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Accounting

Accounting

Accounting impacts all aspects of bank operations and requires recordkeeping systems that generate accurate and reliable information and reports needed to meet the needs of customers, shareholders, supervisory agencies, tax authorities, and courts of law. Information in this section focuses on regulations and supervisory guidance for estimating allowances for credit losses and the submission of financial and regulatory reports, and controls to ensure these processes are consistently applied. 


Current Expected Credit Losses (CECL)

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-13, Topic 326, Financial Instruments – Credit Losses (ASU 2016-13), on June 16, 2016. This accounting standard introduced the current expected credit losses methodology (CECL) for estimating allowances for credit losses. CECL applies to all banks, savings associations, and financial institution holding companies, regardless of size, that file regulatory reports for which the reporting requirements conform to U.S. generally accepted accounting principles (GAAP).
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Consolidated Reports of Condition and Income (Call Reports)

Each quarter, institutions submit Call Report data to the bank regulatory agencies for use in monitoring the condition, performance, and risk profile of individual institutions and the industry as a whole.
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Bank Securities

Some FDIC-supervised banks have equity securities that are registered with the FDIC under the Securities Exchange Act of 1934 (Exchange Act) and Part 335 of the FDIC’s regulations. Such registered banks are responsible for filing periodic reports, such as Forms 10-K, 10-Q, and 8-K, all other Exchange Act reports, and proxy solicitation materials (preliminary and final).
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Other Accounting Related Topics

Last Updated: June 20, 2025