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OCC Bulletins posted
The OCC yesterday posted two Bulletins:
- Bulletin 2020-85 - "Current Expected Credit Losses: Final Rule" - announced the rule finalizing the interim final rule to delay the estimated impact on regulatory capital stemming from the implementation of Accounting Standards Update No. 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (CECL) by banks.
- Bulletin 2020-86 - "Community Reinvestment Act: Small Bank Compliance Guide" includes a compliance guide for small banks, an initial illustrative list of qualifying activities, and a form to request consideration of items to be added to the list of qualifying activities