying with GAAP and ALL supervisory guidance.
Related Questions
- How would the staff normally expect Registrant G to adequately document a loan loss allowance under FASB ASC Subtopic 450-20 for these loans that were individually reviewed for impairment but are not considered individually impaired?
- In the staff’s view, what aspects of a registrant’s loan loss allowance internal accounting control systems and processes would appropriately be addressed in its written policies and procedures?
- What if the policy was used as collateral on a loan?
