This Accounting Bulletin 14-1 (September 2014) transmits an interagency regulatory reporting policy revised in relation to loans that have previously been modified in a troubled debt restructuring (TDR) under generally accepted accounting principles (GAAP). For TDR loans for which the credit union and the borrower subsequently enter into another restructuring agreement, the policy clarifies the circumstances in which the subsequent restructuring of a loan that is a TDR need no longer be treated as a TDR. Under certain circumstances specified in the interagency regulatory reporting policy it may be acceptable not to account for the subsequently restructured loan as a TDR.
14-01 / September 2014
Interagency Regulatory Reporting Policy Revised in Relation to Loans that have Previously been Modified in a Troubled Debt Restructuring