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OCC Bulletin 2020-16
March 16, 2020
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Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
On March 13, 2020, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, and the Federal Deposit Insurance Corporation issued supplemental instructions to the Federal Financial Institutions Examination Council's (FFIEC) Consolidated Reports of Condition and Income (call report) in response to comments received on the proposed Interagency Policy Statement on Allowances for Credit Losses. The supplemental instructions pertain to nonaccrual treatment of purchased credit-deteriorated (PCD) assets for the March 31, 2020, call report for banks that have adopted the Financial Accounting Standards Board's Accounting Standards Update 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), and have PCD assets.
These instructions apply to the three versions of the call report (FFIEC 031, FFIEC 041, and FFIEC 051).
This bulletin applies to community banks that have adopted ASU 2016-13 and have PCD assets.
Please contact Sarah Nawrocki, Professional Accounting Fellow, Office of the Chief Accountant, at (202) 640-6280.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy