Dec. 18, 2006 News Archive

SR 06-17: Interagency Policy Statement on ALLL --- Highlights
The Board issued SR 06-17, Interagency Policy Statement on the Allowance for Loan and Lease Losses (ALLL) on Dec. 13; this updated guidance supersedes SR 93-70 issued in December 1993. The updated guidance letter reiterates key concepts in GAAP and SR Letter 01-17, but it also provides additional direction on measuring estimated credit losses, attributes of an effective loan classification system and the independence requirements of external reviews.

Agencies Announce Interim Decision on Impact of FAS 158 on Regulatory Capital
On Dec. 14, the federal bank and thrift regulatory agencies announced an interim decision that the Statement of Financial Accounting Standards No. 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans (FAS 158), will not affect banking organizations' regulatory capital.

Board Eliminates Certain Reporting Requirements of Regulation O
The Federal Reserve Board adopted, on an interim basis, amendments to Regulation O (12 CFR part 215) to eliminate certain reporting and disclosure requirements. This interim rule became effective on Dec. 11, 2006; however, the Board is requesting comments until Jan. 10, 2007. (PDF)