Identifying Impaired Loans to Meet Regulatory Requirements
Should you consider a loan impaired when an institution has exhausted all possible ways to help a borrower? Earlier? When a loan goes on nonaccrual?
Examiners have their own definitions of when loans are impaired. If your definition is not written, clear, defensible, or does not meet regulatory expectations, they will expect you to use theirs. Your policy has to meet regulatory guidance and generally accepted accounting principles.
- What are the best methods for identifying impairment triggers?
- How can you determine if impairment accounting is required?
- When and how often should impairment estimates be updated?
- Where should impairment estimates appear in financial reports?
- What changes may be coming to the impairment estimation process under the FASB’s proposal?
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