On August 15, the OCC released its annual update to the Bank Accounting Advisory Series (BAAS). The BAAS is an ongoing series that addresses a range of accounting topics relevant to national banks and federal savings associations to promote consistent application of accounting standards and regulatory reporting among OCC-supervised institutions. The BAAS does not represent OCC rules or regulations — instead, it comprises the Office of the Chief Accountant’s interpretations of GAAP and regulatory guidance. This edition of the BAAS did not include new questions or substantive updates but incorporated minor edits to improve clarity, as well as removed two questions on organization costs that were no longer relevant.
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