Bank Accounting Advisory Series Updated — 2021-08-16

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released an update to the Bank Accounting Advisory Series (BAAS). The BAAS addresses a variety of accounting topics and promotes consistent application of accounting standards and regulatory reporting among national banks and federal savings associations. This edition of the BAAS reflects updates to accounting standards issued by the Financial Accounting Standards Board on such topics as amortization of premiums on callable debt securities and evaluating goodwill impairment triggering events for private companies. Additionally, this edition includes answers to frequently asked questions from the industry and bank examiners. The BAAS does not represent rules or regulations of the OCC. Rather, it represents the Office of the Chief Accountant’s interpretations of generally accepted accounting principles and regulatory guidance based on the facts and circumstances presented. The OCC updates the BAAS annually.