Banking Alert: FASB Eliminates TDR Guidance for Creditors
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The ASU eliminates the recognition and measurement guidance related to troubled debt restructurings (TDR) for creditors that have adopted Accounting Standards Codification (ASC) Topic 326 (commonly referred to as “CECL”).