Assurance Services • Published 3/24/2020 FASB Statement on Prudential Regulator Guidance Concerning Troubled Debt Restructurings

Last updated on 3/24/2020

On March 22, 2020, the Financial Accounting Standards Board (FASB) issued the following statement:

“The Federal and state prudential banking regulators issued a joint statement that included guidance on their approach to the accounting for loan modifications in light of the economic impact of the coronavirus pandemic. This guidance was developed in consultation with the staff of the FASB who concur with this approach and stand ready to assist stakeholders with any questions they may have during this time.”

Click Here to Access the Statement