Skip to content

Take Recovery into Income for Book Purposes?

Answered by: 

Question: 
Senior lending officer wanted to know if the bank had a charged off loan that took more than 1 year to recover could we take that recovery into income for book purposes​.
Answer: 

Any recovery on any charged-off loan is credited back to your allowance for loan loss reserves account.

First published on 04/23/2017

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics