TITLE: Office of the Comptroller of the Currency Updates Bank Accounting Advisory Series Edition
BODY:
On August 14, 2026, the Office of the Comptroller of the Currency (OCC) released the 2026 edition of the Bank Accounting Advisory Series (BAAS). The BAAS contains staff responses to frequently asked questions from the banking industry and bank examiners on accounting topics, promoting consistent application of accounting standards and regulatory reporting among banks. The OCC clarified that the BAAS does not represent rules or regulations but rather contains the OCC Office of the Chief Accountant's interpretations of generally accepted accounting principles and regulatory guidance based on the facts and circumstances presented.
The 2026 edition reflects updates to accounting standards issued by the Financial Accounting Standards Board (FASB) covering purchased loans, government grants, and internal-use software. The update addresses accounting topics including the Allowance for Loan and Lease Losses (ALLL), Current Expected Credit Losses (CECL) methodology, investment securities accounting, loans and leases accounting, troubled debt restructurings (TDR), transfers of financial assets, and other real estate owned accounting. The BAAS applies to all national banks, federal savings associations, and federal branches and agencies of foreign banking organizations, including community banks.
The release rescinds OCC Bulletin 2025-20, which conveyed the 2025 edition of the BAAS. Banks and examiners should refer to the updated 2026 edition for current guidance on accounting matters. Further information is available from the OCC Office of the Chief Accountant at (202) 649-6280.